First Solar Falls; Akamai, Symantec Rise

Mayank Mehta
29 Oct, 2009
New York City

First Solar, Inc led the decliners in the S&P 500 index with a loss of 17.3%. Affiliated Managers Group third quarter profit increased 72%. Aetna Inc beats analyst expectations. Owens-Illinois, Inc third quarter profit jumps 61% on cost cutting.

[R]11:00 AM New York – First Solar, Inc led the decliners in the S&P 500 index with a loss of 17.3%. Affiliated Managers Group third quarter profit increased 72%. Aetna Inc beats analyst expectations. Owens-Illinois, Inc third quarter profit jumps 61% on cost cutting.[/R]

Of the stocks in S&P 500 index, 396 increased, 97 declined and 7 were unchanged.

First Solar, Inc led the decliners in the S&P 500 index with a loss of 17.3% followed by losses in Monster Worldwide, Inc of 7.3%, in The Goodyear Tire & Rubber Company of 7.2%, in Avon Products, Inc of 6.7% and in Smith International, Inc of 4.4%.

Akamai Technologies, Inc led gainers in the S&P 500 index with a rise of 12.3% followed by gains in Symantec Corporation 10.8%, in O’Reilly Automotive, Inc of 10.0% and in Lincoln National Corporation of 9.8%.

Other Movers

Aetna Inc ((AET)) rose 0.7% or 18 cents to $25.50 after the health insurer reported third quarter revenues rose 14.4% to $8.72 billion from $7.62 billion a year ago. Net income in the quarter rose 17.6% to $326.2 million or 73 cents per diluted share compared to net income of $277.3 million or 58 cents per share a year ago.

Agnico-Eagle Mines Limited ((AEM)) slipped 5.2% or $3.25 to $58.37 after the Toronto-based gold company said third quarter net loss of $17.0 million or 11 cents per diluted share.

Affiliated Managers Group, Inc ((AMG)) added 1.5% or 95 cents to $63.43 an asset management company said third quarter revenues fell 25.2% to $217.5 million from $290.8 million a year ago. Net income in the quarter rose 72.3% to $67.9 million or 40 cents per diluted share compared to net income of $39.4 million or 39 cents per share a year ago.

Aflac Incorporated ((AFL)) decreased 1.6% or 68 cents to $39.90 after the disability insurance provider said third quarter revenues rose 23% to $4.53 billion from $3.69 billion a year ago. Net income in the quarter rose 263% to $363 million or 77 cents per diluted share compared to net income of $100 million or 21 cents per share a year ago.

Airgas, Inc ((ARG)) fell 2.0% or 95 cents to $45.00 after the industrial gas distributor reported second quarter sales fell 17% to $962.3 million from $1.16 billion a year ago. Net income in the quarter fell 25% to $54.5 million or 65 cents per diluted share compared to net income of $72.8 million or 86 cents per share a year ago.

Akamai Technologies, Inc ((AKAM)) added 9.6% or $1.94 to $22.10 after the provider of technology for managing web traffic said third quarter revenues rose 4.7% to $206.5 million from $197.3 million a year ago. Net income in the quarter fell 2% to $32.7 million or 18 cents per diluted share compared to net income of $33.4 million or 18 cents per share a year ago.

Allegheny Energy, Inc ((ALE)) fell 2.3% or 58 cents to $24.44 after the energy company reported third quarter revenues fell 6.6% to $793.7 million from $849.6 million a year ago. Net income in the quarter fell 13.5% to $77 million or 45 cents per diluted share compared to net income of $89 million or 52 cents per share a year ago.

Allergan, Inc ((AGN)) rose 0.9% or 51 cents to $54.06 after the multi-specialty health care company reported third quarter revenues rose 3.6% to $1.14 billion from $1.10 billion a year ago. Net income in the quarter rose 8.2% to $179 million or 58 cents per diluted share compared to net income of $165.4 million or 54 cents per share a year ago.

American Superconductor Corporation ((AMSC)) surged 11.8% or $3.42 to $32.26 after the energy technologies company reported second quarter revenues rose 85% to $74.7 million from $40.4 million a year ago. Net income in the quarter was $4.3 million or 10 cents per diluted share compared to net loss of $4.1 million or 10 cents per share a year ago.

Apache Corporation ((APA)) rose 2.1% or $2.02 to $95.85 after the oil and gas company reported third quarter revenues fell 30.7% to $2.33 billion from $3.36 billion a year ago. Net income in the quarter fell 63% to $440.6 million or $1.30 per diluted share compared to net income of $1.19 billion or $3.52 per share a year ago.

Assurant, Inc ((AIZ)) added 4.1% or $1.21 to $30.51 after the specialty insurer said third quarter revenues rose 10.8% to $2.16 billion from $1.95 billion a year ago. Net income in the quarter was $144.7 million or $1.22 per diluted share compared to net loss of $111.4 million or 94 cents per share a year ago.

AutoNation, Inc ((AN)) added 2.2% or 41 cents to $18.50 after the automotive retailer reported third quarter revenues fell 13% to $2.92 billion from $3.36 billion a year ago. Net income in the quarter was $65 million or 36 cents per diluted share compared to net loss of $1.41 billion or $7.99 per share a year ago.

Avon Products, Inc ((AVP)) dropped 3.0% or $1.00 to $32.00 after the cosmetics company reported third quarter revenues fell 3.4% to $2.55 billion from $2.64 billion a year ago. Net income in the quarter fell 30% to $156.2 million or 36 cents per diluted share compared to net income of $222.6 million or 52 cents per share a year ago.

Baldwin & Lyons, Inc ((BWINA)) close unchanged at $21.46 an insurance company reported third quarter revenues rose 98.5% to $65.5 million from $33.0 million a year ago. Net income in the quarter was $14.3 million or 97 cents per diluted share compared to net loss of $7.3 million or 48 cents per share a year ago.

Ball Corporation ((BLL)) added 0.2% or 12 cents to $48.55 after the plastic and metal packaging company reported third quarter sales fell 2% to $1.97 billion from $2.01 billion a year ago. Net income in the quarter rose 1.8% to $103.7 million or $1.09 per diluted share compared to net income of $101.9 million or $1.05 per share a year ago.

Burger King Holdings, Inc ((BKC)) fell 3.9% or 68 cents to $16.61 after the hamburger chain reported first quarter revenues fell 5.4% to $636.9 million from $673.5 million a year ago. Net income in the quarter fell 6.4% to $46.6 million or 34 cents per diluted share compared to net income of $49.8 million or 36 cents per share a year ago.

Colgate-Palmolive Company ((CL)) fell 0.4% or 38 cents to $77.30 after the consumer products maker reported third quarter sales rose 0.3% to $4 billion from $3.99 billion a year ago. Net income in the quarter rose 18% to $590 million or $1.12 per diluted share compared to net income of $500 million or 94 cents per share a year ago.

Cott Corporation ((COT)) slipped 1.1% or 9 cents to $7.77 after soft-drink maker reported third quarter revenues fell 3.7% to $404.9 million from $420.5 million a year ago. Net income in the quarter was $13.9 million or 18 cents per diluted share compared to net loss of $87.6 million or $1.25 per share a year ago.

Digital Realty Trust, Inc ((DLR)) climbed 0.2% or 9 cents to $44.66 after the real estate investment trust reported third quarter revenues rose 15% to $163.2 million from $142.0 million a year ago. Net income in the quarter rose 65.3% to $12.4 million or 16 cents per diluted share compared to net income of $7.5 million or 10 cents per share a year ago.

Duke Realty Corporation ((DRE)) dropped 0.2% or 3 cents to $11.20 after the real estate investment trust said third quarter revenues rose 5.3% to $324.9 million from $308.6 million a year ago. Net loss in the quarter was $322.9 million or $1.44 per diluted share compared to net income of $11.5 million or 8 cents per share a year ago.

EMCOR Group, Inc ((EME)) rose 3.0% or 68 cents to $23.00 after the construction and engineering company reported third quarter revenues fell 20.3% to $1.37 billion from $1.72 billion a year ago. Net income in the quarter fell 17.7% to $40 million or 59 cents per diluted share compared to net income of $48.6 million or 72 cents per share a year ago.

Expedia, Inc ((EXPE)) increased 6.9% or $1.69 to $26.03 an online travel company reported third quarter revenues rose 2.3% to $852.4 million from $833.3 million a year ago. Net income in the quarter rose 23.4% to $117.0 million or 40 cents per diluted share compared to net income of $94.8 million or 33 cents per share a year ago.

Express Scripts, Inc ((ESRX)) fell 3.2% or $2.58 to $77.20 after the pharmacy benefit management company said third quarter revenues rose 3% to $5.62 billion from $5.45 billion a year ago. Net income in the quarter fell 2% to $197.6 million or 71 cents per diluted share compared to net income of $201.9 million or 81 cents per share a year ago.

Exxon Mobil Corporation ((XOM)) decreased 2.2% or $1.61 to $72.22 after the publicly traded oil company reported third quarter sales fell 40.2% to $82.3 billion from $137.7 billion a year ago. Net income in the quarter fell 68% to $4.73 billion or 98 cents per diluted share compared to net income of $14.8 billion or $2.85 per share a year ago.

The Goodyear Tire & Rubber Company ((GT)) decreased 7.8% or $1.06 to $12.40 after the tiremaker was downgraded to “underperform” from “buy” at Bank of America Corp.

Harleysville Group Inc ((HGIC)) fell 0.03% or 1 cent to $32.46 an insurance company said third quarter revenues rose 5% to $244.3 million from $232.5 million a year ago. Net income in the quarter rose 488% to $24.7 million or 88 cents per diluted share compared to net income of $4.2 million or 14 cents per share a year ago.

Kaydon Corporation ((KDN)) surged 18.2% or $5.64 to $36.67 after the industrial products maker reported third quarter sales fell 2.5% to $123.6 million from $126.8 million a year ago. Net income in the quarter fell 1.2% to $16.1 million or 48 cents per diluted share compared to net income of $16.3 million or 50 cents per share a year ago.

Kellogg Company ((K)) rose 1.6% or 83 cents to $50.82 after the food maker reported third quarter sales fell 0.3% to $3.28 billion from $3.29 billion a year ago. Net income in the quarter rose 5.6% to $361 million or 94 cents per diluted share compared to net income of $342 million or 89 cents per share a year ago.

The Lubrizol Corporation ((LZ)) added 0.9% or 67 cents to $69.89 after the chemical maker reported third quarter revenues fell 6.6% to $1.27 billion from $1.36 billion a year ago. Net income in the quarter rose 170% to $170.5 million or $2.46 per diluted share compared to net income of $63.2 million or 92 cents per share a year ago.

Owens-Illinois, Inc ((OI)) plunged 8.9% or $3.01 to $30.50 after the glass manufacturer said third quarter sales fell 6.5% to $1.87 billion from $2.0 billion a year ago. Net income in the quarter rose 61.2% to $126.7 million or 74 cents per diluted share compared to net income of $78.6 million or 46 cents per share a year ago.

Questar Corporation ((STR)) rose 5.2% or $2.10 to $42.04 after the natural gas-focused energy company said third quarter revenues fell 21% to $599.8 million from $760.0 million a year ago. Net income in the quarter fell 52% to $98.2 million or 56 cents per diluted share compared to net income of $204.2 million or $1.16 per share a year ago.

Symantec Corporation ((SYMC)) increased 6.1% or 96 cents to $16.69 after the network security provider said second quarter revenues fell 3.3% to $1.47 billion from $1.52 billion a year ago. Net income in the quarter rose 19% to $150 million or 18 cents per diluted share compared to net income of $126 million or 15 cents per share a year ago.

Vale S.A ((VALE)) climbed 0.3% or 8 cents to $24.30 after the iron ore producer said third quarter revenues fell 43% to $6.71 billion from $11.74 billion a year ago. Net income in the quarter fell 65% to $1.68 billion or 31 cents per diluted share compared to net income of $4.82 billion or 94 cents per share a year ago.

XL Capital Ltd (XL)) increased 4.6% or 75 cents to $16.97 after the Bermuda based reported higher than expected earnings.