Baidu, Wynn Fall; Crane, lululemon Rise

Mayank Mehta
27 Oct, 2009
New York City

TD Ameritrade third quarter net declined 9% on 1.3% rise in revenues. China based ADRs declined after a drop in the benchmark indexes in Shanghai and Hong Kong. Wynn Resorts, Limited led the decliners in the S&P 500 index with a loss of 8.5%. Potlatch Corp announces senior notes offering.

[R]11:45 AM New York – TD Ameritrade third quarter net declined 9% on 1.3% rise in revenues. China based ADRs declined after a drop in the benchmark indexes in Shanghai and Hong Kong. Wynn Resorts, Limited led the decliners in the S&P 500 index with a loss of 8.5%. Potlatch Corp announces senior notes offering.[/R]

Of the stocks in S&P 500 index, 263 increased, 227 declined and 10 were unchanged.

Wynn Resorts, Limited led the decliners in the S&P 500 index with a loss of 8.5% followed by losses in V.F. Corporation of 7.4%, in Franklin Resources, Inc of 6.1%, in AK Steel Holding Corporation of 5.3% and in Tenet Healthcare Corporation of 4.6%.

Cabot Oil & Gas Corporation led gainers in the S&P 500 index with a rise of 9.9% followed by gains in Bemis Company, Inc 6.5%, in Textron Inc of 6.7% and in Avery Dennison Corporation of 5.2%.

Stocks of China based companies traded sharply lower in New York trading after benchmark indexes in Shanghai and Hong Kong fell.

Scientific Games Corp ((SGMS)) dropped 24%, Baidu, Inc ((BIDU)) declined 12.6% and Home Inns & Hotel Management Inc ((HMIN)) fell 12.3%.

Other Movers

Albemarle Corporation ((ALB)) decreased 2.0% or 69 cents to $33.23 after the specialty chemicals maker said third quarter sales fell 22% to $515.3 million from $660.5 million a year ago. Net income in the quarter fell 7.3% to $52.1 million or 57 cents per diluted share compared to net income of $56.2 million or 61 cents per share a year ago.

A. M. Castle & Co ((CAS)) fell 0.9% or 11 cents to $11.35 after the distributor of specialty metal and plastic products reported third quarter sales fell 52.7% to $184 million from $388.9 million a year ago. Net loss in the quarter was $6.3 million or 28 cents per diluted share compared to net income of $11.5 million or 50 cents per share a year ago.

AK Steel Holding Corporation ((AKS)) declined 5.1% or 96 cents to $17.83 after the steel producer reported third quarter sales fell 52% to $1.04 billion from $2.16 billion a year ago. Net income in the quarter fell 96.7% to $6.2 million or 6 cents per diluted share compared to net income of $188.3 million or $1.67 per share a year ago.

Arch Capital Group Ltd ((ACGL)) added 4.3% or $3.02 to $71.82 after the insurer said third quarter revenues rose 30.7% to $976.2 million from $746.8 million a year ago. Net income in the quarter rose 939% to $274.4 million or $4.39 per diluted share compared to net income of $26.4 million or 42 cents per share a year ago.

Arris Group, Inc ((ARRS)) advanced 0.7% or 8 cents to $11.45 after the communications technology company said third quarter sales fell 7.3% to $275.8 million from $297.6 million a year ago. Net income in the quarter fell 3% to $21.7 million or 17 cents per diluted share compared to net income of $22.4 million or 18 cents per share a year ago.

BE Aerospace, Inc ((BEAV)) added 1.7% or 35 cents to $20.15 after the supplier of aircraft interior products reported third quarter sales fell 22% to $459.8 million from $587.8 million a year ago. Net income in the quarter fell 30.3% to $36.1 million or 36 cents per diluted share compared to net income of $51.8 million or 54 cents per share a year ago.

Baidu, Inc ((BIDU)) plunged 13.6% or $58.91 to $374.06 after the operator of China’s most-used Internet search engine said third quarter total revenues increased 39.1% to RMB 1,278.7 million from RMB 919.1 million a year ago.

Canadian Pacific Railway Limited ((CP)) fell 0.5% or 26 cents to $45.40 after the railroad operator reported third quarter revenues fell 13.5% to $1.09 billion from $1.26 billion a year ago. Net income in the quarter rose 14.5% to $195.4 million or $1.16 per diluted share compared to net income of $170.7 million or $1.10 per share a year ago.

Carpenter Technology Corporation ((CRS)) decreased 5.0% or $1.07 to $20.30 after the distributor of specialty metals reported first quarter sales fell 43.5% to $233.7 million from $413.7 million a year ago. Net loss in the quarter was $9.3 million or 21 cents per diluted share compared to net income of $25.8 million or 58 cents per share a year ago.

Crane Co ((CR)) increased 5.7% or $1.52 to $28.00 after the manufacturer of engineered industrial products said third quarter sales fell 14.3% to $550.7 million from $642.7 million a year ago. Net income in the quarter fell 3% to $35.1 million or 60 cents per diluted share compared to net income of $36.1 million or 60 cents per share a year ago.

Dollar Thrifty Automotive Group, Inc ((DTG)) plunged 11.3% or $2.80 to $22.25 after the rental-car company said that it intends to offer 5.75 million shares of its common stock. Goldman, Sachs & Co. and J.P. Morgan Securities Inc. will serve as joint book-running managers.

ev3 Inc ((EVVV)) climbed 3.2% or 38 cents to $12.00 after the endovascular device maker reported third quarter sales rose 5.4% to $112.8 million from $107.0 million a year ago. Net income in the quarter was $6.7 million or 6 cents per diluted share compared to net loss of $7.3 million or 7 cents per share a year ago.

Hexcel Corporation ((HXL)) fell 1.5% or 18 cents to $11.74 after the maker of structural materials for the aerospace industry said third quarter sales fell 22.4% to $257.1 million from $331.4 million a year ago. Net income in the quarter fell 68.5% to $10.4 million or 11 cents per diluted share compared to net income of $33 million or 34 cents per share a year ago.

Johnson Controls, Inc ((JCI)) slipped 1.0% or 27 cents to $26.01 after the maker of automotive and building systems reported fourth quarter sales fell 15.5% to $7.87 billion from $9.31 billion a year ago. Net income in the quarter was $300 million or 47 cents per diluted share compared to net income of $16 million or 3 cents per share a year ago.

lululemon athletica inc ((LULU)) rose 9.2% or $2.37 to $28.04 after the clothing retailer estimated fiscal third quarter diluted earnings per share to be in the range of 17 cents to 19 cents as compared to its previous guidance range between 11 cents and 13 cents on higher than expected earnings.

Plum Creek Timber Company, Inc ((PCL)) rose 0.5% or 19 cents to $32.95 after the timberland owner said third quarter sales fell 29% to $294 million from $414 million a year ago. Net income in the quarter fell 72.5% to $19 million or 12 cents per diluted share compared to net income of $69 million or 40 cents per share a year ago.

Potlatch Corporation ((PCH)) added 0.6% or 19 cents to $28.50 after the real estate investment trust said third quarter sales rose 25% to $163.7 million from $130.8 million a year ago. Net income in the quarter rose 81% to $45.8 million or $1.15 per diluted share compared to net income of $25.3 million or 63 cents per share a year ago.

Pool Corporation ((POOL)) fell 6.5% or $1.50 to $21.48 after the distributor of swimming pool supplies and equipments reported third quarter sales fell 13% to $430.1 million from $493.5 million a year ago. Net loss in the quarter was $9.3 million or 19 cents per diluted share compared to net income of $22.1 million or 45 cents per share a year ago.

Pre-Paid Legal Services, Inc ((PPD)) advanced 0.02% or 1 cent to $41.40 after provider of legal expense plans said third quarter revenues fell 2.2% to $113.9 million from $116.5 million a year ago. Net income in the quarter fell 25% to $10.8 million or 99 cents per diluted share compared to net income of $14.4 million or $1.23 per share a year ago.

Reinsurance Group of America, Incorporated ((RGA)) climbed 4.1% or $1.96 to $48.95 after the insurance company said third quarter revenues rose 36% to $1.78 billion from $1.31 billion a year ago. Net income in the quarter rose 369% to $118.2 million or $1.61 per diluted share compared to net income of $25.2 million or 40 cents per share a year ago.

Rent-A-Center, Inc ((RCII)) plunged 9.4% or $1.92 to $18.50 after the rent-to-own operator said third quarter revenues fell 5.3% to $671.3 million from $708.8 million a year ago. Net income in the quarter rose 25.2% to $36.8 million or 55 cents per diluted share compared to net income of $29.4 million or 44 cents per share a year ago.

TD Ameritrade Holding Corp ((AMTD)) declined 0.5% or 10 cents to $19.38 after the online brokerage firm reported fourth quarter revenues rose 1.3% to $657.9 million from $649.2 million a year ago. Net income in the quarter fell 9% to $156.7 million or 26 cents per diluted share compared to net income of $172 million or 29 cents per share a year ago.

Textron Inc ((TXT)) advanced 4.8% or 89 cents to $19.25 after the multi-industry company reported third quarter revenues fell 26.5% to $2.55 billion from $3.47 billion a year ago. Net income in the quarter fell 98% to $4 million or 1 cent per diluted share compared to net income of $206 million or 83 cents per share a year ago.

Tuesday Morning Corporation ((TUES)) rose 2.4% or 9 cents to $3.75 after the discount housewares chain reported first quarter sales fell 4.3% to $165.9 million from $173.4 million a year ago. Net loss in the quarter was $4.7 million or 11 cents per diluted share compared to net loss of $4.3 million or 10 cents per share a year ago.

United States Steel Corporation ((X)) declined 1.0% or 42 cents to $40.16 after the steel maker reported third quarter sales fell 61.4% to $2.82 billion from $7.31 billion a year ago. Net loss in the quarter was $303 million or $2.11 per diluted share compared to net income of $919 million or $7.79 per share a year ago.

Veeco Instruments Inc ((VECO)) rose 4.9% or $1.23 to $26.30 after the semiconductor equipment maker said third quarter sales fell 14.5% to $98.9 million from $115.7 million a year ago. Net income in the quarter was $1.3 million or 4 cents per diluted share compared to net loss of $2.4 million or 8 cents per share a year ago.

V.F.Corporation ((VFC)) fell 6.9% or $5.49 to $73.00 after the apparel maker said third quarter sales fell 5% to $2.08 billion from $2.19 billion a year ago. Net income in the quarter fell 7% to $217.9 million or $1.94 per diluted share compared to net income of $233.9 million or $2.10 per share a year ago.

WMS Industries Inc ((WMS)) declined 8.4% or $4.01 to $43.39 after the maker of slot machines said first quarter revenues increased 9% to $165.3 million from $151.4 million.

Zoran Corporation ((ZRAN)) plunged 12.6% or $1.29 to $8.88 after the maker of software and chips for digital audio and video products said third quarter net income of $4.9 million or 9 cents per diluted compared net loss $13.8 million or 27 cents per share a year ago.