New York Times, AT&T Rise; Janus Falls

Mayank Mehta
22 Oct, 2009
New York City

New York Times led the gainers after it reported better than expected operating profit on the higher retail sale prices and operations cost cuts. Janus led the decliners after it reported weaker than expected earnings. 3M Company gained on earnings. AT&T reported flat quarterly net.

[R]2:00 PM New York – New York Times led the gainers after it reported better than expected operating profit on the higher retail sale prices and operations cost cuts. Janus led the decliners after it reported weaker than expected earnings. 3M Company gained on earnings. AT&T advanced after it reported flat quarterly net. eBay decreased on lower than expected revenues. JetBlue swung to a profit.[/R]

Of the stocks in S&P 500 index, 109 increased, 380 declined and 11 were unchanged.

Allegheny Technologies Incorporated led the decliners in the S&P 500 index with a loss of 8.3% followed by losses in Advanced Micro Devices, Inc of 3.5%, in American International Group, Inc of 1.4%, in Amphenol Corporation of 2.5% and in Apache Corporation of 2.5%.

The New York Times Company led gainers in the S&P 500 index with a rise of 17.1% followed by gains in The PNC Financial Services Group, Inc 8.5%, in MetroPCS Communications, Inc of 6.9 % and in Kimberly-Clark Corporation of 5.7%.

Other Movers

3M Company ((MMM)) rose 1.8% or $1.41 to $77.74 after the diversified technology company reported third quarter sales fell 5.6% to $6.19 billion from $6.56 billion a year ago. Net income in the quarter fell 3.4% to $957 million or $1.35 per diluted share compared to net income of $991 million or $1.41 per share a year ago.

1-800-Flowers.com ((FLWS)) added 2.9% or 13 cents to $4.59 after the florist and gift shop reported first quarter revenues fell 20% to $108.3 million from $135.4 million a year ago. Net loss in the quarter was $7.3 million or 11 cents per diluted share compared to net loss of $5.3 million or 8 cents per share a year ago.

Affymetrix, Inc ((AFFX)) plunged 9.7% or 86 cents to $8.00 after the maker of genetic analysis technology said third quarter revenues rose 4% to $78.2 million from $75.2 million a year ago. Net loss in the quarter was $8.8 million or 13 cents per diluted share compared to net loss of $31.8 million or 46 cents per share a year ago.

Alliance Data Systems Corporation ((ADS)) decreased 6.3% or $4.26 to $63.00 after the credit card processor said third quarter revenues fell 5.5% to $483.2 million from $511.2 million a year ago. Net income in the quarter fell 29.3% to $45.8 million or 83 cents per diluted share compared to net income of $64.8 million or 93 cents per share a year ago.

Alaska Air Group, Inc ((ALK)) declined 3.8% or $1.06 to $26.54 after the airline operator reported third quarter revenues fell 9% to $967.4 million from $1.07 billion a year ago. Net income in the quarter was $87.6 million or $2.46 per diluted share compared to net loss of $86.5 million or $2.40 per share a year ago.

AT&T Inc ((T)) rose 1.7% or 45 cents to $26.39 after the telecommunications provider reported third quarter revenues fell 1.5% to $30.86 billion from $31.34 billion a year ago. Net income in the quarter fell 1.2% to $3.19 billion or 54 cents per diluted share compared to net income of $3.23 billion or 55 cents per share a year ago.

Bristol-Myers Squibb Company ((BMY)) declined 1.6% or 37 cents to $22.32 after the drugmaker reported third quarter sales rose 4.6% to $5.49 billion from $5.25 billion a year ago. Net income in the quarter fell 62.6% to $966 million or 48 cents per diluted share compared to net income of $2.58 billion or $1.28 per share a year ago.

Bunge Limited ((BG)) decreased 4.3% or $2.93 to $63.97 after the oilseed processor and fertilizer producer reported third quarter sales fell 23.6% to $11.3 billion from $14.8 billion a year ago. Net income in the quarter rose 8% to $232 million or $1.62 per diluted share compared to net income of $215 million or $1.70 per share a year ago.

Cohu, Inc ((COHU)) added 5.7% or 69 cents to $12.75 after the manufacturer of test handling and burn-in related equipment said third quarter sales fell 8% to $44.1 million from $48 million a year ago. Net loss in the quarter was $71,000 or break even per diluted share compared to net income of $37,000 or break even per share a year ago.

Conmed Corporation ((CNMD)) advanced 6.1% or $1.38 to $23.94 after the medical technology company reported third quarter sales fell 2.2% to $175.5 million from $179.4 million a year ago. Net income in the quarter fell 86.6% to $1.3 million or 4 cents per diluted share compared to net income of $9.7 million or 33 cents per share a year ago.

eBay Inc ((EBAY)) declined 4.5% or $1.13 to $25.03 after the provider of online marketplaces said third quarter revenues rose 5.7% to $2.24 billion from $2.12 billion a year ago. Net income in the quarter fell 29% to $349.7 million or 27 cents per diluted share compared to net income of $492.2 million or 38 cents per share a year ago.

Equifax Inc ((EFX)) dropped 3.1% or 90 cents to $27.55 after the provider of information solutions said third quarter sales fell 6.7% to $451.9 million from $484.1 million a year ago. Net income in the quarter fell 17.4% to $59.7 million or 47 cents per diluted share compared to net income of $72.3 million or 56 cents per share a year ago.

Fifth Third Bancorp ((FITB)) climbed 2.0% or 21 cents to $10.32 after the finance company reported third quarter net interest income fell 18% to $874 million from $1.07 billion a year ago. Net loss in the quarter was $159 million or 20 cents per diluted share compared to net loss of $81 million or 14 cents per share a year ago.

Goodrich Corporation ((GR)) increased 3.8% or $2.09 to $56.74 after the supplier of aerospace components reported third quarter sales fell 6.8% to $1.65 billion from $1.77 billion a year ago. Net income in the quarter fell 13.5% to $145.4 million or $1.14 per diluted share compared to net income of $168 million or $1.32 per share a year ago.

Huntington Bancshares Incorporated ((HBAN)) slipped 1.9% or 9 cents to $4.22 after the finance company reported third quarter net interest income fell 6.6% to $362.8 million from $388.6 million a year ago. Net loss in the quarter was $195.4 million or 33 cents per diluted share compared to net income of $63 million or 17 cents per share a year ago.

Janus Capital Group Inc ((JNS)) dropped 9.1% to $14.31 after it reported net income from continuing operations were $8.2 million or 5 cents a share compared to $15.8 million or 10 cents a share a year ago. The latest quarter earnings included legal charges of $20.5 million and severance of $12.1 million related to settlement with the former chief executive.

JetBlue Airways Corporation ((JBLU)) fell 5.0% or 29 cents to $5.45 after the passenger airline reported third quarter revenues fell 5.3% to $854 million from $902 million a year ago. Net income in the quarter was $15 million or 5 cents per diluted share compared to net loss of $8 million or 3 cents per share a year ago.

Kimberly-Clark Corporation ((KMB)) rose 6.3% or $3.81 to $63.52 after the maker of Huggies diapers and Kleenex tissues reported third quarter sales fell 2% to $4.9 billion from $5 billion a year ago. Net income in the quarter rose 41% to $582 million or $1.40 per diluted share compared to net income of $413 million or 99 cents per share a year ago.

Legg Mason, Inc ((LM)) fell 3.8% or $1.21 to $30.50 after the asset management company reported second quarter revenues fell 31.7% to $659.9 million from $966.1 million a year ago. Net income in the quarter was $45.8 million or 30 cents per diluted share compared to net loss of $108.7 million or 77 cents per share a year ago.

Logitech International S.A ((LOGI)) edged up 1 cent to $18.14 after the maker of peripherals for personal computers said second quarter sales fell 25% to $498.1 million from $664.7 million a year ago. Net income in the quarter fell 71.4% to $20.7 million or 11 cents per diluted share compared to net income of $72.3 million or 39 cents per share a year ago.

The New York Times Company ((NYT)) surged 20.1% to $10.51 after it reported third quarter loss of $35.6 million or 25 cents a share compared to $106.3 million or 74 cents a share. Adjusted earnings excluding pension obligations and other items were 10 cents compared to 5 cents a share a year ago. The company increased newsstand price of the paper as the advertising sales fall. The company plans to cut 100 newsroom jobs.

Novellus Systems, Inc ((NVLS)) advanced 0.8% or 19 cents to $21.80 after the maker of chip-manufacturing tools said third quarter sales fell 29.3% to $176.9 million from $250.1 million a year ago. Net loss in the quarter was $4 million or 4 cents per diluted share compared to net income of $1.4 million or 1 cent per share a year ago.

QLogic Corporation ((QLGC)) fell 2.6% or 48 cents to $17.60 after the network equipment maker said second quarter revenues fell 23.2% to $131.5 million from $171.2 million a year ago. Net income in the quarter fell 40.4% to $16.2 million or 14 cents per diluted share compared to net income of $27.2 million or 20 cents per share a year ago.

ProLogis ((PLD)) added 2.4% or 29 cents to $12.01 after the real estate investment trust reported third quarter revenues fell 72.3% to $273.9 million from $988.9 million a year ago. Net loss in the quarter was $11.8 million or 3 cents per diluted share compared to net income of $32.2 million or 12 cents per share a year ago.

Raytheon Company ((RY)) increased 3.9% or $1.77 to $46.95 after the defense contractor reported third quarter sales rose 6% to $6.21 billion from $5.86 billion a year ago. Net income in the quarter rose 15% to $490 million or $1.25 per diluted share compared to net income of $427 million or $1.00 per share a year ago.