Ciena, Family Dollar, Toll Brothers Fall

Mayank Mehta
03 Dec, 2009
New York City

Family Dollar Stores, Inc led the decliners in the S&P 500 index with a loss of 6.4%. Aeropostale, Inc fell after third quarter earnings release. Synopsys, Inc fourth quarter net income declined 58%. Del Monte Foods raises earnings guidance to be in-line with estimates.

[R]12:30 PM New York – Family Dollar Stores, Inc led the decliners in the S&P 500 index with a loss of 6.4%. Aeropostale, Inc fell after third quarter earnings release. Synopsys, Inc fourth quarter net income declined 58%. Del Monte Foods raises earnings guidance to be in-line with estimates.[/R]

Of the stocks in S&P 500 index, 390 increased, 98 declined and 12 were unchanged.

Family Dollar Stores, Inc led the decliners in the S&P 500 index with a loss of 6.4% followed by losses in Ciena Corporation of 4.6% and in The TJX Companies, Inc of 4.2%, in Abercrombie & Fitch Co of 3.7% and in Macy''s, Inc of 2.9%.

Tenet Healthcare Corporation led gainers in the S&P 500 index with a rise of 6.7% followed by gains in Bank of America Corporation 6.3%, in Comcast Corporation of 5.3% and in MBIA Inc of 5.2%.

Other Movers

Aeropostale, Inc ((ARO)) decreased 7.4% or $2.44 to $30.26 after the apparel retailer said third quarter sales rose 18% to $567.8 million from $482.0 million a year ago. Net income in the quarter rose 47% to $62.6 million or 92 cents per diluted share compared to net income of $42.6 million or 63 cents per share a year ago.

A-Power Energy Generation Systems, Ltd ((APWR)) decreased 7.8% or $1.20 to $14.19 an energy company reported third quarter revenues rose 13% to $96.6 million from $85.4 million a year ago. Net loss in the quarter was $623,000 or 2 cents per diluted share compared to net income of $9.4 million or 28 cents per share a year ago.

Argon ST, Inc ((STST)) fell 1.9% or 35 cents to $17.99 after the systems engineering, development and services company reported fourth quarter revenues rose 0.4% to $95.5 million from $95.1 million a year ago. Net income in the quarter rose 15% to $6.1 million or 28 cents per diluted share compared to net income of $5.3 million or 24 cents per share a year ago.

Abercrombie & Fitch Co ((ANF)) decreased 4.0% or $1.62 to $38.28 after the teen-apparel retailer reported November net sales decreased 8% to $245.7 million from $267.3 million a year ago.

Assured Guaranty Ltd ((AGO)) rose 0.6% or 15 cents to $22.10 after the municipal-bond insurer was upgraded to “buy” from “neutral” at UBS AG.

Bank of America Corporation ((BAC)) rose 3.0% or 46 cents to $16.11 after the lender said it plans to repay the entire $45 billion investment provided under the Troubled Asset Relief Program from the U.S. government.

Casella Waste Systems, Inc ((CWST)) declined 0.4% or 2 cents to $4.06 after the regional solid waste, recycling and resource management services company said second quarter revenues fell 15% to $133.7 million from $157.5 million a year ago. Net loss in the quarter was $1.6 million or 6 cents per diluted share compared to net income of $2.1 million or 8 cents per share a year ago.

Collective Brands, Inc ((PSS)) increased 7.8% or $1.58 to $21.75 after the shoe retailer said third quarter sales rose 0.5% to $867.0 million from $862.7 million a year ago. Net income in the quarter fell 22.3% to $36.9 million or 57 cents per diluted share compared to net income of $47.5 million or 74 cents per share a year ago.

Comcast Corporation ((CMCSA)) rose 6.6% or 99 cents to $15.91 after the cable-television company and General Electric announced today that they have signed a definitive agreement to form a joint venture that will be 51% owned by Comcast, 49% owned by GE and managed by the company that will own NBC Universal.

Cubist Pharmaceuticals, Inc ((CBST)) gained 4.5% or 78 cents to $18.07 after the drugmaker today announced the early closing of enrollment in its ecallantide Phase 2 program. Ecallantide is in the development stage as therapy to reduce bleeding in on-pump cardiac surgery.

Del Monte Foods Company ((DLM)) added 3.8% or 42 cents to $11.38 after the distributor of branded food and pet products reported second quarter sales rose 6.4% to $958.9 million from $901.0 million a year ago. Net income in the quarter rose 24.2% to $62.6 million or 31 cents per diluted share compared to net income of $50.4 million or 25 cents per share a year ago.

Jo-Ann Stores, Inc ((JAS)) dropped 2.7% or 90 cents to $32.00 after the specialty retailer of fabrics and crafts said third quarter sales rose 6% to $509.1 million from $480.1 million a year ago. Net income in the quarter rose 136% to $24.1 million or 90 cents per diluted share compared to net income of $10.2 million or 40 cents per share a year ago.

SeaChange International, Inc ((SEAC)) surged 13.8% or 81 cents to $6.64 after the provider digital video systems and services said third quarter revenues rose 3% to $53.3 million from $51.8 million a year ago. Net income in the quarter fell 80% to $657,000 or 2 cents per diluted share compared to net income of $3.4 million or 11 cents per share a year ago.

Sigma Designs, Inc ((SIGM)) plunged 11.2% or $1.30 to $10.21 after the maker of processors for Internet television set-top boxes said third quarter revenues decreased 31% to $35.5 million from $51.3 million a year ago.

Synopsys, Inc ((SNPS)) fell 7.7% or $1.75 to $20.77 after the maker of chip testing and development software said fourth quarter revenues fell 4% to $338.3 million from $352.8 million a year ago. Net income in the quarter fell 58% to $19.5 million or 13 cents per diluted share compared to net income of $46.4 million or 32 cents per share a year ago.

Toll Brothers, Inc ((TOL)) dropped 3.5% or 69 cents to $18.90 after the luxury homebuilder reported fourth quarter revenues fell 29.6% to $486.6 million from $691.1 million a year ago. Net loss in the quarter was $111.4 million or 68 cents per diluted share compared to net loss of $78.8 million or 49 cents per share a year ago.

UTi Worldwide Inc ((UTIW)) surged 15.5% or $2.06 to $15.31 after the services and solutions company reported third quarter revenues fell 20% to $967.2 million from $1.21 billion a year ago. Net income in the quarter fell 52.2% to $18 million or 18 cents per diluted share compared to net income of $37.9 million or 38 cents per share a year ago.