Las Vegas Sands, Harman Surge; McAfee Drops

Mayank Mehta
30 Oct, 2009
New York City

Harman International Industries led gainers in the S&P 500 index with a rise of 18.6%. 3PAR Inc second quarter loss narrows. Avnet, Inc first quarter beats analyst expectations. BMC Software, Inc second quarter earnings rise 35%. Las Vegas Sands surges on Hong Kong listing approval.

[R]12:15 PM New York – Harman International Industries led gainers in the S&P 500 index with a rise of 18.6%. 3PAR Inc second quarter loss narrows. Avnet, Inc first quarter beats analyst expectations. BMC Software, Inc second quarter earnings rise 35%.[/R]

Of the stocks in S&P 500 index, 104 increased, 389 declined and 7 were unchanged.

Aon Corporation led the decliners in the S&P 500 index with a loss of 9.3% followed by losses in McAfee, Inc of 9.1%, in ITT Corporation of 5.6%, in MetLife, Inc of 4.8% and in Lincoln National Corporation of 3.9%.

Harman International Industries led gainers in the S&P 500 index with a rise of 18.6% followed by gains in The Estee Lauder Companies Inc 9.7%, in Genworth Financial, Inc of 8.3% and in BMC Software, Inc of 3.6%.

Other Movers

3PAR Inc ((PAR)) added 0.7% or 8 cents to $10.69 after the provider of utility storages said second quarter revenues rose 2% to $46.1 million from $45.1 million a year ago. Net loss in the quarter was $758,000 or 1 cent per diluted share compared to net loss of $1.2 million or 2 cents per share a year ago.

Alcatel Lucent ((ALU)) fell 6.4% or 26 cents to $3.91 after the communications solutions provider reported third quarter sales fell 9.8% to €3.7 billion from €4.1 billion a year ago. Net loss in the quarter was €182 million or €0.08 per diluted share compared to net loss of €40 million or €0.02 per share a year ago.

Amerigroup Corporation ((AGP)) added 3.1% or 69 cents to $22.74 after the healthcare company reported third quarter revenues rose 18% to $1.3 billion from $1.1 billion a year ago. Net income in the quarter fell 40.6% to $22.5 million or 43 cents per diluted share compared to net income of $37.9 million or 71 cents per share a year ago.

Aon Corporation ((AOC)) fell 5.5% or $2.30 to $38.89 after the insurance brokerage reported third quarter revenues fell 2% to $1.81 billion from $1.85 billion a year ago. Net income in the quarter rose 2.6% to $120 million or 41 cents per diluted share compared to net income of $117 million or 40 cents per share a year ago.

Advanced Semiconductor Engineering, Inc ((ASX)) decreased 1.2% or 5 cents to $4.00 after the chip packaging and testing company reported third quarter revenues fell 2.3% to NT$25.2 billion from NT$25.8 billion a year ago. Net income in the quarter rose 45.5% to NT$3.2 billion or NT$0.61 per diluted share compared to net income of NT$2.2 billion or NT$0.41 per share a year ago.

Acme Packet, Inc ((APKT)) added 4.3% or 44 cents to $10.30 after the maker of devices to transmit phone calls and video said third quarter net income $3.6 million or 6 cents per diluted share compared to net income of $2.0 million or 3 cents per share a year ago.

Avnet, Inc ((AVT)) advanced 7.1% or $1.69 to $25.36 after the electronic-parts and computer hardware distributor said first quarter sales fell 3% to $4.36 billion from $4.49 billion a year ago. Net income in the quarter fell 43.6% to $50.9 million or 33 cents per diluted share compared to net income of $90.3 million or 59 cents per share a year ago.

Barnes Group Inc ((B)) slipped 0.06% or 1 cent to $17.24 after the maker of aerospace and industrial components reported third quarter sales fell 22% to $260.3 million from $333.8 million a year ago. Net income in the quarter fell 61% to $10.9 million or 20 cents per diluted share compared to net income of $27.8 million or 49 cents per share a year ago.

Bare Escentuals, Inc ((BARE)) surged 13.4% or $1.68 to $14.17 after the maker of mineral-based cosmetics said third quarter net income $22.6 million or 24 cents per diluted share compared to net income of $22.9 million or 25 cents per share a year ago.

BMC Software, Inc ((BMC)) climbed 2.2% or 80 cents to $37.22 after the software vendor said second quarter revenues fell 1% to $461.8 million from $466.7 million a year ago. Net income in the quarter rose 35% to $94.2 million or 50 cents per diluted share compared to net income of $69.8 million or 36 cents per share a year ago.

Chevron Corporation ((CVX)) rose 0.03% or 2 cent to $77.97 after the oil company reported third quarter sales fell 41% to $46.6 billion from $78.9 billion a year ago. Net income in the quarter fell 51.5% to $3.83 billion or $1.92 per diluted share compared to net income of $7.89 billion or $3.85 per share a year ago.

ComScore, Inc ((SCOR)) fell 3.1% or 54 cents to $16.45 after the digital marketing intelligence platform said third quarter revenues rose 4% to $31.9 million from $30.7 million a year ago. Net income in the quarter rose 64.3% to $945 million or 3 cents per diluted share compared to net income of $575 million or 2 cents per share a year ago.

CMS Energy Corporation ((CMS)) the energy company reported third quarter revenues fell 11% to $1.27 billion from $1.43 billion a year ago. Net income in the quarter fell 6.4% to $73 million or 31 cents per diluted share compared to net income of $78 million or 33 cents per share a year ago.

Constellation Energy Group Inc ((CEG)) rose 3.2% or $1.02 to $32.15 an energy company reported third quarter revenues fell 24.2% to $4.03 billion from $5.32 billion a year ago. Net income in the quarter was $137.6 million or 69 cents per diluted share compared to net loss of $225.7 million or $1.27 per share a year ago.

Coventry Health Care, Inc ((CVH)) gained 3.6% or 76 cents to $21.67 after the health insurer reported third quarter sales rose 17.4% to $3.44 billion from $2.93 billion a year ago. Net income in the quarter fell 17.4% to $70.6 million or 48 cents per diluted share compared to net income of $85.5 million or 58 cents per share a year ago.

Cummins Inc ((CMI)) rose 4.5% or $2.08 to $48.00 after the engine maker reported third quarter sales fell 31.4% to $2.53 billion from $3.69 billion a year ago. Net income in the quarter fell 58.5% to $95 million or 48 cents per diluted share compared to net income of $229 million or $1.17 per share a year ago.

Dominion Resources, Inc ((D)) rose 0.09% or 3 cents to $34.66 after the power company reported third quarter revenues fell 16.5% to $3.65 billion from $4.37 billion a year ago. Net income in the quarter rose 17% to $594 million or $1.0 per diluted share compared to net income of $508 million or 87 cents per share a year ago.

EnerSys ((ENS)) fell 2.0% or 40 cents to $22.46 after the distributor of industrial batteries reported second quarter sales fell 30.3% to $367.3 million from $526.8 million a year ago. Net income in the quarter fell 47% to $12.9 million or 26 cents per diluted share compared to net income of $24.4 million or 48 cents per share a year ago.

Genworth Financial, Inc ((GNW)) surged 17.1% or $1.49 to $10.18 after the insurer said third quarter revenues rose 10% to $2.39 billion from $2.17 billion a year ago. Net income in the quarter was $19 million or 4 cents per diluted share compared to net loss of $258 million or 60 cents per share a year ago.

Harman International ((HAR)) surged 18% to $38.81 after it reported fiscal first quarter 2010 revenues declined 13% to $757 million and from a year ago but increased 13% from the previous quarter. Adjusted quarterly non-GAAP profit in the quarter was $5 million compared to a loss of $34 million.

Las Vegas Sands Corp ((LVS)) the casino company gained 7.1% or $1.05 to $15.81 after its Hong Kong unit received an approval to raise as much as $2 billion in a public offering.

Luxottica Group S.p.A ((LUX)) increased 5.6% or $1.37 to $25.60 after the fashion and luxury goods retailer said third quarter sales rose 0.8% to €1.22 billion from €1.21 billion a year ago. Net income in the quarter fell 20.6% to €83.1 million or €0.18 per diluted share compared to net income of €104.6 million or €0.23 per share a year ago.

McAfee, Inc ((MFE)) dropped 5.8% or $2.55 to $41.20 after the maker of anti-virus software said third quarter revenues rose 18.5% to $485.3 million from $409.7 million a year ago. Net income in the quarter fell 24.6% to $36.8 million or 23 cents per diluted share compared to net income of $48.8 million or 31 cents per share a year ago.

MetLife, Inc ((MET)) fell 1.7% or 65 cents to $36.19 after the life insurer said third quarter revenues fell 1.6% to $12.4 billion from $12.6 billion a year ago. Net loss in the quarter was $650 million or 79 cents per diluted share compared to net income of $600 million or 83 cents per share a year ago.

Morningstar, Inc ((MORN)) decreased 0.2% or 15 cents to $50.93 after the mutual fund investment data and information provider said third quarter sales fell 4.3% to $120.1 million from $125.5 million a year ago. Net income in the quarter rose 1.4% to $22.5 million or 45 cents per diluted share compared to net income of $22.2 million or 45 cents per share a year ago.

Motorola, Inc ((MOT)) added 9.8% or 19 cents to $8.93 after the maker of communications equipment said third quarter sales fell 27% to $5.45 billion from $7.48 billion a year ago. Net income in the quarter was $12 million or 1 cent per diluted share compared to net loss of $397 million or 18 cents per share a year ago.

Regis Corporation ((RGS)) rose 5.4% or 87 cents to $16.77 after the hair care company said first quarter revenues fell 1.3% to $605.6 million from $613.5 million a year ago. Net income in the quarter fell 46.2% to $7.8 million or 14 cents per diluted share compared to net income of $14.5 million or 34 cents per share a year ago.

The Shaw Group Inc ((SHAW)) fell 4.2% or $1.19 to $26.60 after the engineering and construction company said fourth quarter revenues rose 1.6% to $1.86 billion from $1.83 billion a year ago. Net income in the quarter fell 87% to $10.7 million or 13 cents per diluted share compared to net income of $82.6 million or 98 cents per share a year ago.

Southwestern Energy Company ((SWN)) rose 5.2% or $2.27 to $45.89 after the natural gas and oil producer said third quarter sales fell 26.4% to $502.9 million from $683 million a year ago. Net income in the quarter fell 45.8% to $118.3 million or 34 cents per diluted share compared to net income of $218.2 million or 63 cents per share a year ago.

Stanley, Inc ((SXE)) gained 5.0% or $1.28 to $27.07 after the state department was upgraded to “outperform” from “market perform” at Wells Fargo,

Tessera Technologies, Inc ((TSRA)) plunged 10.6% or $2.86 to $24.00 after the developer of miniaturization technology for electronics makers said third quarter sales rose 4% to $66.1 million from $63.5 million a year ago. Net income in the quarter was $12.1 million or 24 cents per diluted share compared to net loss of $5.4 million or 11 cents per share a year ago.