Abercrombie, Goodyear Rise; Nordstrom Falls

Mayank Mehta
13 Nov, 2009
New York City

The Goodyear Tire & Rubber Company led gainers in the S&P 500 index with a rise of 6.7%. Abercrombie & Fitch Co declares quarterly dividend. Agilent Technologies, Inc fourth quarter earnings fall 89%. Nordstrom, Inc third quarter sales rise.

[R]2:00 PM New York – The Goodyear Tire & Rubber Company led gainers in the S&P 500 index with a rise of 6.7%. Abercrombie & Fitch Co declares quarterly dividend. Agilent Technologies, Inc fourth quarter earnings fall 89%. Nordstrom, Inc third quarter sales rise.[/R]

Of the stocks in S&P 500 index, 314 increased, 176 declined and 10 were unchanged.

Nordstrom, Inc led the decliners in the S&P 500 index with a loss of 5.2% followed by losses in Advanced Micro Devices, Inc of 4.1%, in Sunoco, Inc of 2.5%, in Micron Technology, Inc of 2.3% and in MBIA Inc of 1.8%.

The Goodyear Tire & Rubber Company led gainers in the S&P 500 index with a rise of 6.7% followed by gains in J. C. Penney Company, Inc 5.3%, in Juniper Networks, Inc of 4.5% and in Abercrombie & Fitch Co of 4.0%.

Other Movers

Abercrombie & Fitch Co ((ANF)) increased 6.4% or $2.37 to $39.13 after the teenage clothing retailer reported third quarter sales fell 14.6% to $765.4 million from $896.3 million a year ago. Net income in the quarter fell 39.3% to $38.8 million or 44 cents per diluted share compared to net income of $63.9 million or 72 cents per share a year ago.

Agilent Technologies, Inc ((A)) added 3.5% or 97 cents to $28.40 after the measurement company reported fourth quarter revenues fell 21% to $1.17 billion from $1.48 billion a year ago. Net income in the quarter fell 89% to $25 million or 7 cents per diluted share compared to net income of $231 million or 64 cents per share a year ago.

Blockbuster Inc ((BBI)) plunged 13.2% or 11 cents to $0.72 after the provider of media entertainment said third quarter revenues fell 21.5% to $910.5 million from $1.16 billion a year ago. Net loss in the quarter was $116.8 million or 60 cents per diluted share compared to net loss of $20.6 million or 11 cents per share a year ago.

Copa Holdings, S.A ((CPA)) decreased 0.1% or 5 cents to $47.20 after the provider of airline passenger and cargo service said third quarter revenues fell 7.2% to $323.7 million from $348.9 million a year ago. Net income in the quarter rose 87.4% to $43.1 million or 99 cents per diluted share compared to net income of $23.0 million or 53 cents per share a year ago.

Darling International Inc ((DAR)) slipped 3.1% or 22 cents to $6.80 after the provider of rendering, recycling and recovery solutions to the food industry said third quarter sales fell 32.3% to $159.9 million from $236.2 million a year ago. Net income in the quarter fell 30% to $16.1 million or 19 cents per diluted share compared to net income of $23.0 million or 28 cents per share a year ago.

ESCO Technologies Inc ((ESE)) plunged 14.3% or $5.37 to $31.99 after the maker of radio frequency shielding and filtration products said that its board of directors has voted to initiate a quarterly cash dividend payable at an annual rate of 32 cents per share. The first quarterly dividend of 8 cents per share will be paid on January 19, 2010 to stockholders of record as of January 4, 2010.

The Goodyear Tire & Rubber Company ((GT)) added 6.2% or 86 cents to $14.60 after the tire maker was upgraded to “buy” from “neutral” by Goldman Sachs Group Inc.

J. C. Penney Company, Inc ((JCP)) gained 4.6% or $1.36 to $30.75 after the department-store operator reported third quarter sales fell 3.2% to $4.18 billion from $4.32 billion a year ago. Net income in the quarter fell 78.2% to $27 million or 11 cents per diluted share compared to net income of $124 million or 56 cents per share a year ago.

Liberty Global, Inc ((LBTYA)) fell 9.2% or $2.13 to $20.97 after the cable media content company agreed to acquire Unitymedia for an equity purchase price of €2.0 billion ($3.0 billion), from its parent, which is owned by a group of private equity shareholders led by BC Partners and Apollo.

Lime Energy Co ((LIME)) the provider of energy efficiency engineering plunged 21.9% or $1.39 to $4.95.

Nordstrom, Inc ((JWN)) declined 4.7% or $1.65 to $32.86 after the department store operator said third quarter revenues rose 4.3% to $1.96 billion from $1.88 billion a year ago. Net income in the quarter rose 17% to $83 million or 38 cents per diluted share compared to net income of $71 million or 33 cents per share a year ago.

Sunoco, Inc ((SUN)) fell 3.0% or 84 cents to $26.38 after the refiner was downgraded to “sell” from “neutral” at Goldman Sachs Group Inc.

Penford Corporation ((PENX)) rose 5.5% or 36 cents to $6.86 after the maker of natural-based ingredient systems for industrial and food applications reported fourth quarter sales rose 124% to $70.8 million from $31.6 million a year ago. Net loss in the quarter was $34.8 million or $3.12 per diluted share compared to net loss of $20.9 million or $1.87 per share a year ago.

PetSmart, Inc ((PETM)) rose 3.4% or 86 cents to $25.56 after the pet-store chain was upgraded to “buy” from “neutral” at Goldman Sachs Group Inc.

Teekay Corporation ((TK)) after the provider of international crude oil and petroleum product transportation services reported third quarter sales fell 43% to $500.4 million from $880.9 million a year ago. Net loss in the quarter was $142.2 million or $1.96 per diluted share compared to net income of $103.1 million or $1.41 per share a year ago.

Telestone Technologies Corporation ((TSTC)) surged 19.1% or $1.93 to $12.01 after the Chinese maker of wireless gear said third quarter revenues increased 124.7% to $18.9 million from $8.4 million a year ago.

The Walt Disney Company ((DIS)) increased 2.2% or 65 cents to $29.70 after the entertainment company said fourth quarter revenues rose 4.4% to $9.87 billion from $9.45 billion a year ago. Net income in the quarter rose 18% to $895 million or 47 cents per diluted share compared to net income of $760 million or 40 cents per share a year ago.

Yingli Green Energy Holding Company ((YGE)) increased 11.2% to $13.38 after it reported diluted earnings of Rmb120.8 million or Rmb 0.79 per share on revenues of Rmb2.2 billion in the third quarter.