Airgas Surges 40%; UPS Raises Dividend

Mayank Mehta
05 Feb, 2010
New York City

Airgas Inc surged 40% after Air Products said it may take its $60 a share offer direct to shareholders. Aetna profit declined 15% as underwriting margin falls. Tyson Foods posts higher than expected fourth quarter profit. Weyerhaeuser quarterly loss narrows. UPS board raises dividend.

[R]12:10 PM New York – Airgas Inc surged 40% after Air Products said it may take its $60 a share offer direct to shareholders. Aetna profit declined 15% as underwriting margin falls. Tyson Foods posts higher than expected fourth quarter profit. Weyerhaeuser quarterly loss narrows. UPS board raises dividend.[/R]

Of the stocks in S&P 500 index, 214 increased, 277 declined and 9 were unchanged.

Air Products and Chemicals, Inc. led the decliners in the S&P 500 index with a loss of 8.4% followed by losses in The Dun & Bradstreet Corporation of 6.5% and in Corning Incorporated of 6.3%, in Weyerhaeuser Company of 4.3% and in Nordstrom, Inc of 2.9%.

Airgas, Inc led gainers in the S&P 500 index with a surge of 42% followed by gains in Tyson Foods, Inc 7.7%, in Perkinelmer, Inc of 5.6% and in FMC Corporation 5.2%.

Other Movers

Accuray Incorporated ((ARAY)) added 0.8% or 5 cents to $5.80 after the developer of an intelligent robotic surgery system said second quarter revenues fell 0.5% to $57.3 million from $57.6 million a year ago. Net loss in the quarter was $1.2 million or 2 cents per diluted share compared to net income of $1.4 million or 2 cents per share a year ago.

Aceto Corporation ((ACET)) dropped 0.7% or 4 cents to $5.13 after the provider of quality assurance, regulatory support and distribution of chemically derived pharmaceuticals, biopharmaceuticals reported second quarter sales fell 4.4% to $70.9 million from $74.2 million a year ago. Net loss in the quarter was $2.5 million or 10 cents per diluted share compared to net income of $1.1 million or 4 cents per share a year ago.

Advanced Semiconductor Engineering, Inc ((ASX)) fell 2.7% or 11 cents to $3.93 after the chip packaging and testing company reported fourth quarter revenues rose 43.7% to NT$26.3 billion from NT$18.3 billion a year ago. Net income in the quarter was NT$3.45 billion or NT$0.66 per diluted share compared to net loss of NT$800 million or NT$0.15 per share a year ago.

Aetna Inc. ((AET)) fell 3.6% or $1.10 to $29.23 after the insurer reported fourth quarter sales rose 13% to $8.76 billion from $7.76 billion a year ago. Net income in the quarter fell 15% to $165.9 million or 38 cents per diluted share compared to net income of $194.7 million or 42 cents per share a year ago.

Allegheny Energy, Inc ((AYE)) fell 2.3% or 49 cents to $20.00 an electricity and natural gas provider reported fourth quarter revenues rose 21.6% to $861.1 million from $707.8 million a year ago. Net income in the quarter rose 575% to $109.3 million or 64 cents per diluted share compared to net income of $16.2 million or 10 cents per share a year ago.

Airgas, Inc ((ARG)) the distributor of industrial gases surged 40% or $17.37 to $60.89 after Air Products said that it may extend its offer of $60 a share directly to shareholders and prepare for a hostile takeover.

Badger Meter, Inc ((BMI)) decreased 4.4% or $1.62 to $35.00 after the automatic utility meter-reading manufacturer said fourth quarter sales fell 16.5% to $56.4 million from $67.6 million a year ago. Net income in the quarter fell 17.7% to $5.1 million or 34 cents per diluted share compared to net income of $6.2 million or 42 cents per share a year ago.

Brooks Automation, Inc ((BRKS)) plunged 11.2% or 97 cents to $7.55 after the diversified manufacturer reported first quarter revenues rose 44.7% to $106.2 million from $73.4 million a year ago. Net loss in the quarter was $2.8 million or 4 cents per diluted share compared to net loss of $35.1 million or 56 cents per share a year ago.

Bebe stores, inc ((BEBE)) added 2.0% or 13 cents to $6.41 an apparel retailer said second quarter sales fell 22% to $141.5 million from $181.9 million a year ago. Net income in the quarter fell 64.7% to $2.4 million or 3 cents per diluted share compared to net income of $6.8 million or 8 cents per share a year ago.

Con-way Inc ((CNW)) fell 1.8% or 52 cents to $27.81 after the trucking operator said fourth quarter revenues fell 0.9% to $1.12 billion from $1.13 billion a year ago. Net loss in the quarter was $1.9 million or 4 cents per diluted share compared to net loss of $43.0 million or 94 cents per share a year ago.

EnerSys ((ENS)) advanced 1.7% or 37 cents to $21.19 after the maker of industrial batteries said third quarter sales fell 8.6% to $421.3 million from $460.9 million a year ago. Net income in the quarter fell 22% to $23.2 million or 47 cents per diluted share compared to net income of $29.8 million or 61 cents per share a year ago.

Fidelity National Information Services, Inc ((FIS)) dropped 1.8% or 45 cents to $23.54 after the banking and payment technology developer said fourth quarter revenues rose 51.5% to $1.3 billion from $858.0 million a year ago. Net loss in the quarter was $53.9 million or 14 cents per diluted share compared to net income of $28.8 million or 15 cents per share a year ago.

FMC Corporation ((FMC)) climbed 1.1% or 60 cents to $51.40 after the chemical company said fourth quarter revenues fell 2% to $722.1 million from $737.7 million a year ago. Net income in the quarter rose 34% to $62.1 million or 85 cents per diluted share compared to net income of $46.3 million or 63 cents per share a year ago.

Illumina, Inc ((ILMN)) fell 3.4% or $1.27 to $35.35 after the maker of tools for genetic analysis said fourth quarter revenues rose 12% to $180.6 million from $160.9 million a year ago. Net income in the quarter fell 55% to $11.7 million or 9 cents per diluted share compared to net income of $26.1 million or 20 cents per share a year ago.

Knoll, Inc ((KNL)) rose 2.9% or 34 cents to $11.99 an office furniture maker said fourth quarter sales fell 33.4% to $183.9 million from $276.3 million a year ago. Net income in the quarter fell 82.4% to $4.0 million or 9 cents per diluted share compared to net income of $22.7 million or 50 cents per share a year ago.

Leap Wireless International, Inc ((LEAP)) dropped 6.6% or 97 cents to $13.62 after the phone company was downgraded to “underweight” from “neutral” by JPMorgan Chase & Co.

MasterCard Incorporated ((MA)) fell 0.6% or $1.52 to $223.63 after the payments network was upgraded to “outperform” from “market perform” at Wells Fargo Securities.

Mednax, Inc ((MD)) dropped 3.5% or $2.01 to $55.00 after the provider of hospital-based services reported fourth quarter revenues rose 12% to $333.3 million from $297.8 million a year ago. Net income in the quarter rose 29.2% to $50.4 million or $1.07 per diluted share compared to net income of $39.0 million or 85 cents per share a year ago.

NetSuite Inc ((N)) fell 6.2% or 96 cents to $14.51 after the maker of web-based business software said fourth quarter revenues rose 4% to $43.0 million from $41.4 million a year ago. Net loss in the quarter was $6.5 million or 10 cents per diluted share compared to net loss of $4.5 million or 7 cents per share a year ago.

NIC Inc ((EGOV)) dropped 2.4% or 20 cents to $8.04 after the provider of eGovernment services said fourth quarter revenues rose 44% to $36.4 million from $25.3 million a year ago. Net income in the quarter fell 15% to $2.3 million or 4 cents per diluted share compared to net income of $2.7 million or 4 cents per share a year ago.

Nordstrom, Inc ((JWN)) fell 3.6% or $1.29 to $33.83 after the retailer was downgraded to “neutral” from “buy” at Goldman Sachs.

Phase Forward Incorporated ((PFWD)) plunged 27.0% or $4.02 to $10.83 after the maker of products to manage health-care data was downgraded to “hold” from “buy” at Needham & Co.

Sara Lee Corporation ((SLE)) rose 1.4% or 18 cents to $12.50 after the food maker said second quarter sales were flat at $2.86 billion. Net income in the quarter was $371 million or 53 cents per diluted share compared to net loss of $17 million or 2 cents per share a year ago.

Sonic Solutions ((SNIC)) fell 1.2% or 10 cents to $7.80 after the developer of digital-media software said third quarter revenues fell 0.4% to $26.4 million from $26.5 million a year ago. Net loss in the quarter was $344,000 or 1 cent per diluted share compared to net loss of $111.1 million or $4.27 per share a year ago.

TeleCommunication Systems, Inc ((TSYS)) gained 5.3% or 47 cents to $9.23 after the developer of wireless data communications technology said fourth quarter revenues rose 14.5% to $90.8 million from $79.3 million a year ago. Net income in the quarter fell 70% to $11.4 million or 20 cents per diluted share compared to net income of $38.2 million or 78 cents per share a year ago.

Tyson Foods, Inc ((TSN)) increased 5.0% or 71 cents to $14.70 after the meat producer reported first quarter sales rose 2% to $6.64 billion from $6.52 billion a year ago. Net income in the quarter was $160 million or 42 cents per diluted share compared to net loss of $102 million or 27 cents per share a year ago.

United Parcel Service, Inc ((UPS)) fell 0.5% or 29 cents to $56.99 after the package-delivery company increased the regular quarterly dividend to $0.47 per share from $0.45 on all outstanding Class A and Class B shares. The dividend is payable March 3 to shareholders of record on Feb 16.

Weyerhaeuser Company ((WY)) fell 0.9% or 39 cents to $40.00 after the forest products company reported fourth quarter sales fell 18% to $1.46 billion from $1.78 billion a year ago. Net loss in the quarter was $175 million or 83 cents per diluted share compared to net loss of $1.21 billion or $5.73 per share a year ago.

Zygo Corporation ((ZIGO)) fell 0.5% or 6 cents to $10.50 after the manufacturer of ultra-high precision measurement solutions said second quarter revenues fell 22% to $26.1 million from $33.4 million a year ago. Net loss in the quarter was $1.9 million or 11 cents per diluted share compared to net loss of $4.0 million or 24 cents per share a year ago.