SanDisk, SLM, US Bancorp, Yahoo Up

Mayank Mehta
21 Oct, 2009
New York City

SLM Corp led gainers in the S&P 500 index with a rise of 19.6%. Air Products & Chemicals, Inc third quarter profit falls on lower revenue. U.S. Bancorp increased after quarterly revenues surged 26.5%. KeyCorp dropped after earnings dropped more than expected.

[R]1:00 PM New York – SLM Corp led gainers in the S&P 500 index with a rise of 19.6%. Air Products & Chemicals, Inc third quarter profit falls on lower revenue. U.S. Bancorp increased after quarterly revenues surged 26.5%. KeyCorp dropped after earnings dropped more than expected.[/R]

Of the stocks in S&P 500 index, 304 increased, 188 declined and 8 were unchanged.

Northern Trust Corporation led the decliners in the S&P 500 index with a loss of 7.4% followed by losses in Allegheny Technologies Incorporated of 6.2%, in Intuitive Surgical, Inc of 5.4%, in C.H. Robinson Worldwide, Inc of 4.6% and in Gilead Sciences, Inc of 3.3%.

SLM Corporation led gainers in the S&P 500 index with a rise of 19.6% followed by gains in SanDisk Corporation 8.1%, in U.S. Bancorp of 6.8% and in Stryker Corporation of 5.2%.

Other Movers

Air Products & Chemicals, Inc ((APD)) decreased 1.5% or $1.26 to $81.98 after the producer of industrial gases and performance materials reported fourth quarter sales fell 21.4% to $2.13 billion from $2.71 billion a year ago. Net income in the quarter fell 6.8% to $243.9 million or $1.13 per diluted share compared to net income of $261.6 million or $1.21 per share a year ago.

Altria Group, Inc ((MO)) declined 1.3% or 26 cents to $18.40 after the seller of cigarettes and smokeless tobacco products reported third quarter sales rose 20% to $6.3 billion from $5.24 billion a year ago. Net income in the quarter rose 1.7% to $882 million or 42 cents per diluted share compared to net income of $867 million or 42 cents per share a year ago.

ATMI, Inc ((ATMI)) advanced 5.5% or $1.00 to $190.00 after the supplier of high performance materials reported third quarter revenues fell 16.3% to $72.6 million from $86.7 million a year ago. Net income in the quarter fell 35.6% to $6.5 million or 21 cents per diluted share compared to net income of $10.1 million or 32 cents per share a year ago.

The Boeing Company ((BA)) declined 1.2% or 64 cents to $51.22 after the commercial plane maker reported third quarter revenues rose 9% to $16.69 billion from $15.3 billion a year ago. Net loss in the quarter was $1.6 billion or $2.23 per diluted share compared to net income of $695 million or 96 cents per share a year ago.

Canadian National Railway Company ((CNI)) decreased 1.6% or 85 cents to $51.60 after the railroad transportation company said third quarter revenues fell 18% to $1.85 billion from $2.26 billion a year ago. Net income in the quarter fell 16.5% to $461 million or 97 cents per diluted share compared to net income of $552 million or $1.16 per share a year ago.

Cascade Financial Corporation ((CASB)) surged 41.2% or 61 cents to $2.09 a bank said third quarter net interest income fell 15% to $10.9 million from $12.8 million a year ago. Net income in the quarter was $1.0 million or 9 cents per diluted share compared to net loss of $6.6 million or 55 cents per share a year ago.

Cree, Inc ((CREE)) advanced 3.6% or $1.48 to $42.64 after the lighting manufacturer said first quarter revenues rose 20.4% to $169.1 million from $140.4 million a year ago. Net income in the quarter rose 256% to $21 million or 23 cents per diluted share compared to net income of $5.9 million or 7 cents per share a year ago.

Drugstore.com, Inc ((DSCM)) increased 9.4% or 25 cents to $2.91 an online retailer said third quarter sales rose 10.3% to $96.8 million from $87.8 million a year ago. Net loss in the quarter was $1.6 million or 2 cents per diluted share compared to net loss of $3.6 million or 4 cents per share a year ago.

Eli Lilly and Company ((LLY)) climbed 1.3% or 46 cents to $35.70 after the drugmaker reported third quarter revenues rose 6.7% to $5.56 billion from $5.21 billion a year ago. Net income in the quarter was $941.8 million or 86 cents per diluted share compared to net loss of $465.6 million or 43 cents per share a year ago.

Gentex Corporation ((GNTX)) surged 16.6% or $2.44 to $16.96 after the supplier of vehicle mirrors said third quarter sales increased 2% to $155.7 million from $153.1 million a year ago.

IMS Health Incorporated ((RX)) rose 1.7% or 30 cents to $17.71 after the provider of prescription data to drugmakers and analysts said that it is exploring a variety of strategic alternatives. The Company further stated that as part of the process the Board of Directors has formed a committee which has retained Foros Securities LLC as its financial advisor.

KeyCorp ((KEY)) dropped 4.2% or 28 cents to $6.26 after the banking company reported third quarter revenues fell 8.7% to $981 million from $1.07 billion a year ago. Net loss in the quarter was $438 million or 52 cents per diluted share compared to net loss of $48 million or 10 cents per share a year ago.

Knight Capital Group, Inc ((NITE)) plunged 13.7% or $2.98 to $18.81 after the financial services firm reported hybrid market model features complementary electronic and voice trade execution services in global equities and fixed income as well as foreign exchange futures and options.

Lindsay Corporation ((LNN)) dropped 5.2% or $1.75 after the provider of irrigation systems and infrastructure products reported fourth quarter revenues fell 50% to $73.4 million from $147.2 million a year ago. Net income in the quarter fell 81.4% to $2.1 million or 17 cents per diluted share compared to net income of $11.3 million or 90 cents per share a year ago.

Nabors Industries Limited ((NBR)) fell 2.1% or 50 cents to $22.41 after the petroleum driller said third quarter revenues fell 44.2% to $803.6 million from $1.44 billion a year ago. Net income in the quarter fell 84.8% to $29.5 million or 10 cents per diluted share compared to net income of $194 million or 67 cents per share a year ago.

NuVasive, Inc ((NUVA)) declined 3.8% or $1.70 to $42.11 after the medical device maker said third quarter revenues rose 42% to $94.9 million from $66.9 million a year ago. Net income in the quarter was $5.1 million or 13 cents per diluted share compared to net loss of $23.1 million or 64 cents per share a year ago.

Piper Jaffray Companies ((PJC)) added 2.4% or $1.35 to $56.23 an investment bank and securities firm reported third quarter revenues rose 62.9% to $119.7 million from $73.5 million a year ago. Net income in the quarter was $9.3 million or 47 cents per diluted share compared to net loss of $28.2 million or $1.79 per share a year ago.

SanDisk Corporation ((SNDK)) surged 10.2% or $2.19 to $23.67 after the maker of flash memory cards said third quarter revenues rose 14% to $935.2 million from $821.5 million a year ago. Net income in the quarter was $231.3 million or 99 cents per diluted share compared to net loss of $165.9 million or 74 cents per share a year ago.

Sonic Corp ((SONC)) slipped 0.5% or 6 cents to $11.17 after chain of drive-in restaurants said fourth quarter revenues fell 23.4% to $173.8 million from $226.9 million a year ago. Net income in the quarter fell 16.3% to $16.9 million or 28 cents per diluted share compared to net income of $20.2 million or 33 cents per share a year ago.

St. Jude Medical, Inc ((STJ)) increased 1.0% or 34 cents to $33.50 after the medical-device maker reported third quarter sales rose 7.4% to $1.16 billion from $1.08 billion a year ago. Net income in the quarter fell 9.6% to $166.9 million or 48 cents per diluted share compared to net income of $184.7 million or 53 cents per share a year ago.

SLM Corporation ((SLM)) surged 17.8% or $1.59 to $10.49 after the student loan company said third quarter net income $164 million or 26 cents per diluted share compared to $170 million or 31 cents per share a year ago.

The Stanley Works ((SWK)) climbed 2.2% or $1.03 to $47.37 after the tool maker reported third quarter sales fell 16.5% to $935.5 million from $1.12 billion a year ago. Net income in the quarter fell 63% to $60.4 million or 75 cents per diluted share compared to net income of $163.0 million or $2.04 per share a year ago.

Stryker Corporation ((SYK)) increased 8.1% or $3.72 to $49.00 after the maker of artificial body parts and hospital equipment was upgraded to “neutral” from “underperform” at Bank of America Corp.

TESSCO Technologies Incorporated ((TESS)) rose 6.9% or $1.17 to $18.05 after the provider of integrated product and supply chain solutions said second quarter revenues fell 7.4% to $133 million from $143.7 million a year ago. Net income in the quarter rose 18.2% to $2.6 million or 51 cents per diluted share compared to net income of $2.2 million or 44 cents per share a year ago.

Tupperware Brands Corporation ((TUP)) increased 4.5% or $1.99 to $46.00 after the direct seller of consumer products said third quarter sales rose 0.2% to $514.0 million from $513.1 million a year ago. Net income in the quarter rose 17.5% to $32.3 million or 50 cents per diluted share compared to net income of $27.5 million or 43 cents per share a year ago.

U.S. Bancorp ((USB)) increased 6.8% or $1.62 to $25.42 after the bank reported third quarter revenues rose 26.5% to $4.3 billion from $3.4 billion a year ago. Net income in the quarter rose 4.7% to $583 million or 30 cents per diluted share compared to net income of $557 million or 32 cents per share a year ago.

Vascular Solutions, Inc ((VASC)) dropped 2.7% or 25 cents to $8.90 after the medical device company said third quarter revenues rose 11% to $17.2 million from $15.5 million a year ago. Net income in the quarter fell 17.6% to $1.4 million or 9 cents per diluted share compared to net income of 1.7 million or 11 cents per share a year ago.

Yahoo! Inc ((YHOO)) rose 5.0% or 87 cents to $18.04 an Internet media company said third quarter sales fell 11.7% to $1.58 billion from $1.79 billion a year ago. Net income in the quarter rose 242.7% to $186.1 million or 13 cents per diluted share compared to net income of $54.3 million or 4 cents per share a year ago.