GE, Guess?, Staples Rise

Mayank Mehta
01 Dec, 2009
New York City

General Electric and Vivendi SA agree to a deal involving NBC Universal. AIG surged 7% after it agreed to a swap of debt with preferred shares with the New York Fed. Guess? Inc jumped after it reported better than expected earnings.

[R]1:00 PM New York – General Electric and Vivendi SA agree to a deal involving NBC Universal. AIG surged 7% after it agreed to a swap of debt with preferred shares with the New York Fed. Guess? Inc jumped after it reported better than expected earnings.[/R]

Of the stocks in S&P 500 index, 4 increased, 492 declined and 4 were unchanged.

Netlist, Inc led the decliners in the S&P 500 index with a loss of 12.6% followed by losses in OmniVision Technologies, Inc of 12.2% and in SandRidge Energy, Inc of 4.1%.

Altera Corporation led gainers in the S&P 500 index with a rise of 4.8% followed by gains in American International Group, Inc 6.0%, in Ford Motor Company of 0.1% and in General Electric Company of 0.3%.

Other Movers

Altera Corporation ((ALTR)) the maker of programmable semiconductors added 4.9% or $1.04 to $22.05.

American International Group, Inc ((AIG)) increased 7.1% or $2.06 to $30.46 after the insurer today announced that it has closed two previously announced transactions with the Federal Reserve Bank of New York that have reduced the debt AIG owes by $25 billion in exchange for acquisition of preferred equity interests in certain newly formed subsidiaries.

Beacon Roofing Supply, Inc ((BECN)) added 5.3% or 91 cents to $16.28 after the distributor of roofing materials reported fourth quarter sales fell 14% to $487.7 million from $567.2 million a year ago. Net income in the quarter fell 23.7% to $19.0 million or 42 cents per diluted share compared to net income of $24.9 million or 55 cents per share a year ago.

China Nepstar Chain Drugstore Ltd ((NPD)) added 2.0% or 15 cents to $7.60 after the drugstore reported third quarter revenues fell 9% to Rmb 556.2 million from Rmb 613 million a year ago. Net income in the quarter rose 3.4% to Rmb 36.9 million or Rmb 0.35 per ADS compared to net income of Rmb 35.7 million or Rmb 0.32 per ADS a year ago.

Ford Motor Company ((F)) the automaker fell 0.2% or 2 cents to $8.87.

General Electric Company ((GE)) rose 0.3% or 5 cents to $16.06 after the company and Vivedi SA of France are agreed to a deal for the minority stake in NBC Universal. NBC Universal controlled by General Electric was valued at about $30 billion and 20% stake of Vivendi was estimated to be worth $5.8 billion.

General Electric is negotiating with Comcast to sell controlling stake of at least 51% in NBC Universal.

Guess?, Inc ((GES)) surged 13.5% or $5.01 to $42.07 after the clothing maker said third quarter net income increased slightly to $64.1 million compared to $64.0 million a year ago.

Netlist, Inc ((NLST)) the computer-memory systems maker rose 1.3% or 8 cents to $5.84.

OmniVision Technologies, Inc ((OVTI)) decreased 6.2% or 87 cents to 13.09 after the maker of semiconductor image-sensor devices said second quarter revenues rose 12% to $183.3 million from $163.9 million a year ago. Net income in the quarter was $8.1 million or 16 cents per diluted share compared to net loss of $5.3 million or 10 cents per share a year ago.

Staples, Inc ((SPLS)) advanced 2.2% or 52 cents to $23.84 after the office-supplies retailer reported third quarter sales fell 6% to $6.52 billion from $6.95 billion a year ago. Net income in the quarter rose 72% to $269.4 million or 37 cents per diluted share compared to net income of $156.7 million or 22 cents per share a year ago.

SandRidge Energy, Inc ((SD)) fell 6.0% or 54 cents to $8.84 after the producer of natural gas and crude oil said that it has entered into a definitive purchase agreement to acquire oil and gas properties in the Permian Basin from Forest Oil Corporation and one of its subsidiaries for $800 million, subject to customary closing conditions and purchase price adjustments.

Universal Technical Institute Inc ((UTI)) decreased 5.7% or $1.09 to $17.80 after the provider of automotive technician training reported fourth quarter revenues rose 17.6% to $99.5 million from $84.6 million a year ago. Net income in the quarter was $7.6 million or 32 cents per diluted share compared to net income of $551,000 or 2 cents per share a year ago.

Williams-Sonoma, Inc ((WSM)) the gourmet-cookware retailer rose 3.6% or 75 cents to $21.07.