Retailers Gain on Holiday Sales; Airlines Down

123jump.com Staff
28 Dec, 2009
New York City

U.S. stocks pared their early gains in the afternoon. Better than expected holiday sales lifted select retailers. Airlines trended lower after an attempted terrorist attack on December 25. Cal-Maine second quarter net declined 41% and sales fell 4%.

[R]1:00 PM New York – U.S. stocks pared their early gains in the afternoon. Better than expected holiday sales lifted select retailers. Airlines trended lower after an attempted terrorist attack on December 25. Cal-Maine second quarter net declined 41% and sales fell 4%.[/R]

Of the stocks in S&P 500 index, 339 increased, 143 declined and 18 were unchanged.

Altria Group, Inc led the decliners in the S&P 500 index with a loss of 1.7% followed by losses in CSX Corporation of 1.3% and in Aon Corporation of 1.1%, in Campbell Soup Company of 0.8% and in Fifth Third Bancorp of 0.7%.

American International Group, Inc led gainers in the S&P 500 index with a rise of 6.2% followed by gains in SanDisk Corporation 3.1%, in JDS Uniphase Corporation of 2.8% and in Micron Technology, Inc of 2.4%.

Retailers traded higher after MasterCard said retail sales in holiday period between November 1 and December 24 increased 3.6% from a year ago compared to a decline of 2.3% in the year ago period.

Macy’s, Inc increased 1.4% to $27.41, Sears Holdings Corp increased 1.2% to $84.90, Saks Inc added 2.2% to $6.93 and Nordstrom, Inc 1.5% to $37.93.

Other Movers

3PAR Inc ((PAR)) the data-storage provider surged 15.1% or $1.56 to $11.84.

AMR Corporation ((AMR)) the parent of American Airlines fell 2.3% or 18 cents to $7.95 on the renewed worries that recent terrorist attempt may affect international travel.

Amicas, Inc. ((AMCS)) soared 21% to $5.35 after the image and healthcare information management solution provider agreed to be acquired by a private equity group Thoma Bravo LLC for $217 million. Under the purchase agreement shareholders will receive $5.35 cash per share.

Cal-Maine Foods, Inc ((CALM)) added 10% or $3.0 to $33.82 an egg producer reported second quarter sales fell 4% to $229.2 million from $238.3 million a year ago. Net income in the quarter fell 41% to $16.1 million or 67 cents per diluted share compared to net income of $27.2 million or $1.14 per share a year ago.

Delta Air Lines, Inc ((DAL)) decreased 2.5% or 30 cents to $11.48 on the worries that a terrorist suspect was able to circumvent security measures on a Northwest Airlines flight from Amsterdam to Detroit on December 25.

Freddie Mac ((FRE)) surged 19.4% or 25 cents to $1.50 after the U.S. Treasury Department plans to remove cap on its financial assistance to two mortgage finance agencies. Investors have been worried that the two agencies may not have enough capital and many need additional government assistance.

L-3 Communications Holdings, Inc ((LLL)) the producer of scanners for airport use added 1.5% or $1.31 to $86.94.

L-1 Identity Solutions, Inc ((ID)) the maker of security software increased 3.9% or 26 cents to $6.82.

Korea Electric Power Corporation ((KEP)) advanced 6.2% or 87 cents to $14.84 after the company led consortium won an order of $20 billion t build nuclear power stations in United Arab Emirates.

Sunrise Senior Living, Inc ((SRZ)) the manager of retirement communities increased 2.2% or 7 cents to $3.13.

UAL Corporation ((UAUA)) the carrier United Airlines declined 0.6% or 6 cents to $13.03.

Vical Incorporated ((VICL)) surged 31% or 85 cents to $3.60 after an independent monitoring board recommended continuing the late stage clinical trial on its skin cancer treatment drug candidate Allovectin-7.