Kohl's, Macy's Rise; Aetna, Cigna Down

Mayank Mehta
08 Oct, 2009
New York City

Healthcare insurers declined after the non-partisan Congressional Budget Office said that the Senate Finance Committee

[R]12:30 PM New York – Healthcare insurers declined after the non-partisan Congressional Budget Office said that the Senate Finance Committee’s healthcare bill will save $81 billion and cost $829 billion over ten years, lower than the cost of Iraq war. Same store retail sales in September increased drive by discounts.[/R]

Of the stocks in S&P 500 index, 434 increased, 60 declined and 6 were unchanged.

WellPoint, Inc led the decliners in the S&P 500 index with a loss of 4.3% followed by losses in UnitedHealth Group Incorporated of 4.1%, in Aetna Inc of 4.0%, in Marriott International, Inc of 3.7% and in Broadcom Corporation of 3.3%.

Monster Worldwide, Inc led gainers in the S&P 500 index with a rise of 6.4% followed by gains in Abercrombie & Fitch Co 6.2%, in Lennar Corporation of 6.0% and in International Paper Company of 4.5%.

Retailers generally gained after the release of September same store sales. Discount retailers reported better than expected sales in the month. Macy’s, TJX Co, Ross Stores and Limited Brands reported better than expected same store sales in September.

Other Movers

ABB Ltd ((ABB)) rose 3.5% or 70 cents to $20.47 after the supplier of power grids was upgraded to “buy” from “neutral” at UBS AG.

Allied Irish Banks, p.l.c ((AIB)) fell 1.4% or 13 cents to $8.80.

Alcoa Inc ((AA)) added 5.6% or 80 cents to $15.00 after the aluminum producer said third quarter sales fell 33.7% to $4.62 billion from $6.97 billion a year ago. Net income in the quarter fell 71.3% to $77 million or 8 cents per diluted share compared to net income of $268 million or 33 cents per share a year ago.

DryShips Inc ((DRYS)), the company whose ships transport raw commodities added 3.5% or 24 cents to $6.97.

Hot Topic, Inc ((HOTT)) increased 7.4% or 57 cents to $8.27 after the teen clothing and music retailer said comparable store sales declined 4.0% in September.

International Speedway Corporation ((ISCA)) decreased 4.7% or $1.33 to $26.84 after the promoter of motorsports entertainment activities reported third quarter revenues fell 19% to $172.9 million from $213.2 million a year ago. Net income in the quarter fell 88.7% to $4.4 million or 9 cents per diluted share compared to net income of $38.8 million or 79 cents per share a year ago.

Marriott International, Inc ((MAR)) fell 0.8% or 22 cents to $26.73 after the hotel operator reported third quarter revenues fell 16.6% to $2.47 billion from $2.96 billion a year ago. Net loss in the quarter was $466 million or $1.31 per diluted share compared to net income of $94 million or 25 cents per share a year ago.

Microvision, Inc ((MVIS)) the maker of handheld laser projectors climbed 4.0% or 21 cents to $5.44.

Monster Worldwide, Inc ((MWW)) the online employment databank increased 5.3% or 92 cents to $18.09.

PepsiCo, Inc ((PEP)) rose 1.0% or 64 cents to $61.81 after the soft drinks and snack maker reported third quarter sales fell 1.4% to $11.08 billion from $11.24 billion a year ago. Net income in the quarter rose 9% to $1.72 billion or $1.09 per diluted share compared to net income of $1.58 billion or 99 cents per share a year ago.

Ruby Tuesday, Inc ((RT)) advanced 0.1% or 1 cent to $7.92 after the casual dining chain said first quarter revenues fell 7.2% to $300.6 million from $324 million a year ago. Net income in the quarter was $6.1 million or 11 cents per diluted share compared to net income of $285,000 or 1 cent per share a year ago. Comparable same-store sales fell 3.1%.

Savient Pharmaceuticals, Inc ((SVNT)) fell 9.0% or $1.37 to $13.71 after the biotechnology company planned to sell 4 million common stocks.

ScanSource, Inc ((SCSC)) rose 4.5% or $1.33 to $30.87 after the maker of bar-code scanners said that sales for its quarter ended September 30 are expected to be in a range of $480 million to $488 million compared to $540 million for the same period one year ago.

WellPoint, Inc ((WLP)) the health insurance decreased 4.5% or $2.15 to $45.51.