Retailers JC Penney, Saks Rise, IMS Falls

Mayank Mehta
11 Dec, 2009
New York City

Resource stocks gained after commodities prices increased on the hopes that Chinese industrial growth will sustain the world demand. Christopher & Banks surged after less than expected quarterly sales decline. Retailers gained after government reported higher sales in November. NCR Corp increased on a broker upgrade.

[R]11:45 AM New York – Resource stocks gained after commodities prices increased on the hopes that Chinese industrial growth will sustain the world demand. Christopher & Banks surged after less than expected quarterly sales decline. NCR Corp increased on a broker upgrade. Retailers gained after government reported higher sales in November.[/R]

Of the stocks in S&P 500 index, 407 increased, 87 declined and 6 were unchanged.

IMS Health Incorporated led the decliners in the S&P 500 index with a loss of % followed by losses in Boston Scientific Corporation of 1.2% and in The Bank of New York Mellon Corporation of 1.0%, in Illinois Tool Works Inc of 0.9% and in The AES Corporation of 0.9%.

Alcoa Inc led gainers in the S&P 500 index with a rise of 3.8% followed by gains in GameStop Corp 3.5%, in El Paso Corporation of 2.2% and in Corning Incorporated of 2.1%.

Retailers advanced after November sales increased more than expected. JC Penney, Macy’s, Kohl’s, Wal-Mart Stores and Dillard’s and Sears Holdings gained between 1% and 4%.

Other Movers

Alcoa Inc ((AA)) increased 6.1% or 83 cents to $14.34 after commodities gained on the news that Chinese industrial production surged and imports in the month were higher than expected.

Autoliv, Inc ((ALV)) added 4.9% or $1.97 to $42.43 after the maker of automotive air bags expects fourth quarter organic sales to grow by at least 20% over the same quarter 2008 and its operating margin, excluding restructuring charges, to improve to at least 9%. Consolidated net sales are expected to increase at least 35% based on the current exchange rate.

BHP Billiton plc ((BHP)) the diversified natural resources company rose 1.3% or 96 cents to $74.04.

Christopher & Banks Corporation ((CBK)) surged 27.5% or $1.65 to $7.65 after the women’s clothing retailer said same-store sales for the quarter declined 8.4% as compared to the expectation of a fall in the low to mid-teens. The company expects to report revenues of approximately $132 million.

Deer Consumer Products Inc ((DEER)) plunged 19.5% to $12.75 after it placed 6 million shares at $11 million.

Esterline Technologies Corporation ((ESL)) advanced 2.4% or $1.00 to $41.98 after the manufacturer of jet-engine parts said that the sales pattern in 2010 is likely to match the sales in 2009 with weak first quarter sales mix and improvements in the following quarters.

Freeport-McMoran Copper & Gold Inc ((FCX)) rose 1.0% or 79 cents to $78.49.

Hecla Mining Company ((HL)) fell 0.1% or 1 cent to $6.62.

IMS Health, Inc ((RX)) dropped 7.2% to $19.84 after the Associated Press reported lawmakers are looking to ban the sale of prescription data. IMS sells the prescription data to analysts and drugmakers.

Learning Tree International, Inc ((LTRE)) decreased 2.4% or 30 cents to $12.15 after provider of professional development courses for IT workers said fourth quarter revenues fell 28% to $31.8 million from $44.2 million a year ago. Net loss in the quarter was $1.4 million or 10 cents per diluted share compared to net income of $2.8 million or 17 cents per share a year ago.

Lockheed Martin Corporation ((LMT)) gained 1.3% or $1.02 to $77.01.

MGIC Investment Corporation ((MTG)) the mortgage insurer climbed 1.7% or 8 cents to $4.68.

NCR Corporation ((NCR)) surged 10% or 96 cents to $10.75 after the maker of automated-teller machines was upgraded to “overweight” from “neutral” at JPMorgan.

Sirona Dental Systems, Inc ((SIRO)) the maker of dental-imaging equipment declined 6.7% or $2.41 to $32.52.