Amazon.com, Microsoft Surge; Broadcom Falls

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

Amazon.com surged 19% after it reported sharply higher quarterly results. Microsoft gained 10% on higher than expected earnings as it accelerates cost cutting. Home builders trade lower. Oil complex stocks fell as the oil prices edge lower.

[R]12:40 PM New York – Amazon.com surged 19% after it reported sharply higher quarterly results. Microsoft gained 10% on higher than expected earnings as it accelerates cost cutting. Home builders trade lower. Oil complex stocks fell as the oil prices edge lower.[/R]

Of the stocks in S&P 500 index, 178 increased, 317 declined and 5 were unchanged.

CA, Inc led the decliners in the S&P 500 index with a loss of 9.2% followed by losses in Broadcom Corporation of 7.6%, in Memc Electronic Materials Inc of 7.5%, in Biogen Idec Inc of 6.6% and in Burlington Northern Santa Fe Corporation of 5.8%.

Amazon.com, Inc led gainers in the S&P 500 index with a rise of 18.9% followed by gains in Compuware Corporation 17.0%, in Capital One Financial Corporation of 9.8% and in Microsoft Corporation of 8.9%.

Home builders fell at least 3% on the worries that new home sales will taper off after the expiry of the current tax incentives to first time buyers. Lennar, D R Horton, Toll Brothers and Pulte Homes and the Ryland Group dropped between 3% and 4.5%.

Other Movers

Agrium Inc ((AGU)) fell 4.3% or $2.45 to $54.46 after the fertilizer producer announced today that it expects third quarter 2009 earnings to be 90% to 95% below the year ago quarter.

Align Technology, Inc ((ALGN)) surged 11.3% or $1.74 to $17.12 after the dental products company said third quarter revenues rose 5.5% to $79.3 million from $75.2 million a year ago. Net loss in the quarter was $49.9 million or 72 cents per diluted share compared to net income of $5.2 million or 8 cents per share a year ago.

Amazon.com, Inc ((AMZN)) jumped 14.4% or $13.53 to $106.98 after the online retailer said third quarter sales rose 28% to $5.45 billion from $4.26 billion a year ago. Net income in the quarter rose 68.6% to $199 million or 45 cents per diluted share compared to net income of $118 million or 27 cents per share a year ago.

American Express Company ((AXP)) added 3.8% or $1.34 to $36.44 after the credit card company said third quarter revenues fell 16% to $6.02 billion from $7.16 billion a year ago. Net income in the quarter fell 21.5% to $640 million or 53 cents per diluted share compared to net income of $815 million or 70 cents per share a year ago.

AmSurg Corp ((AMSG)) advanced 2.1% or 49 cents to $23.19 an operator of outpatient surgery centers said third quarter revenues rose 11.4% to $167.9 million from $150.7 million a year ago. Net income in the quarter rose 11.3% to $13.8 million or 45 cents per diluted share compared to net income of $12.4 million or 38 cents per share a year ago.

Amcol International Corporation ((ACO)) rose 1.5% or 39 cents to $25.41 after the specialty minerals company reported third quarter sales fell 24.5% to $190.9 million from $253 million a year ago. Net income in the quarter rose 600% to $13.3 million or 43 cents per diluted share compared to net income of $1.9 million or 6 cents per share a year ago.

Avx Corporation ((AVX)) dropped 1.7% or 20 cents to $11.40 after the supplier of a line of passive electronic components reported third quarter sales fell 22.4% to $310.5 million from $400.3 million a year ago. Net income in the quarter rose 13.7% to $31.6 million or 19 cents per diluted share compared to net income of $27.8 million or 16 cents per share a year ago.

Capital One Financial Corporation ((COF)) climbed 8.5% or $3.27 to $41.60 after the finance company said third quarter net interest income rose 13.3% to $2.05 billion from $1.81 billion a year ago. Net income in the quarter rose 14% to $425.6 million or 94 cents per diluted share compared to net income of $374.1 million or $1 per share a year ago.

Chipotle Mexican Grill, Inc ((CMG)) fell 2.8% or $2.52 to $87.00 after the restaurant said third quarter revenues rose 14% to $387.6 million from $340.5 million a year ago. Net income in the quarter rose 77% to $34.5 million or $1.08 per diluted share compared to net income of $19.5 million or 59 cents per share a year ago.

The Chubb Corporation ((CB)) increased 5.1% or $2.64 to $53.79 after the insurer said third quarter net premiums written fell 7% to $2.7 billion from $2.9 billion a year ago. Net income in the quarter rose 125.8% to $596 million or $1.69 per diluted share compared to net income of $264 million or 73 cents per share a year ago.

The Cheesecake Factory Incorporated ((CAKE)) rose 2.4% or 44 cents to $18.58 after the restaurant operator said third quarter revenues fell 1% to $400.6 million from $405.1 million a year ago. Net income in the quarter rose 38% to $16.3 million or 27 cents per diluted share compared to net income of $11.8 million or 19 cents per share a year ago.

Compuware Corporation ((CPWR)) added 5.3% or 38 cents to $7.48 after the business software provider said second quarter revenues fell 19.2% to $217.9 million from $269.8 million a year ago. Net income in the quarter rose 29.6% to $28 million or 12 cents per diluted share compared to net income of $21.6 million or 8 cents per share a year ago.

Columbus McKinnon Corporation ((CMCO)) rose 3.2% or 49 cents to $15.66 after the maker of crane hooks and actuators reported third quarter sales fell 25.5% to $115.2 million from $154.7 million a year ago. Net loss in the quarter was $2.7 million or 14 cents per diluted share compared to net income of $10.6 million or 55 cents per share a year ago.

Developers Diversified Realty Corporation ((DDR)) advanced 4.2% or 41 cents to $10.01 after the real estate investment trust said third quarter revenues fell 9.2% to $202.3 million from $222.9 million a year ago. Net loss in the quarter was $148.4 million or 90 cents per diluted share compared to net income of $24.7 million or 20 cents per share a year ago.

Donegal Group Inc ((DGICA)) fell 1.4% or 22 cents to $15.17 an insurance company reported third quarter revenues rose 2.4% to $94.9 million from $92.7 million a year ago. Net income in the quarter rose 6.3% to $6.7 million or 27 cents per diluted share compared to net income of $6.3 million or 25 cents per share a year ago.

Dover Corporation ((DOV)) rose 1.6% or 66 cents to $41.20 after the industrial company reported third quarter sales fell 24% to $1.5 billion from $1.97 billion a year ago. Net income in the quarter fell 43% to $106.9 million or 57 cents per diluted share compared to net income of $187.7 million or $1 per share a year ago.

Fortune Brands, Inc ((FO)) advanced 2.3% or $1.02 to $44.15 after the maker of spirits and golf products reported third quarter sales fell 10.4% to $1.72 billion from $1.92 billion a year ago. Net income in the quarter fell 63.1% to $124.1 million or 82 cents per diluted share compared to net income of $335.9 million or $2.21 per share a year ago.

Gardner Denver, Inc ((GDI)) climbed 3.0% or $1.17 to $39.00 after the maker of air compressors and pumps said third quarter revenues fell 10.7% to $428.8 million from $480.3 million a year ago. Net income in the quarter fell 44% to $19.4 million or 37 cents per diluted share compared to net income of $34.6 million or 65 cents per share a year ago.

GlaxoSmithKline plc ((GSK)) declined 2.6% or $1.09 to $40.45 after the U.K.’s drugmaker was downgraded to “hold” from “buy” at Jefferies Group Inc.

Honeywell International Inc ((HON)) increased 1.7% or 67 cents to $39.20 after the maker of cockpit electronics reported third quarter sales fell 17.2% to $7.7 billion from $9.3 billion a year ago. Net income in the quarter fell 15.4% to $608 million or 80 cents per diluted share compared to net income of $719 million or 97 cents per share a year ago.

Healthways, Inc ((HWAY)) increased 2.7% or 44 cents to $16.59 after wellness-program provider said third quarter revenues fell 3% to $181.6 million from $187.4 million a year ago. Net income in the quarter fell 43.6% to $8.8 million or 26 cents per diluted share compared to net income of $15.6 million or 45 cents per share a year ago.

Interactive Brokers Group, Inc ((IBKR)) decreased 7.9% or $1.55 to $18.01 an automated electronic market maker and broker said third quarter revenues fell 45.4% to $271.5 million from $497.1 million a year ago. Net income in the quarter fell 69% to $8.5 million or 20 cents per diluted share compared to net income of $27.2 million or 65 cents per share a year ago.

Ingersoll-Rand plc ((IR)) increased 4.6% or $1.65 to $37.00 after the maker of heating and cooling systems reported third quarter revenues fell 19.3% to $3.48 billion from $4.31 billion a year ago. Net income in the quarter fell 5% to $216.6 million or 65 cents per diluted share compared to net income of $227.7 million or 70 cents per share a year ago.

L.B. Foster Company ((FSTR)) fell 2.0% or 64 cents to $30.00 after the rail products provider reported third quarter sales fell 36.5% to $92.4 million from $145.6 million a year ago. Net income in the quarter fell 24.7% to $6.1 million or 60 cents per diluted share compared to net income of $8.1 million or 76 cents per share a year ago.

Microsoft Corporation ((MSFT)) surged 10.0% or $2.59 to $29.18 after the software company reported first quarter revenues fell 14.2% to $12.92 billion from $15.06 billion a year ago. Net income in the quarter fell 18.3% to $3.57 billion or 40 cents per diluted share compared to net income of $4.37 billion or 48 cents per share a year ago.

Netflix, Inc ((NFLX)) slipped 3.2% or $1.63 to $49.63 after the online DVD rental company said third quarter sales rose 24% to $423.1 million from $341.3 million a year ago. Net income in the quarter rose 47.5% to $30.1 million or 52 cents per diluted share compared to net income of $20.4 million or 33 cents per share a year ago.

Premiere Global Services, Inc ((PGI)) fell 2.1% or 17 cents to $7.85 after the provider of communication technologies-based solutions said third quarter revenues fell 5.4% to $148 million from $156.5 million a year ago. Net loss in the quarter was $12.6 million or 21 cents per diluted share compared to net income of $10.8 million or 18 cents per share a year ago.

Saia Inc ((SAIA)) fell 0.7% or 11 cents to $14.81 after the trucking company reported third quarter revenues fell 19% to $222.2 million from $274.2 million a year ago. Net income in the quarter rose 18% to $3.3 million or 24 cents per diluted share compared to net income of $2.8 million or 20 cents per share a year ago.

Schlumberger Limited ((SLB)) decreased 2.9% or $2.00 to $66.77 after the oil field services company reported third quarter sales fell 25.2% to $5.43 billion from $7.26 billion a year ago. Net income in the quarter fell 48.6% to $787 million or 65 cents per diluted share compared to net income of $1.53 billion or $1.25 per share a year ago.

SunPower Corporation ((SPWRA)) plunged 12.8% or $4.21 to $29.09 after the supplier of solar power modules said third quarter revenues were $466 million compared to $377 million.

Whirlpool Corporation ((WHR)) increased 6.0% or $4.45 to $77.99 after the appliance maker reported third quarter sales fell 8.2% to $4.5 billion from $4.9 billion a year ago. Net income in the quarter fell 46.6% to $87 million or $1.15 per diluted share compared to net income of $163 million or $2.15 per share a year ago.

Wilmington Trust Corporation ((WL)) fell 3.8% or 58 cents to $14.70 after the finance company reported third quarter net interest income fell 12.2% to $80 million from $91.1 million a year ago. Net loss in the quarter was $10.4 million or 15 cents per diluted share compared to net income of $22.9 million or 34 cents per share a year ago.