Big Lots, Monster Rise; Take-Two Plunges

Mayank Mehta
04 Dec, 2009
New York City

Employment services provider surged after the release of better than expected unemployment data in November. Big Lots surged after it reported better than expected earnings. Bank of America increased after it completed $19.3 billion rights offering.

[R]1:00 PM New York – Employment services provider surged after the release of better than expected unemployment data in November. Big Lots surged after it reported better than expected earnings.[/R]

Employment services providers rallied after unemployment data showed no change and in November and unemployment rate declined.

Monster Worldwide, Inc ((MWW)) increased 12.3% to $16.88, Manpower Inc ((MAN)) surged 10.7% to $$56.96, Robert Half International Inc ((RHI)) increased 9.4% to $25.36. Kelly Services and Spherion Corp gained more than 10%.

Of the stocks in S&P 500 index, 496 increased, 3 declined and 1 was unchanged.

E. I. du Pont de Nemours and Company led the decliners in the S&P 500 index with a loss of 3.3% followed by losses in Newmont Mining Corporation of 3.0% and in YUM! Brands, Inc of 2.1%, in Burlington Northern Santa Fe Corporation of 0.1% and in Novell, Inc of 0.2%.

Big Lots, Inc led gainers in the S&P 500 index with a rise of 17.7% followed by gains in Robert Half International Inc 7.9%, in Monster Worldwide, Inc of 7.9% and in The Goodyear Tire & Rubber Company of 6.0%.

Other Movers

Bank of America Corporation ((BAC)) added 1.8% or 29 cents to $16.05 after the lender priced its offering of 1.286 billion common equivalent securities. The offering, priced at $15.00 per common equivalent security, is expected to generate gross proceeds of approximately $19.3 billion.

Big Lots, Inc ((BIG)) surged 13.0% or $3.06 to $26.58 after the closeout retailer reported third quarter sales rose 2% to $1.04 billion from $1.02 billion a year ago. Net income in the quarter rose 148.3% to $30.3 million or 37 cents per diluted share compared to net income of $12.2 million or 15 cents per share a year ago.

Diamond Foods, Inc ((DMND)) decreased 2.9% or 94 cents to $30.79 after the food company said first quarter sales fell 7.6% to $180.6 million from $195.5 million a year ago. Net income in the quarter rose 39.3% to $14.9 million or 88 cents per diluted share compared to net income of $10.7 million or 64 cents per share a year ago.

Magma Design Automation, Inc ((LAVA)) increased 7.2% or 17 cents to $2.50 after the chip design software maker said second quarter revenues fell 18.6% to $29.7 million from $36.5 million a year ago. Net income in the quarter was $4.3 million or 8 cents per diluted share compared to net loss of $26.3 million or 60 cents per share a year ago.

Marvell Technology Group Ltd ((MRVL)) rose 6.4% or $1.07 to $17.60 after the chip maker said third quarter revenues rose 1.5% to $803.1 million from $791.0 million a year ago. Net income in the quarter rose 184.3% to $201.6 million or 31 cents per diluted share compared to net income of $70.9 million or 11 cents per share a year ago.

Novell, Inc ((NOVL)) declined 3.4% or 14 cents to $3.90 after the seller of computer-networking software said fourth quarter revenues fell 12% to $215.6 million from $244.7 million a year ago. Net loss in the quarter was $255.7 million or 74 cents per diluted share compared to net loss of $16.3 million or 5 cents per share a year ago.

Regency Centers Corporation ((REG)) the real estate investment trust slipped 0.4% or 14 cents to $32.84.

Royal Bank of Canada ((RY)) added 1.3% or 73 cents to $55.39 after the bank reported fourth quarter revenues rose 47% to $7.46 billion from $5.07 billion a year ago. Net income in the quarter rose 10.7% to $1.24 billion or 82 cents per diluted share compared to net income of $1.12 billion or 81 cents per share a year ago.

Sirona Dental Systems, Inc ((SIRO)) dropped 3.2% or $1.02 to $30.14 after the dental equipment maker reported fourth quarter revenues rose 4.2% to $188.2 million from $180.6 million a year ago. Net income in the quarter was $26.7 million or 48 cents per diluted share compared to net loss of $5.2 million or 9 cents per share a year ago.

Smith & Wesson Holding Corporation ((SWHC)) plunged 16.8% or 89 cents to $4.38 after the gun maker expect total company sales for the third quarter to be between $90 million and $95 million, an increase of between 8% and 14% over the prior year.

Sun Microsystems, Inc ((JAVA)) added 3.0% or 25 cents to $8.48.

Take-Two Interactive Software, Inc ((TTWO)) plunged 32.8% or $3.59 to $7.33 after the maker of video games expects to report a non-GAAP net loss per share for fiscal 2010 in the range of 40 cents to 60 cents on $1.0 billion to $1.2 billion in revenue.

Western Gas Partners, LP ((WES)) dropped 4.2% or 80 cents to $18.18 after the natural-gas pipeline owner and processor today announced that it has priced its public offering of 6 million common units representing limited partner interests. The company has granted the underwriters a 30-day option to purchase up to 900,000 additional common units.