CSX, Harley Davidson, Conseco Surge

123jump.com Staff
14 Oct, 2009
New York City

Auto dealers gained after Group 1 Automotive estimated higher than expected third quarter earnings. CSX, Intel, JP Morgan advanced after the earnings release. Harley Davidson gains on an analyst upgrade. China and India based ADRs gained on a region rally in Asia.

[R]1:30 PM New York – Auto dealers gained after Group 1 Automotive estimated higher than expected third quarter earnings. CSX, Intel, JP Morgan advanced after the earnings release. Harley Davidson gains on an analyst upgrade. China and India based ADRs gained on a region rally in Asia.[/R]

Of the stocks in S&P 500 index, 454 increased, 44 declined and 2 were unchanged.

Valero Energy Corporation led the decliners in the S&P 500 index with a loss of 1.9% followed by losses in Chesapeake Energy Corporation of 1.6%, in W.W. Grainger, Inc of 1.5%, in CBS Corporation of 1.4% and in Intuitive Surgical, Inc of 1.3%.

Harley-Davidson,Inc led gainers in the S&P 500 index with a rise of 6.8% followed by gains in Ciena Corporation 4.8%, in Genworth Financial, Inc of 4.8% and in AutoNation, Inc of 4.5%.

Auto dealer operators gained after Group 1 Automotive Inc reported estimated third quarter earnings to be at least 68 cents a share. Group 1 ((GPI)) increased 5.9% to $31.55 and AutoNation, Inc increased 6.4% to $19.46 and CarMax, Inc ((KMX)) increased 3.3% to $21.40.

China and India based stocks gained after a rally in Asia lifted stocks in the region.

Tata Motors ((TTM)) increased 5.5% to $12.67, Sterlite Industries ((SLT)) increased 6.2% to $18.28 and HDFC Bank increased 1.1% to $121.18 after it released earnings.

PetroChina gained 6.4% to $130.48, Shanda Interactive increased 1.9% to $48.52 and China Mobile gained 2.8% to $51.34.

Other Movers

Abbott Laboratories ((ABT)) rose 1.6% or 82 cents to $50.47 after the health care company reported third quarter sales rose 3.5% to $7.76 billion from $7.50 billion a year ago. Net income in the quarter rose 36.4% to $1.5 billion or 95 cents per diluted share compared to net income of $1.1 billion or 69 cents per share a year ago.

Adtran Inc ((ADTN)) fell 0.4% or 10 cents to $25.15 after the maker of networking equipment reported third quarter sales fell 6.6% to $128.1 million from $137.2 million a year ago. Net income in the quarter fell 3.6% to $21.6 million or 34 cents per diluted share compared to net income of $22.4 million or 35 cents per share a year ago.

AGCO Corporation ((AGCO)) fell 1.1% or 31 cents to $26.66 after the maker of farm equipment was downgraded to “underweight” from “neutral” at JPMorgan.

Altera Corporation ((ALTR)) added 0.4% or 41 cents to $21.85 after the chip maker said third quarter sales fell 19.7% to $286.6 million from $356.8 million a year ago. Net income in the quarter fell 40% to $56.7 million or 19 cents per diluted share compared to net income of $94.7 million or 31 cents per share a year ago.

ASML Holding N.V ((ASML)) slipped 2.2% or 68 cents to $30.97 after the chip-equipment producer reported third quarter sales fell 20% to €555.3 million from €696.5 million a year ago. Net income in the quarter fell 73% to €19.7 million or €0.05 per diluted share compared to net income of €73.3 million or €0.17 per share a year ago.

Acergy S.A ((ACGY)) fell 0.6% or 8 cents to $13.51 after the engineering and construction contractor reported third quarter revenues fell 12.7% to $558.3 million from $639.2 million a year ago. Net income in the quarter fell 41% to $66.7 million or 30 cents per diluted share compared to net income of $112.9 million or 58 cents per share a year ago.

Audiovox Corporation ((VOXX)) advanced 6.1% or 46 cents to $7.98 after the distributor of consumer electronics said second quarter sales fell 15% to $124.9 million from $147.2 million a year ago. Net income in the quarter was $2.8 million or 12 cents per diluted share compared to net loss of $2.3 million or 10 cents per share a year ago.

Bank of the Ozarks, Inc ((OZRK)) decreased 0.3% or 8 cents to $26.96 after the bank said third quarter interest income rose 18.7% to $29.2 million from $24.6 million a year ago. Net income in the quarter fell 6.7% to $8.4 million or 50 cents per diluted share compared to net income of $9 million or 53 cents per share a year ago.

Central European Media Enterprises Ltd ((CETV)) plunged 10.7% to $28.72 after it reported second quarter earnings of $24 million compared to $63.4 million a year ago and guided full year earnings “significantly below market expectations.” The company recently sold 31% stake to Time Warner.

Conseco, Inc ((CNO)) surged 24.6% or $1.23 to $6.22 after the hedge fund Paulson & Company agreed to increase its stake in the company through additional purchase of $77 million of stocks and derivatives.

CSX Corporation ((CSX)) climbed 2.6% or $1.17 to $45.45 after the transportation company said third quarter sales fell 23% to $2.3 billion from $3 billion a year ago. Net income in the quarter fell 23% to $293 million or 74 cents per diluted share compared to net income of $382 million or 94 cents per share a year ago.

EXFO Electro-Optical Engineering Inc ((EXFO)) increased 3.9% or 14 cents to $3.69 after the provider of test and monitoring solutions said fourth quarter sales fell 28.3% to $36.5 million from $50.9 million a year ago. Net loss in the quarter was $1.2 million or 2 cents per diluted share compared to net income of $3.3 million or 5 cents per share a year ago.

Intel Corporation ((INTC)) fell 0.4% or 9 cents to $20.40 after the chip maker said third quarter revenues fell 8% to $9.4 billion from $10.2 billion a year ago. Net income in the quarter fell 5% to $1.9 billion or 33 cents per diluted share compared to net income of $2 billion or 35 cents per share a year ago.

JPMorgan Chase & Co ((JPM)) added 3.1% or $1.43 to $47.09 after the bank reported third quarter revenues rose 81% to $26.6 billion from $14.7 billion a year ago. Net income in the quarter rose 583% to $3.6 billion or 82 cents per diluted share compared to net income of $527 million or 9 cents per share a year ago.

Linear Technology Corporation ((LLTC)) added 0.4% or 14 cents to $28.63 after the chip maker said first quarter revenues fell 24% to $236.1 million from $310.4 million a year ago. Net income in the quarter fell 40.7% to $60.7 million or 27 cents per diluted share compared to net income of $102.3 million or 45 cents per share a year ago.

Lufkin Industries, Inc ((LUFK)) advanced 3.0% or $1.69 to $57.73 after the supplier of oil field products reported third quarter sales fell 39.7% to $117.7 million from $195.1 million a year ago. Net income in the quarter fell 80% to $5 million or 34 cents per diluted share compared to net income of $24.8 million or $1.65 per share a year ago.

Myriad Pharmaceuticals, Inc ((MYRX)) rose 8.0% or 48 cents to $6.40 after the drug developer said the identification of an investigational new drug candidate targeting a novel molecular target, the protein kinase IKK epsilon.

W.W. Grainger, Inc ((GWW)) fell 2.1% or $2.06 to $92.25 after the supplier of facilities maintenance products reported third quarter sales fell 13.6% to $1.59 billion from $1.84 billion a year ago. Net income in the quarter rose 3.3% to $144.6 million or $1.88 per diluted share compared to net income of $140 million or $1.77 per share a year ago.