Priceline Surges; Fluor, Melco Crown Fall

123jump.com Staff
10 Nov, 2009
New York City

MBIA Inc led the decliners in the S&P 500 index with a loss of 17.0%. Arena Pharmaceuticals, Inc almost halves third quarter net loss. Electronic Arts Inc quarterly loss widens and announces 1,500 lay-offs. Melco Crown Entertainment plunges 14%.

[R]1:30 PM New York – MBIA Inc led the decliners in the S&P 500 index with a loss of 17.0%. Arena Pharmaceuticals, Inc almost halves third quarter net loss. Electronic Arts Inc quarterly loss widens and announces 1,500 lay-offs. Melco Crown Entertainment plunges 14%.[/R]

Of the stocks in S&P 500 index, 232 increased, 262 declined and 6 were unchanged.

MBIA Inc led the decliners in the S&P 500 index with a loss of 17.0% followed by losses in Electronic Arts Inc of 7.4%, in Fluor Corporation of 5.6%, in Sprint Nextel Corporation of 5.5% and in E*TRADE Financial Corporation of 3.1%.

Priceline.com Incorporated led gainers in the S&P 500 index with a rise of 10.9% followed by gains in American International Group, Inc 6.6%, in Rockwell Automation, Inc of 3.0% and in Expedia, Inc of 1.7%.

Other Movers

American Apparel, Inc (APP)) was unchanged at $2.61 after the clothing maker reported third quarter revenues fell 3% to $150.3 million from $154.8 million a year ago. Net income in the quarter rose 82.6% to $4.2 million or 5 cents per diluted share compared to net income of $2.3 million or 3 cents per share a year ago.

American International Group, Inc ((AIG)) the insurer added 4.6% or $1.67 to $37.85.

Arena Pharmaceuticals, Inc ((ARNA)) added 2.8% or 10 cents to $3.59 after the clinical-stage biopharmaceutical company said third quarter revenues rose 37% to $2.6 million from $1.9 million a year ago. Net loss in the quarter was $34.8 million or 38 cents per diluted share compared to net loss of $56.2 million or 76 cents per share a year ago.

ArvinMeritor, Inc ((ARM)) rose 1.2% or 11 cents to $8.80 after the auto parts maker reported fourth quarter sales fell 36% to $984 million from $1.53 billion a year ago. Net loss in the quarter was $12 million or 17 cents per diluted share compared to net loss of $153 million or $2.12 per share a year ago.

Beazer Homes USA, Inc ((BZH)) surged 16.6% or 78 cents to $5.47 after the homebuilder said fourth quarter revenue declined $376.3 million from $649.8 million a year ago.

Carter’s, Inc ((CRI)) plunged 12.2% or $2.93 to $21.11 after the maker of children’s clothes said that it will restate its financial statements for certain prior periods and, as a result, that it does not expect to timely file its quarterly report on Form 10-Q for the period ended October 3, 2009.

Clear Channel Outdoor Holdings, Inc ((CCO)) advanced 2.3% or 17 cents to $7.50 after the media and entertainment said third quarter revenues fell 19% to $660.6 million from $813.4 million a year ago. Net loss in the quarter was $34.4 million or 10 cents per diluted share compared to net income of $9.1 million or 3 cents per share a year ago.

DivX, Inc ((DIVX)) climbed 3.8% or 20 cents to $5.45 after the digital media company said third quarter revenues fell 32% to $16.6 million from $24.4 million a year ago. Net income in the quarter rose 21.2% to $4.0 million or 12 cents per diluted share compared to net income of $3.3 million or 10 cents per share a year ago.

DTS, Inc ((DTSI)) decreased 3.0% or 93 cents to $29.90 an entertainment technology company said third quarter revenues rose 8.6% to $15.1 million from $13.9 million a year ago. Net income in the quarter fell 5% to $1.9 million or 11 cents per diluted share compared to net income of $2 million or 11 cents per share a year ago.

Electronic Arts Inc ((ERTS)) declined 3.3% or 66 cents to $18.87 after the video game publisher said second quarter revenues fell 12% to $788 million from $894 million a year ago. Net loss in the quarter was $391 million or $1.21 per diluted share compared to net loss of $310 million or 97 cents per share a year ago.

Fluor Corporation ((FLR)) dropped 6.0% or $2.89 to $45.12 after the engineering and construction firm said third quarter revenues fell 4.4% to $5.42 billion from $5.67 billion a year ago. Net income in the quarter fell 11% to $162.1 million or 89 cents per diluted share compared to net income of $181.9 million or $1.0 per share a year ago.

Fossil, Inc ((FOSL)) rose 6.1% or $1.78 to $30.69 after the watchmaker reported third quarter revenues fell 7% to $381.4 million from $409.8 million a year ago. Net income in the quarter fell 3.3% to $35.3 million or 52 cents per diluted share compared to net income of $36.5 million or 54 cents per share a year ago.

Healthcare Realty Trust Incorporated ((HR)) rose 4.5% or 91 cents to $20.89 after the real estate investment trust said third quarter revenues rose 17% to $64.1 million from $54.7 million a year ago. Net income in the quarter rose 65.5% to $9.1 million or 15 cents per diluted share compared to net income of $5.5 million or 11 cents per share a year ago.

Home Inns & Hotels Management Inc ((HMIN)) surged 11.9% or $3.94 to $36.83 an economy hotel chain said third quarter revenues rose 38% to Rmb 727.4 million from Rmb 527.3 million a year ago. Net income in the quarter rose 194% to Rmb 86.7 million or Rmb 0.99 per diluted share compared to net income of Rmb 29.5 million or Rmb 0.44 per share a year ago.

Inter Parfums, Inc ((IPAR)) rose 0.4% or 5 cents to $11.44 after the fragrance maker said third quarter sales fell 5% to $117.5 million from $123.5 million a year ago. Net income in the quarter rose 17.7% to $7.3 million or 24 cents per diluted share compared to net income of $6.2 million or 20 cents per share a year ago.

JA Solar Holdings Co., Ltd ((JASO)) increased 8.2% or 34 cents to $4.46 after the manufacturer of high-performance solar products reported third quarter revenues fell 37.7% to Rmb 1.32 billion from Rmb 2.12 billion a year ago. Net income in the quarter was Rmb 106.8 million or Rmb 0.66 per diluted share compared to net loss of Rmb 142.8 million or Rmb 2.47 per share a year ago.

McDermott International, Inc ((MDR)) increased 1.9% or 47 cents to $24.63 an engineering and construction company said third quarter revenues rose 1% to $1.68 billion from $1.66 billion a year ago. Net income in the quarter rose 38% to $118.1 million or 50 cents per diluted share compared to net income of $85.6 million or 37 cents per share a year ago.

Melco Crown Entertainment Ltd ((MPEL)) dropped 13.4% or 66 cents to $4.26 after more casinos are on the way in Macau region. Institutional investors have been selling the shares of heavily indebted casino that relies on the day trippers from China.

Pike Electric Corporation ((PIKE)) plunged 15.0% or $1.86 to $10.50 after the provider of energy solutions said first quarter revenues fell 31.4% to $127.2 million from $185.5 million a year ago. Net loss in the quarter was $2.7 million or 8 cents per diluted share compared to net income of $18.3 million or 54 cents per share a year ago.

Priceline.com Incorporated ((PCLN)) surged 16.1% or $28.07 to $201.80 after the global online travel company said third quarter revenue increased 30.1% to $730.7 million.

Qiagen N.V ((QGEN)) added 4.2% or 95 cents to $23.34 after the genetic-tests specialist reported third quarter sales rose 12.5% to $259.7 million from $230.8 million a year ago. Net income in the quarter rose 81.3% to $37.7 million or 18 cents per diluted share compared to net income of $20.8 million or 10 cents per share a year ago.

Rentrak Corporation ((RENT)) rose 0.5% or 8 cents to $16.08 an advertising-related services provider said second quarter revenues fell 12.3% to $21.3 million from $24.3 million a year ago. Net income in the quarter fell 19.7% to $676,000 or 6 cents per diluted share compared to net income of $842,000 or 8 cents per share a year ago.

Stifel Financial Corp ((SF)) increased 3.7% or $2.00 to $54.98 after the finance company said third quarter revenues rose 32.3% to $289.7 million from $218.9 million a year ago. Net income in the quarter rose 72.7% to $22.1 million or 67 cents per diluted share compared to net income of $12.8 million or 46 cents per share a year ago.

Talecris Biotherapeutics Holdings Corp ((TLCR)) rose 9.3% or $1.94 to $22.70 after the maker of blood-plasma therapies was upgraded “overweight” at Morgan Stanley and JPMorgan Chase & Co.

Tyco International Ltd ((TYC)) dropped 3.5% or $1.26 to $34.13 after the provider of security products and services reported fourth quarter revenues fell 16.3% to $4.42 billion from $5.28 billion a year ago. Net income in the quarter fell 52.7% to $205 million or 43 cents per diluted share compared to net income of $434 million or 91 cents per share a year ago.

United Rentals, Inc ((URI)) fell 6.6% or 66 cents to $9.21 after the construction-rental company said that it is offering $150 million ($172.5 million if the underwriters’ over-allotment option is exercised in full) principal amount of convertible senior unsecured notes due 2015, and its subsidiary, United Rentals (North America), Inc. is offering $400 million principal amount of senior unsecured notes due 2019 in separate registered public offerings.