SanDisk, Avery Fall; Amazon, Microsoft Rise

Mayank Mehta
29 Jan, 2010
New York City

SanDisk dropped after it estimated lower than expected sales in the current year. Amazon.com Inc earnings surged 71% on 42% higher sales. Chevron Corp profit declined 37%. Microsoft quarterly net surged 60% to $6.6 billion.

[R]12:30 PM New York – SanDisk dropped after it estimated lower than expected sales in the current year. Amazon.com Inc earnings surged 71% on 42% higher sales. Chevron Corp profit declined 37%. Microsoft quarterly net surged 60% to $6.6 billion.[/R]

Of the stocks in S&P 500 index, 370 increased, 121 declined and 9 were unchanged.

Avery Dennison Corporation led the decliners in the S&P 500 index with a loss of 9.8% followed by losses in Airgas, Inc of 6.9% and in SanDisk Corporation of 5.5%, in Honeywell International Inc of 4.2% and in Leggett & Platt, Incorporated of 3.9%.

Eastman Chemical Company led gainers in the S&P 500 index with a rise of 4.5% followed by gains in Dover Corporation 3.72%, in Juniper Networks, Inc of 3.6% and in Teradyne, Inc 3.3%.

Other Movers

3PAR Inc ((PAR)) decreased 3.1% or 33 cents to $10.12 after the provider of utility storage said third quarter revenues rose 4% to $50.1 million from $48.2 million a year ago. Net loss in the quarter was $528,000 or 1 cent per diluted share compared to net income of $461,000 or 1 cent per share a year ago.

Airgas, Inc ((ARG)) declined 6.0% or $2.83 to $44.00 after the gas products distributor said third quarter sales fell 13% to $942.1 million from $1.08 billion a year ago. Net income in the quarter fell 25.4% to $46.9 million or 56 cents per diluted share compared to net income of $62.9 million or 76 cents per share a year ago.

Amazon.com, Inc ((AMZN)) rose 1.9% or $2.47 to $128.50 after the online retailer said fourth quarter sales rose 42% to $9.52 billion from $6.70 billion a year ago. Net income in the quarter rose 71% to $384 million or 85 cents per diluted share compared to net income of $225 million or 52 cents per share a year ago.

Avery Dennison Corporation ((AVY)) plunged 9.9% or $3.78 to $34.32 after the label and office supplies maker reported fourth quarter sales rose 0.7% to $1.52 billion from $1.51 billion a year ago. Net income in the quarter rose 17% to $49.9 million or 47 cents per diluted share compared to net income of $42.6 million or 43 cents per share a year ago.

Bottomline Technologies, Inc ((EPAY)) fell 0.07% or 1 cent to $16.54 after the provider of electronic payment, invoice and document management solutions said second quarter revenues rose 17.3% to $40.1 million from $34.2 million a year ago. Net income in the quarter was $704,000 or 3 cents per diluted share compared to net loss of $2.9 million or 12 cents per share a year ago.

City National Corporation ((CYN)) fell 0.3% or 19 cents to $50.01 after the finance company said fourth quarter net interest income rose 9.5% to $163.0 million from $148.8 million a year ago. Net income in the quarter rose 203% to $19.7 million or 38 cents per diluted share compared to net income of $6.5 million or 13 cents per share a year ago.

Compuware Corporation ((CPWR)) climbed 1.4% or 11 cents to $7.90 after the business software and services provider said third quarter revenues fell 14.4% to $229.9 million from $268.7 million a year ago. Net income in the quarter fell 30% to $24.4 million or 11 cents per diluted share compared to net income of $35.0 million or 14 cents per share a year ago.

Chevron Corporation ((CVX)) added 0.4% or 33 cents to $73.58 after the oil company reported fourth quarter revenues rose 10.4% to $47.6 billion from $43.1 billion a year ago. Net income in the quarter fell 37% to $3.07 billion or $1.53 per diluted share compared to net income of $4.90 billion or $2.44 per share a year ago.

Cymer, Inc ((CYMI)) dropped 1.5% or 50 cents to $32.74 after the supplier of light sources used by chipmakers said fourth quarter revenues fell 4% to $96.4 million from $100.4 million a year ago. Net income in the quarter rose 205% to $12.2 million or 40 cents per diluted share compared to net income of $4.0 million or 13 cents per share a year ago.

Dover Corporation ((DOV)) decreased 0.02% or 1 cent to $42.51 after the industrial company reported fourth quarter sales fell 11.7% to $1.5 billion from $1.7 billion a year ago. Net income in the quarter fell 18% to $99 million or 53 cents per diluted share compared to net income of $120.7 million or 65 cents per share a year ago.

Eastman Kodak Company ((EK)) surged 24.6% or $1.17 to $5.92 after the provider of imaging technology products and services said fourth quarter sales rose 6% to $2.58 billion from $2.43 billion a year ago. Net income in the quarter was $443 million or $1.40 per diluted share compared to net loss of $918 million or $3.42 per share a year ago.

Eli Lilly and Company ((LLY)) rose 0.6% or 24 cents to $35.99 after the drugmaker said fourth quarter revenues rose 14% to $5.93 billion from $5.20 billion a year ago. Net income in the quarter was $915.4 million or 83 cents per diluted share compared to net loss of $3.6 billion or $3.31 per share a year ago.

Fortune Brands, Inc ((FO)) fell 1.2% or 54 cents to $42.84 after the consumer brands company reported fourth quarter sales rose 0.6% to $1.80 billion from $1.79 billion a year ago. Net income in the quarter was $11.5 million or 8 cents per diluted share compared to net loss of $281.3 million or $1.88 per share a year ago.

Genworth Financial, Inc ((GNW)) slipped 0.2% or 3 cents to $13.60 after the financial security company said fourth quarter revenues fell 6.5% to $2.46 billion from $2.63 billion a year ago. Net income in the quarter was $40 million or 8 cents per diluted share compared to net loss of $321 million or 74 cents per share a year ago.

Honeywell International Inc ((HON)) fell 2.6% or $1.03 to $38.79 after the diversified manufacturer reported fourth quarter sales fell 7% to $8.07 billion from $8.71 billion a year ago. Net income in the quarter fell 1% to $698 million or 91 cents per diluted share compared to net income of $707 million or 97 cents per share a year ago.

IDEXX Laboratories, Inc ((IDXX)) rose 0.9% or 53 cents to $58.50 after the veterinary products maker reported fourth quarter revenues rose 11% to $270.3 million from $243.3 million a year ago. Net income in the quarter rose 31% to $30.9 million or 51 cents per diluted share compared to net income of $23.6 million or 39 cents per share a year ago.

ImmunoGen, Inc ((IMGN)) rose 1.4% or 10 cents to $7.20 after the biotechnology company said second quarter revenues fell 66.6% to $3.1 million from $9.3 million a year ago. Net loss in the quarter was $13.0 million or 23 cents per diluted share compared to net loss of $7.1 million or 14 cents per share a year ago.

JetBlue Airways Corporation ((JBLU)) added 1.7% or 9 cents to $5.20 after the passenger airline said fourth quarter revenues rose 2.6% to $832 million from $811 million a year ago. Net income in the quarter was $11 million or 4 cents per diluted share compared to net loss of $58 million or 25 cents per share a year ago.

L.B. Foster Company ((FSTR)) increased 3.0% or 79 cents to $26.96 after the manufacturer, fabricator and distributor of products and services for the rail reported fourth quarter sales fell 32% to $98.0 million from $143.8 million a year ago. Net income in the quarter fell 31.5% to $3.9 million or 38 cents per diluted share compared to net income of $5.7 million or 55 cents per share a year ago.

LaBranche & Co. ((LAB)) increased 6.7% to $4.46 after the company plans to acquire one third of the outstanding shares at $4.60 a share. The company plans to acquire 15 million shares.

Mattel, Inc ((MAT)) rose 1.6% or 33 cents to $20.37 after the toy company reported fourth quarter sales rose 1% to $1.96 billion from $1.94 billion a year ago. Net income in the quarter rose 86% to $328.4 million or 89 cents per diluted share compared to net income of $176.4 million or 49 cents per share a year ago.

Microsoft Corporation ((MSFT)) rose 1.4% or 43 cents to $29.59 after the software maker said second quarter sales rose 14.4% to $19.02 billion from $16.63 billion a year ago. Net income in the quarter rose 60% to $6.66 billion or 74 cents per diluted share compared to net income of $4.17 billion or 47 cents per share a year ago.

PMC-Sierra Inc ((PMCS)) surged 3.8% or 29 cents to $8.05 after it reported reported adjusted fourth quarter earnings of 17 cents a share.

Paccar Inc ((PCAR)) added 3.0% or $1.07 to $36.30 after the truck maker reported fourth quarter sales fell 23% to $2.24 billion from $2.92 billion a year ago. Net income in the quarter fell 59% to $46.1 million or 13 cents per diluted share compared to net income of $113.1 million or 31 cents per share a year ago.

The Procter & Gamble Company ((PG)) added 1.2% or 75 cents to $62.43 after the consumer products maker said second quarter sales rose 6% to $21.0 billion from $19.8 billion a year ago. Net income in the quarter fell 7% to $4.66 billion or $1.49 per diluted share compared to net income of $5.0 billion or $1.58 per share a year ago.

RBC Bearings Incorporated ((ROLL)) fell 0.6% or 18 cents to $22.30 after the ball bearings maker reported third quarter sales fell 21% to $67.5 million from $85.3 million a year ago. Net income in the quarter fell 32.5% to $5.2 million or 24 cents per diluted share compared to net income of $7.7 million or 35 cents per share a year ago.

SanDisk Corp ((SNDK)) decreased 10.4% to $25.81 after it reported revenues in the fourth quarter increased 44% to $1.24 billion and net income of $1.45 a share or $340 million compared to $1.76 billion or $7.76 billion. the company estimated lower than expected sales revenues in 2010.

Tessera Technologies, Inc ((TSRA)) dropped 2.6% or 50 cents to $18.43 after the chip technology developer said fourth quarter revenues fell 18% to $56.5 million from $69.1 million a year ago. Net income in the quarter fell 17% to $6.4 million or 13 cents per diluted share compared to net income of $7.7 million or 16 cents per share a year ago.

United Community Banks, Inc ((UCBI)) gained 5.6% or 25 cents to $4.70 after the finance company reported fourth quarter net interest income fell 17.7% to $77.9 million from $94.6 million a year ago. Net loss in the quarter was $15.7 million or 23 cents per diluted share compared to net loss of $69.4 million or $1.02 per share a year ago.

Wal-Mart Stores, Inc ((WMT)) added 2.6% or $1.37 to $53.98 after the retailer was upgraded to “buy” from “neutral” by Goldman Sachs.

ZOLL Medical Corporation ((ZOLL)) rose 0.07% or 2 cents to $27.41 after the manufacturer of medical devices and software solutions said first quarter sales rose 17.5% to $105.2 million from $89.5 million a year ago. Net income in the quarter fell 20.6% to $2.3 million or 11 cents per diluted share compared to net income of $2.9 million or 14 cents per share a year ago.