Amazon, Sohu Decline; Urban Outfitters Rises

Mayank Mehta
01 Feb, 2010
New York City

Gannett Co., Inc led the decliners in the S&P 500 index with a loss of 10% on a revenues decline of 14%. Amazon.com declined after it reversed its stance and allowed Macmillan to charge higher prices for digital books. Sysco second quarter beats earnings estimates. Ford Motor Company trades higher.

[R]11:20 AM New York – Gannett Co., Inc led the decliners in the S&P 500 index with a loss of 10% on a revenues decline of 14%. Amazon.com declined after it reversed its stance and allowed Macmillan to charge higher prices for digital books. Sysco second quarter beats earnings estimates. Ford Motor Company trades higher.[/R]

Of the stocks in S&P 500 index, 364 increased, 126 declined and 10 were unchanged.

Gannett Co., Inc led the decliners in the S&P 500 index with a loss of 8.5% followed by losses in The New York Times Company of 4.3% and in Humana Inc of 3.8%, in Tenet Healthcare Corporation of 3.4% and in Boston Scientific Corporation of 2.6%.

Akamai Technologies, Inc led gainers in the S&P 500 index with a rise of 4.1% followed by gains in E*Trade Financial Corporation 3.9%, in Flowserve Corporation of 3.6% and in Airgas, Inc 3.6%.

Other Movers

Acme United Corporation ((ACU)) closed unchanged at $8.90 after the beauty care products maker reported first quarter sales rose 3% to $363.0 million from $352.8 million a year ago. Net income in the quarter rose 15.4% to $36.6 million or 37 cents per diluted share compared to net income of $31.7 million or 32 cents per share a year ago.

Affiliated Managers Group, Inc ((AMG)) rose 0.2% or 12 cents to $60.69 an asset management company reported fourth quarter revenues rose 9.5% to $244.7 million from $223.4 million a year ago. Net income in the quarter was $24.6 million or 55 cents per diluted share compared to net loss of $83.7 million or $2.12 per share a year ago.

Amazon.com, Inc ((AMZN)) slipped 4.4% or $5.55 to $119.89 after the Internet book retailer reversed its stance and increased electronic book prices for its Kindle E-book reader. The company agreed to sell Macmillan books to digital book buyers at a price higher than the current price of $9.99 and share the revenues with publishers.

Changyou.com Limited ((CYOU)) decreased 1.7% or 59 cents to $33.00 after the online games developer reported fourth quarter revenues rose 21% to $70.7 million from $58.4 million a year ago. Net income in the quarter rose 33.7% to $38.9 million or 73 cents per ADS compared to net income of $29.1 million or 61 cents per ADS a year ago.

Exxon Mobil Corporation ((XOM)) rose 2.2% or $1.45 to $65.88 after the oil company fourth quarter earnings per share decreased 18% to $1.27, lower than expected.

Ford Motor Company ((F)) increased 1.9% or 21 cents to $11.04 on the hopes that the company will gain market share in January as Toyota struggles to fix the sudden acceleration problem. Toyota has halted sales of eight popular vehicles in the U.S., Canada and recalled models in Europe.

Gannett Co., Inc ((GCI)) dropped 10% or $1.64 to $14.52 after the newspaper publisher reported fourth quarter revenues fell 14.4% to $1.49 billion from $1.74 billion a year ago. Net income in the quarter was $133.6 million or 56 cents per diluted share compared to net loss of $4.7 billion or $20.65 per share a year ago.

Hewitt Associates, Inc ((HEW)) dropped 2.4% or 98 cents to $38.50 after the human-resource services company reported first quarter revenues rose 0.2% to $795.5 million from $794.0 million a year ago. Net income in the quarter rose 5.6% to $68.4 million or 71 cents per diluted share compared to net income of $64.8 million or 68 cents per share a year ago.

Humana Inc ((HUM)) fell 1.2% or 62 cents to $48.00 after the health insurer reported fourth quarter revenues rose 2% to $7.63 billion from $7.49 billion a year ago. Net income in the quarter rose 44% to $250.7 million or $1.48 per diluted share compared to net income of $174.1 million or $1.03 per share a year ago.

Integral Systems, Inc ((ISYS)) closed unchanged at $7.42 after the provider of solutions for satellite command and control reported first quarter sales fell 2% to $37.70 million from $38.50 million a year ago. Net income in the quarter rose 20% to $1.2 million or 7 cents per diluted share compared to net income of $1.0 million or 6 cents per share a year ago.

MDU Resources Group, Inc ((MDU)) fell 7.1% or $1.57 to $20.45 after the natural resource company reported fourth quarter revenues fell 21.5% to $1.02 billion from $1.30 billion a year ago. Net income in the quarter was $72.5 million or 38 cents per diluted share compared to net loss of $11.4 million or 6 cents per share a year ago.

Macy''s, Inc ((M)) fell 3.1% or 50 cents to $15.43 after the department store chain was downgraded to “hold” from “buy” at Deutsche Bank.

Oceaneering International, Inc ((OII)) the provider of engineered services and products to the offshore oil and gas industry rose 2.0% or $1.14 to $55.84.

Sohu.com Inc ((SOHU)) declined 6.6% or $3.40 to $46.95 an Internet company reported fourth quarter revenues rose 11.7% to $135.8 million from $121.6 million a year ago. Net income in the quarter fell 43% to $32.3 million or 76 cents per diluted share compared to net income of $56.6 million or $1.45 per share a year ago.

Sysco Corporation ((SYY)) dropped 0.2% or 6 cents to $27.93 after the distributor of food and related products reported second quarter sales fell 3% to $8.87 billion from $9.15 billion a year ago. Net income in the quarter rose 13% to $268.3 million or 45 cents per diluted share compared to net income of $237.7 million or 40 cents per share a year ago.

Time Warner Inc ((TWX)) rose 2.0% or 57 cents to $28.02 after media conglomerate was upgraded to “buy” from “hold” at Benchmark Co.

Urban Outfitters, Inc ((URBN)) the teenage apparel retailer rose 2.5% or 81 cents to $32.41 after Standard & Poor’s picked the company to replace Affiliated Computer Services Inc in the S&P 500 index.