Caterpillar, Peabody Rise; M&I Falls

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

Boston Scientific Corporation led the decliners in the S&P 500 index with a loss of 13.0%. Apple Inc fourth quarter net income increased 47%. Atheros Communications, Inc third quarter profit nearly quadruples as sales rise. Brown & Brown, Inc third quarter profit rose 1% on lower expenses.

[R]11:45 AM New York – Boston Scientific Corporation led the decliners in the S&P 500 index with a loss of 13.0%. Apple Inc fourth quarter net income increased 47%. Atheros Communications, Inc third quarter profit nearly quadruples as sales rise. Brown & Brown, Inc third quarter profit rose 1% on lower expenses.[/R]

Of the stocks in S&P 500 index, 116 increased, 375 declined and 9 were unchanged.

Boston Scientific Corporation led the decliners in the S&P 500 index with a loss of 13.0% followed by losses in Marshall & Ilsley Corporation of 12.2%, in Lockheed Martin Corporation of 5.9%, in GameStop Corp of 5.8% and in MetroPCS Communications, Inc of 5.5%.

Lexmark International, Inc led gainers in the S&P 500 index with a rise of 16.6% followed by gains in The Bank of New York Mellon Corporation 7.1%, in Parker-Hannifin Corporation of 5.5% and in Apple Inc of 5.3%.

Other Movers

Applied Industrial Technologies, Inc ((AIT)) added 1.9% or 39 cents to $20.75 after the distributor of industrial products reported first quarter sales fell 19.5% to $437.7 million from $543.9 million a year ago. Net income in the quarter fell 50.2% to $11.2 million or 26 cents per diluted share compared to net income of $22.5 million or 52 cents per share a year ago.

Apple Inc ((AAPL)) added 6.6% or $12.54 to $202.40 after the maker of portable digital music players and mobile communication devices said fourth quarter sales rose 25% to $9.87 billion from $7.90 billion a year ago. Net income in the quarter rose 46.5% to $1.67 billion or $1.82 per diluted share compared to net income of $1.14 billion or $1.26 per share a year ago.

Atheros Communications, Inc ((ATHR)) advanced 2.0% or 58 cents to $28.38 after the maker of networking and wireless equipment parts said third quarter revenues rose 13.4% to $156.6 million from $138.1 million a year ago. Net income in the quarter rose 282% to $38.6 million or 60 cents per diluted share compared to net income of $10.1 million or 16 cents per share a year ago.

AmeriServ Financial, Inc ((ASRV)) close unchanged at $1.85 after the bank reported third quarter net interest income rose 9.7% to $7.9 million from $7.2 million a year ago. Net loss in the quarter was $3.1 million or 15 cents per diluted share compared to net income of $1.1 million or 5 cents per share a year ago.

Arbitron Inc ((ARB)) fell 1.2% or 28 cents to $23.09 after the media rating service company reported third quarter revenues fell 4.3% to $98.1 million from $102.5 million a year ago. Net income in the quarter fell 19.4% to $13.7 million or 51 cents per diluted share compared to net income of $17 million or 63 cents per share a year ago.

Badger Meter, Inc ((BMI)) decreased 6.7% or $2.69 to $37.00 after the maker of flow measurement products said third quarter sales fell 11.6% to $60.8 million from $68.8 million a year ago. Net income in the quarter rose 148% to $14.4 million or 96 cents per diluted share compared to net income of $5.8 million or 39 cents per share a year ago.

Bank of Ireland ((IRE)) added 5.1% or 82 cents to $16.74 after the bank was upgraded to “buy” from “neutral” at Nomura Holdings Inc.

The Boeing Company ((BA)) fell 3.8% or $2.06 to $51.39 after the commercial-plane builder was downgraded to “underweight” from “equalweight” at Morgan Stanley.

Brown & Brown, Inc ((BRO)) fell 0.2% or 5 cents to $19.38 after the insurance broker reported third quarter revenues fell 1.3% to $243.8 million from $247 million a year ago. Net income in the quarter rose 1% to $41 million or 29 cents per diluted share compared to net income of $40.6 million or 29 cents per share a year ago.

Brinker International, Inc ((EAT)) climbed 3.0% or 51 cents to $16.00 after the restaurant operator reported first quarter revenues fell 21% to $778.1 million from $984.4 million a year ago. Net income in the quarter fell 33.6% to $15.8 million or 15 cents per diluted share compared to net income of $23.8 million or 23 cents per share a year ago.

Caterpillar Inc ((CAT)) increased 3.1% or $1.95 to $59.84 after the maker of construction and mining equipment reported third quarter sales fell 44% to $7.3 billion from $13 billion a year ago. Net income in the quarter fell 53.5% to $404 million or 64 cents per diluted share compared to net income of $868 million or $1.39 per share a year ago.

E. I. du Pont de Nemours and Company ((DD)) decreased 1.5% or 54 cents to $34.07 after the chemical maker reported third quarter sales fell 19.5% to $6.2 billion from $7.7 billion a year ago. Net income in the quarter rose 11.4% to $409 million or 45 cents per diluted share compared to net income of $367 million or 40 cents per share a year ago.

M&T Bank Corporation ((MTB)) increased 3.8% or $2.53 to $68.80 after the bank reported third quarter interest income rose 12% to $547.7 million from $488.2 million a year ago. Net income in the quarter rose 25% to $113.9 million or 97 cents per diluted share compared to net income of $91.2 million or 82 cents per share a year ago.

Packaging Corporation of America ((PKG)) dropped 7.4% or $1.61 to $20.50 after the cardboard box maker said third quarter sales fell 10.8% to $553.5 million from $620.8 million a year ago. Net income in the quarter rose 91% to $72.7 million or 71 cents per diluted share compared to net income of $38.1 million or 37 cents per share a year ago.

Parker-Hannifin Corporation ((PH)) rose 3.4% or $1.92 to $57.13 after the manufacturer of motion and control technologies and systems reported first quarter sales fell 26.8% to $2.24 billion from $3.06 billion a year ago. Net income in the quarter fell 70.6% to $73.5 million or 45 cents per diluted share compared to net income of $250.2 million or $1.50 per share a year ago.

Peabody Energy Corporation ((BTU)) advanced 4.1% or $1.71 to $45.01 after the coal company reported third quarter revenues fell 11.6% to $1.67 billion from $1.89 billion a year ago. Net income in the quarter fell 71% to $106.8 million or 40 cents per diluted share compared to net income of $369.5 million or $1.35 per share a year ago.

Pentair, Inc ((PNR)) fell 5.3% or $1.76 to $31.91 after the industrial manufacturing company reported third quarter sales fell 22.6% to $662.7 million from $855.8 million a year ago. Net income in the quarter fell 10.2% to $36.9 million or 38 cents per diluted share compared to net income of $41.1 million or 41 cents per share a year ago.

Precision Castparts Corp ((PCP)) decreased 4.4% or $4.72 to $100.01 after the manufacturer of complex metal components and products reported second quarter sales fell 27.8% to $1.3 billion from $1.8 billion a year ago. Net income in the quarter fell 23% to $207.3 million or $1.46 per diluted share compared to net income of $269.3 million or $1.91 per share a year ago.

Quest Diagnostics Incorporated ((DGX)) declined 0.3% or 18 cents to $56.53 after the medical laboratory operator reported third quarter revenues rose 4% to $1.9 billion from $1.83 billion a year ago. Net income in the quarter rose 73.5% to $192.2 million or $1.02 per diluted share compared to net income of $110.8 million or 56 cents per share a year ago.

Regions Financial Corporation ((RF)) climbed 2.2% or 13 cents to $5.83 after the finance company reported third quarter net interest income fell 8.4% to $845 million from $922 million a year ago. Net loss in the quarter was $377 million or 32 cents per diluted share compared to net income of $79 million or 11 cents per share a year ago.

Texas Instruments Incorporated ((TXN)) increased 3.3% or 77 cents to $23.52 after the chip maker said third quarter sales fell 15% to $2.88 billion from $3.39 billion a year ago. Net income in the quarter fell 4.4% to $538 million or 42 cents per diluted share compared to net income of $563 million or 43 cents per share a year ago.

Tenaris S.A ((TS)) gained 1.2% or 51 cents to $40.11 after the maker of seamless steel tubes for pipelines was upgraded to “buy” from “neutral” at Goldman Sachs Group Inc.

UnitedHealth Group Incorporated ((UNH)) rose 5.3% or $1.37 to $26.29 after the insurer said third quarter revenues rose 8% to $21.7 billion.

Zions Bancorporation ((ZION)) slipped 1.1% or 21 cents to $18.33 after the finance company said third quarter net interest income fell 3.2% to $476.0 million from $492.0 million a year ago. Net loss in the quarter was $179.5 million or $1.41 per diluted share compared to net income of $33.4 million or 31 cents per share a year ago.