Apple, First Solar Rise; Accenture Falls

Mayank Mehta
02 Oct, 2009
New York City

Accenture Limited fourth quarter sales fell 14% and net income plunged 41%. Apple Inc increase after UBS revised the company rating. First Solar, Inc surged after the company was selected for the S&P 500 index to replace Wyeth.

[R]2:00 PM New York – Accenture Limited fourth quarter sales fell 14% and net income plunged 41%. Apple Inc increase after UBS revised the company rating. First Solar, Inc surged after the company was selected for the S&P 500 index to replace Wyeth.[/R]

Of the stocks in S&P 500 index, 47 increased, 451 declined and 2 were unchanged.

American International Group, Inc led the decliners in the S&P 500 index with a loss of 8.6% followed by losses in The Hartford Financial Services Group, Inc of 7.3%, in MBIA Inc of 5.9%, in Dynegy Inc of 5.1% and in The New York Times Company of 4.6%.

PepsiCo, Inc led gainers in the S&P 500 index with a rise of 2.1% followed by gains in BB&T Corporation 1.6%, in Northrop Grumman Corporation of 1.5% and in Costco Wholesale Corporation of 1.2%.

Other Movers

Apple Inc ((AAPL)) added 2.1% or $3.95 to $184.81 after the maker of the iPhone and iPod was upgraded to “buy” from “neutral” at UBS.

Accenture Limited ((ACN)) fell 0.7% or 27 cents to $36.26 after the consulting and outsourcing firm said fourth quarter sales fell 14% to $5.15 billion from $6 billion a year ago. Net income in the quarter fell 41.4% to $254.7 million or 39 cents per diluted share compared to net income of $434.8 million or 67 cents per share a year ago.

DemandTec, Inc ((DMAN)) decreased 0.1% or 1 cent to $8.82 after the software company said second quarter sales rose 6.5% to $19.8 million from $18.6 million a year ago. Net loss in the quarter was $3.1 million or 11 cents per diluted share compared to net loss of $1.6 million or 6 cents per share a year ago.

First Solar, Inc ((FSLR)) rose 6.6% or $9.50 to $153.26 after the maker of thin-film solar power modules was selected to replace Wyeth in the Standard & Poor 500 index.

Glimcher Realty Trust ((GRT)) decreased 6.4% or 22 cents to $3.20 after the owner of shopping centers said that the agreement for the sale of its Lloyd Center property, regional mall located in Portland, Oregon, to Merlone Geier Partners has been terminated. Merlone Geier Partners had the option to terminate the agreement at its sole discretion before September 30, 2009.

Global Payments Inc ((GPN)) declined 1.4% or 66 cents to $45.50 after the processor of electronic payments said first quarter revenues rose 8.8% to $441.3 million from $405.8 million a year ago. Net income in the quarter rose 0.5% to $57.8 million or 71 cents per diluted share compared to net income of $57.5 million or 71 cents per share a year ago.

Immucor, Inc ((BLUD)) increased 0.5% or 10 cents to $17.70 after the maker of products used in blood transfusions said first quarter sales rose 13.5% to $83.1 million from $73.2 million a year ago. Net income in the quarter rose 6.5% to $21.3 million or 30 cents per diluted share compared to net income of $20 million or 28 cents per share a year ago.

Intel Corporation ((INTC)) added 1.4% or 28 cents to $19.17 after the maker of semiconductors was upgraded to “outperform” from “market perform” at Oppenheimer & Co.

Key Energy Services Inc ((KEG)) decreased 6.3% to $7.72 after it guided adjusted quarterly loss of 9 cents a share in the third quarter.

Life Time Fitness Inc ((LTM)) declined 6% to after Oppenheimer & Company downgraded the fitness center to “market performer” from “outperformer.”

The PNC Financial Services Group, Inc ((PNC)) fell 2.8% or $1.34 to $44.99 after the bank was downgraded to “underperform” from “market perform” at Keefe, Bruyette & Woods Inc.

Radian Group Inc ((RDN)) sub-prime lender increased 0.6% or 1 cent to $9.04.

Resources Connection, Inc ((RECN)) dropped 2.3% or 40 cents to $16.50 after the temporary-staffing company said first quarter revenues fell 43% to $118.3 million from $207.3 million a year ago. Net loss in the quarter was $7.2 million or 16 cents per diluted share compared to net income of $12.5 million or 27 cents per share a year ago.

SMART Modular Technologies (WWH), Inc ((SMOD)) added 7.4% or 33 cents to $4.76 after the manufacturer of memory modules, solid state drives said fourth quarter sales fell 38% to $99.8 million from $160.7 million a year ago. Net loss in the quarter was $0.3 million or break even per diluted share compared to net loss of $3.5 million or 6 cents per share a year ago.

Standard Microsystems Corporation ((SMSC)) increased 3.3% or 76 cents to $23.60 after the chipmaker said second quarter sales fell 22.7% to $75.1 million from $97.2 million a year ago. Net loss in the quarter was $6.5 million or 30 cents per diluted share compared to net income of $8.7 million or 38 cents per share a year ago.