LaBranche, Domino's Pizza, A123 Systems Rise

123jump.com Staff
14 Jan, 2010
New York City

American Movil plans to issue stocks worth $18 billion to acquire the land line operator Telemex in Mexico. Briggs & Stratton said latest quarterly earnings declined 6%. Zale Corp forced its chief executive after weak holiday sales.

[R]10:30 AM New York – American Movil plans to issue stocks worth $18 billion to acquire the land line operator Telemex in Mexico. Briggs & Stratton said latest quarterly earnings declined 6%. Zale Corp forced its chief executive after weak holiday sales.[/R]

A123 Systems, Inc ((AONE)) increased 7.3% to $21.51 after it signed multi-year agreement to supply battery for the plug-in hybrid electric vehicle made by Fisker Automotive. The company will also invest $23 million in Fisker and of which $13 is in cash.

Alcon Inc ((ACL)) increased 1.3% to $155.28 on the speculation that the proposed two tier bid by Novartis will be increased and rationalized to offer the same price to minority shareholders.

American Movil SAB ((AMX)) declined 5.5% to $47.25 after the parent holding company of the largest mobile telecom carrier in Mexico and Latin America plans to sell stocks worth 22 billion pesos or $17.7 billion for land line carrier Telemex Internacional SAB to consolidate network management costs.

Briggs & Stratton Corp ((BGG)) decreased 6.5% to $18.30 after it reported second quarter sales fell 17.7% to $393.0 million from $477.5 million a year ago. Net income in the quarter fell 6% to $3.0 million or 6 cents per diluted share compared to net income of $3.2 million or 6 cents per share a year ago.

Clarcor Inc ((CLC)) increased 1.4% to $34.43, the maker of air filtration systems said fourth quarter sales fell 12% to $234.4 million from $266 million a year ago. Net income in the quarter fell 15% to $24.7 million or 49 cents per diluted share compared to net income of $29.1 million or 56 cents per share a year ago.

Daimler AG ((DAI)) increased 2% to $53.61 after the company added short term staff to meet the sudden increase in luxury vehicles in China.

Domino’s Pizza, Inc ((DPZ)) surged 9.4% to $11.25 after CNBC commentator and show host Jim Cramer recommended the stock and said international sales are growing and new ad campaign is helping sales.

FPL Group Inc ((FPL)) decreased 2.2% to $50.38 after Florida regulators denied company’s request for rate increase of $1.3 billion a year and the company suspended its plan to spend $10 billion in capital projects.

LaBranche & Co ((LAB)) soared 45% to $4.05 after it agreed to sell its NYSE market making operation to Barclays Capital for $25 million.

MetroPCS Communications Inc ((PCS)) increased 1.1% to $6.40 after Macquarie Research downgraded stock to “neutral” from “outperform.” The pay-as-you-go wireless carrier has been adding subscribers on the Eastern states as it offers 50% lower prices that Verizon and AT&T.

Monsanto Co ((MON)) declined 0.9% to $83.19 after the company said the U.S. Justice Department has sought more information on its soybean traits business.

Panasonic Corp ((PC)) increased 6.4% to $17.11 after industry researcher BCN Inc noted in a report that flat panel television sales in Japan may rise at least 50% in the year as prices decline and customers take advantage of better technology.

Sealy Corporation ((ZZ)) declined 9.4% to $3.47, a mattress maker said fourth quarter sales rose 2% to $332.1 million from $325.8 million a year ago. Net income in the quarter was $2.6 million or 2 cents per diluted share compared to net loss of $41.4 million or 45 cents per share a year ago.

Shaw Communications Inc. ((SJR)) decreased 0.4% to $20.10 and the communications company reported first quarter sales rose 11% to $906 million from $817.5 million a year ago. Net income in the quarter fell 7.5% to $114.2 million or 26 cents per diluted share compared to net income of $123.5 million or 29 cents per share a year ago.

Target Corp ((TGT)) increased 1.2% to $49.91 after the discount retailer said that it will resume buying back its stock under $10 billion of share repurchase program that was suspended in November 2008.

Walgreen Co. ((WAG)) was unchanged to $37.08 and it agreed to acquire 25 pharmacy retail stores from Snyder’s Drug Stores in Minnesota.

Zale Corp ((ZLC)) declined 4.9% to $3.07 after the company forced out its chief executive and two other senior executives yesterday after rival Signet Jewelers Ltd reported better holiday sales.