3Com, AMD, Dow Chemical Rise

Mayank Mehta
12 Nov, 2009
New York City

Advanced Micro Devices, Inc led gainers in the S&P 500 index with a rise of 21.8% followed by gains in Dow Chemical 7.1%, in JDS Uniphase of 7.1%, in MetroPCS Communications, Inc of 2.4% and in Nasdaq OMX Group of 2.4%.

[R]3:00PM New York – Macy's, Inc led the decliners in the S&P 500 index with a loss of 8.0%. Advance Auto Parts, Inc third quarter net income rises. Computer Sciences Corp second quarter net income falls. AMD surges on a patent settlement with Intel.[/R]

Of the stocks in S&P 500 index, 339 increased, 155 declined and 6 were unchanged.

Macy's, Inc led the decliners in the S&P 500 index with a loss of 8.0% followed by losses in J. C. Penney Company, Inc of 4.1%, in Priceline.com Incorporated of 3.6%, in Kohl’s Corporation of 3.1% and in GameStop Corp of 2.9%.

Pulte Homes, Inc led gainers in the S&P 500 index with a rise of 8.1% followed by gains in KB Home 6.6%, in MBIA Inc of 6.5% and in D.R. Horton, Inc of 5.7%.

Other Movers

3Com Corporation ((COMS)) surged 31.3% or $1.78 to $7.47 after the personal-computer maker said that they have entered into a definitive agreement under which HP will purchase the company, a leading provider of networking switching, routing and security solutions, at a price of $7.90 per share in cash or an enterprise value of approximately $2.7 billion.

AECOM Technology Corporation ((ACM)) decreased 2.8% or 72 cents to $24.75 after the provider of professional technical and management support services reported fourth quarter revenues flat at $1.63 billion from $1.63 billion a year ago. Net income in the quarter rose 25% to $54.3 million or 48 cents per diluted share compared to net income of $43.5 million or 41 cents per share a year ago.

Advanced Micro Devices ((AMD)) surged 22% to $6.51 after Intel Corp agreed to pay the company $1.25 billion and agreed into a comprehensive cross licensing arrangement for five years. Intel also agreed to a certain business practice requirements in the future to meet the terms of the agreement.

Advance Auto Parts, Inc ((AAP)) decreased 3.6% or $1.48 to $38.80 after the automotive parts retailer said third quarter sales rose 6% to $1.26 billion from $1.19 billion a year ago. Net income in the quarter rose 10.3% to $62 million or 65 cents per diluted share compared to net income of $56.2 million or 58 cents per share a year ago.

Applied Materials, Inc ((AMAT)) added 1.9% or 25 cents to $13.25 after the semiconductor equipment maker said fourth quarter sales fell 25% to $1.53 billion from $2.04 billion a year ago. Net income in the quarter fell 40.3% to $137.9 million or 10 cents per diluted share compared to net income of $231.1 million or 17 cents per share a year ago.

Alliant Techsystems Inc ((ATK)) advanced 2.6% or $2.17 to $85.41 after the supplier of ammunition to the U.S. military said second quarter sales rose 11% to $1.2 billion.

Brooks Automation, Inc ((BRKS)) added 0.6% or 5 cents to $7.49 after the provider of automation, vacuum and instrumentation solutions reported fourth quarter revenues fell 40% to $64.1 million from $106.9 million a year ago. Net loss in the quarter was $14.5 million or 23 cents per diluted share compared to net loss of $215.9 million or $3.45 per share a year ago.

Brocade Communications Systems, Inc ((BRCD)) plunged 12.0% or $1.11 to $8.15 after the maker of networking gear that connects storage computers was downgraded to “neutral” from “overweight” at Piper Jaffray Cos.

BCE Inc ((BCE)) increased 5.0% or $1.30 to $27.18 after the phone company reported third quarter revenues rose 0.5% to $4.46 billion from $4.44 billion a year ago. Net income in the quarter rose 125% to $558 million or 72 cents per diluted share compared to net income of $248 million or 31 cents per share a year ago.

Computer Sciences Corporation ((CSC)) declined 2.9% or $1.60 to $53.00 after the information technology services provider said second quarter revenues fell 4.7% to $4.04 billion from $4.24 billion a year ago. Net income in the quarter fell 52.2% to $216 million or $1.40 per diluted share compared to net income of $452 million or $2.95 per share a year ago.

Ctrip.com International, Ltd ((CTRP)) surged 12.0% or $7.74 to $72.03 after the travel service provider said third quarter revenues rose 47% to Rmb 583.4 million from Rmb 397.0 million a year ago. Net income in the quarter rose 80.4% to Rmb 188.5 million or Rmb 2.65 per ADS compared to net income of Rmb 104.5 million or Rmb 1.52 per ADS a year ago.

Green Mountain Coffee Roasters, Inc ((GMCR)) the specialty coffee industry fell 8.6% or $6.56 to $69.32.

JDS Uniphase Corporation ((JDSU)) the maker of telecommunications test equipment surged 9.4% or 68 cents to $7.88.

James River Coal Company ((JRCC)) dropped 7.8% or $1.72 to $20.18 after the mines, processes and sells bituminous said that it intends to offer, subject to market conditions and other factors, $125 million aggregate principal amount of convertible senior notes due 2015 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.

Kohl’s Corporation ((KSS)) added 0.8% or 46 cents to $55.05 after the department store operator reported third quarter sales rose 6.6% to $4.05 billion from $3.80 billion a year ago. Net income in the quarter rose 20.6% to $193 million or 63 cents per diluted share compared to net income of $160 million or 52 cents per share a year ago.

Lee Enterprises, Incorporated ((LEE)) fell 1.7% or 6 cents to $3.47 after the provider of local news, information and advertising reported fourth quarter revenues fell 20% to $195.8 million from $244.9 million a year ago. Net income in the quarter was $1.8 million or 4 cents per diluted share compared to net loss of $192.2 million or $4.34 per share a year ago.

Mobile TeleSystems ((MBT)) added 1.4% or 82 cents to $50.80 after the Russia’s mobile-phone company was upgraded to “buy” from “neutral” at UBS AG.

RailAmerica, Inc ((RA)) climbed 0.3% or 4 cents to $12.54 after the short-line railroad operator said third quarter revenues fell 17.5% to $110.1 million from $133.4 million a year ago. Net income in the quarter rose 20.7% to $3.5 million or 8 cents per diluted share compared to net income of $2.9 million or 7 cents per share a year ago.

Seahawk Drilling, Inc ((HAWK)) decreased 2.9% or 84 cents to $27.70 after the drilling company reported third quarter revenues fell 59% to $67.6 million from $164 million a year ago. Net loss in the quarter was $32.4 million or $2.79 per diluted share compared to net income of $43.6 million or $3.77 per share a year ago.

Tetra Tech, Inc ((TTEK)) fell 5.3% or $1.44 to $25.73 after the provider of water engineering services said fourth quarter revenues fell 11.4% to $575.1 million from $649.2 million a year ago. Net income in the quarter rose 12.6% to $20.5 million or 33 cents per diluted share compared to net income of $18.2 million or 30 cents per share a year ago.

Urban Outfitters, Inc ((URBN)) declined 0.8% or 27 cents to $32.00 after the apparel retailer reported third quarter sales rose 6% to $505.9 million from $478 million a year ago. Net income in the quarter rose 5% to $62.4 million or 36 cents per diluted share compared to net income of $59.3 million or 35 cents per share a year ago.

Western Gas Partners, LP ((WES)) advanced 0.2% or 5 cents to $18.47 after the company engaged in processing and transporting natural gas said third quarter revenues fell 35.5% to $61.0 million from $94.6 million a year ago. Net income in the quarter fell 5% to $17 million or 30 cents per diluted share compared to net income of $17.9 million or 32 cents per share a year ago.

Youbet.com, Inc ((UBET)) surged 10.3% or 25 cents to $2.66 after the online- betting site for horse racing company entered into a definitive merger agreement under which CDI would acquire all of the outstanding shares of the company in a transaction valued at approximately $126.8 million based on the Tuesday closing price of CDI common stock.