GameStop, Walgreen Fall; Santaraus Rises

Mayank Mehta
02 Dec, 2009
New York City

Fifth Third Bancorp led gainers in the S&P 500 index with a rise of 3.0%. Charming Shoppes, Inc third quarter sales fall 17% and comparable same-store sales decreased 13%. GameStop Corp dropped more than 8% after Wal-Mart offers deeper discounts for video games. Walgreen Co decreased 4%.

[R]11:30 AM New York – Fifth Third Bancorp led gainers in the S&P 500 index with a rise of 3.0%. Charming Shoppes, Inc third quarter sales fall 17% and comparable same-store sales decreased 13%. GameStop Corp dropped more than 8% after Wal-Mart offers deeper discounts for video games. Walgreen Co decreased 4% after it said November same store sales increased 3.9%.[/R]

Of the stocks in S&P 500 index, 365 increased, 125 declined and 10 were unchanged.

GameStop Corp led the decliners in the S&P 500 index with a loss of 6.0% followed by losses in Walgreen Co of 5.0% and in Constellation Brands, Inc of 4.8%, in Cummins Inc of 2.4% and in Morgan Stanley of 2.0%.

Fifth Third Bancorp led gainers in the S&P 500 index with a rise of 3.0% followed by gains in KB Home 2.9%, in Genworth Financial, Inc of 2.7% and in CF Industries Holdings, Inc of 2.6%.

Other Movers

AMR Corporation ((AMR)) the airline industry gained 6.3% or 40 cents to $6.69.

Charming Shoppes, Inc ((CHRS)) decreased 0.4% or 2 cents to $4.80 after the specialty apparel retailer reported third quarter sales fell 17% to $460.2 million from $553.1 million a year ago. Net loss in the quarter was $48.4 million or 42 cents per diluted share compared to net loss of $83.8 million or 73 cents per share a year ago.

The Descartes Systems Group Inc ((DSGX)) added 7.8% or 39 cents to $5.35 after the provider of logistics management software and services reported third quarter revenues rose 11% to $18.9 million from $17 million a year ago. Net income in the quarter fell 57% to $988,000 or 2 cents per diluted share compared to net income of $2.3 million or 4 cents per share a year ago.

Delta Air Lines, Inc ((DAL)) advanced 5.3% or 46 cents to $9.10 and the Nigerian Eagle Airlines and the company signed a memorandum of understanding to explore areas of commercial cooperation that will expand travel options between North America and Nigeria.

GameStop Corp ((GME)) dropped 8.7% of $2.07 to $21.76 after Wal-Mart offered deep discount to several video games according to a research note released by an analyst Tony Wible with Janney Montgomery Scott LLC. The holiday sales of video games are expected to rise at least 3% from a year ago.

The Pantry, Inc ((PTRY)) gained 5.5% or 83 cents to $15.79 after the convenience store chain reported fourth quarter sales fell 27.5% to $1.82 billion from $2.51 billion a year ago. Net income in the quarter fell 42% to $13.3 million or 60 cents per diluted share compared to net income of $22.9 million or $1.03 per share a year ago.

Regency Energy Partners LP ((RGNC)) decreased 5.3% or $1.07 to $18.90 after the natural-gas processor today announced that it has priced an upsized public offering of 10,500,000 common units representing limited partner interests at $19.12 per common unit. In connection with the offering, Company granted the underwriters a 30-day option to purchase up to an additional 1,575,000 common units.

Santarus, Inc ((SNTS)) surged 20.9% or 90 cents to $5.19 after the maker of a fast-acting acid-reflux drug said that the U.S. Food and Drug Administration has approved Schering-Plough HealthCare Products, Inc.’s, New Drug Application for Zegerid capsules with a dosage strength of 20 mg of omeprazole for over-the-counter treatment of frequent heartburn.

SunTrust Banks, Inc ((STI)) added 0.3% or 8 cents to $23.28 after the bank was upgraded to “outperform” from “neutral” at Credit Suisse Group AG.

SWS Group, Inc ((SWS)) the financial services firm fell 0.6% or 8 cents to $12.60.

Synovis Life Technologies, Inc ((SYNO)) rose 5.6% or 70 cents to $13.00 after the medical device company reported fourth quarter revenues rose 18% to $15 million from $12.7 million a year ago. Net income in the quarter rose 100% to $3.8 million or 33 cents per diluted share compared to net income of $1.9 million or 15 cents per share a year ago.

TeleCommunication Systems, Inc ((TSYS)) advanced 1.0% or 9 cents to $8.96 after the maker of satellite systems used for text- messaging said that it has entered into a definitive merger agreement to acquire Networks In Motion, Inc., a privately held provider of wireless navigation solutions for GPS-enabled mobile phones headquartered in Aliso Viejo, California, for an aggregate of $170 million.

UAL Corporation ((UAUA)) increased 8.3% or 69 cents to $8.95.

Walgreen Co ((WAG)) declined 3.6% or $1.42 to $37.95 after November same store sales increased 3.9% from a year ago.