Masco, AutoNation Fall; JA Solar, Pepsi Rise

Mayank Mehta
11 Feb, 2010
New York City

Masco Corporation led the decliners in the S&P 500 index with a loss of 10.3%. Prudential reports quarterly net of $1.78 billion. Allstate rises on improved fourth quarter net of $518 million. AutoNation, Inc posts higher revenue. JA Solar reported higher than expected sales and earnings.

[R]12:15 AM New York – Masco Corporation led the decliners in the S&P 500 index with a loss of 10.3%. Prudential reports quarterly net of $1.78 billion. Allstate rises on improved fourth quarter net of $518 million. AutoNation, Inc posts higher revenue. JA Solar reported higher than expected sales and earnings.[/R]

Of the stocks in S&P 500 index, 96 increased, 394 declined and 10 were unchanged.

Masco Corporation led the decliners in the S&P 500 index with a loss of 10.3% followed by losses in Boston Scientific Corporation of 8.5% and in FLIR Systems, Inc of 7.2%, in ProLogis of 6.0% and in FirstEnergy Corp of 5.7%.

Allegheny Energy, Inc led gainers in the S&P 500 index with a rise of 9.3% followed by gains in CSX Corporation 3.1%, in Lennar Corporation of 3.0% and in V.F. Corporation 2.7%.

Other Movers

3M Company ((MMM)) rose 1.1% or 90 cents to $79.52 after the diversified technology company was upgraded to “outperform” from “market-perform” by Sanford C. Bernstein & Co.

Administaff, Inc ((ASF)) rose 0.09% or 2 cents to $22.85 after the professional employer organization reported fourth quarter revenues fell 7.1% to $395.9 million from $426 million a year ago. Net loss in the quarter was $2.81 million or 11 cents per diluted share compared to net income of $9.71 million or 39 cents per share a year ago.

Amkor Technology, Inc ((AMKR)) dropped 3.7% or 24 cents to $6.10 after the microchip packaging and testing company said fourth quarter revenues rose 21.7% to $668 million from $548.7 million a year ago. Net income in the quarter was $88 million or 33 cents per diluted share compared to net loss of $623 million or $3.40 per share a year ago.

AptarGroup, Inc ((ATR)) added 1.6% or 57 cents to $35.65 after the cosmetics and perfume dispenser maker said fourth quarter revenues rose 9% to $495.6 million from $455.9 million a year ago. Net income in the quarter rose 15.4% to $36.0 million or 52 cents per diluted share compared to net profit of $31.2 million or 46 cents per share a year ago.

AutoNation, Inc ((AN)) rose 1.4% or 26 cents to $18.49 after the auto retailer reported fourth quarter revenues rose 8% to $2.8 billion from $2.6 billion a year ago. Net income in the quarter fell 8% to $61.7 million or 35 cents per diluted share compared to net income of $67.1 million or 38 cents per share a year ago.

BorgWarner Inc ((BWA)) rose 1.4% or 52 cents to $36.75 after the supplier of variety of advanced engine technologies fourth quarter sales rose 28.6% to $1.20 billion from $931.5 million a year ago. Net income in the quarter was $52.7 million or 45 cents per diluted share compared to net loss of $81.4 million or 70 cents per share a year ago.

Boston Scientific Corporation ((BSX)) dropped 8.5% or 71 cents to $7.58 after the maker of heart devices was downgraded to “hold” from “buy” at Deutsche Bank AG.

Cadence Pharmaceuticals, Inc ((CADX)) slipped 4.3% or 45 cents to $9.83 after the biopharmaceutical company announced today that the U.S. Food and Drug Administration has issued a Complete Response letter to its New Drug Application for intravenous (IV) acetaminophen.

Copa Holdings, S.A ((CPA)) climbed 0.6% or 33 cents to $51.00 after the provider of airline passenger and cargo service said fourth quarter revenues fell 0.9% to $343.0 million from $346.1 million a year ago. Net income in the quarter rose 173% to $70.4 million or $1.61 per diluted share compared to net profit of $25.8 million or 59 cents per share a year ago.

Core Laboratories N.V ((CLB)) rose 0.9% or $1.11 to $120.59 after the provider of proprietary and patented reservoir management services said fourth quarter revenues fell 9.7% to $181.6 million from $201.2 million a year ago. Net income in the quarter fell 33% to $23.6 million or $1.00 per diluted share compared to net profit of $35.2 million or $1.51 per share a year ago.

Everest Re Group, Ltd ((RE)) increased 0.7% or 63 cents to $84.37 after the reinsurer said fourth quarter revenues fell 9.7% to $1.18 billion from $722.8 million a year ago. Net income in the quarter was $197.2 million or $3.28 per diluted share compared to net loss of $16.6 million or 27 cents per share a year ago.

JA Solar Holdings Co., Ltd ((JASO)) gained 7.9% or 37 cents to $5.03 after the manufacturer of high-performance solar power products reported fourth quarter revenues rose 66.2% to Rmb 1.6 billion from Rmb 979.0 million a year ago.

Net income in the quarter rose 2.5% to Rmb 152.5 million or Rmb 0.94 per ADS compared to net income of Rmb 148.8 billion or Rmb 0.68 net loss per ADS a year ago.

The company increased its shipment forecast to 900 MW from its previous outlook of 750 MW to 800 MW.

Longtop Financial Technologies Limited ((LFT)) gained 4.1% or $1.32 to $33.23 after the software developer and solutions provider said third quarter revenues rose 66% to $54.7 million from $32.9 million a year ago. Net income in the quarter rose 79% to $25.8 million or 46 cents per diluted share compared to net profit of $14.4 million or 28 cents per share a year ago.

LoopNet, Inc ((LOOP)) fell 1.7% or 17 cents to $9.40 an online marketplace for commercial real estate said fourth quarter revenues fell 13.3% to $18.3 million from $21.1 million a year ago. Net income in the quarter fell 22% to $3.2 million or 7 cents per diluted share compared to net profit of $4.1 million or 12 cents per share a year ago.

Masco Corp ((MAS)) dropped 5.3% to $13.73 after it reported fourth quarter loss of $185 million or 53 cents a share compared to $508 million or $1.45 a share loss a year ago quarter. Revenues declined 3% to $1.9 billion and the company will not provide 2010 earnings outlook and chief executive said on a conference call, “We are little bit cautious.”

Prudential Financial, Inc ((PRU)) declined 2.5% or $1.24 to $47.64 after the financial services company said fourth quarter revenues rose 15% to $6.8 billion from $5.9 billion a year ago. Net income in the quarter was $1.78 billion or $3.79 per diluted share compared to net loss of $1.66 billion or $3.89 per share a year ago.

Progress Energy, Inc ((PGN)) fell 0.9% or 36 cents to $37.57 an integrated electric utility company reported fourth quarter revenues rose 6.9% to $2.31 billion from $2.16 billion a year ago. Net income in the quarter rose 53% to $164 million or 59 cents per diluted share compared to net income of $107 million or 41 cents per share a year ago.

ProLogis ((PLD)) dropped 5.8% or 72 cents to $11.68 after the provider of distribution facilities reported fourth quarter revenues fell 82% to $260.3 million from $1.47 billion a year ago. Net loss in the quarter was $408.5 million or 86 cents per diluted share compared to net loss of $901.2 million or $3.39 per share a year ago.

PepsiCo, Inc ((PEP)) added 1.9% or $1.18 to $61.56 after the drink maker reported fourth quarter sales rose 4.5% to $13.3 billion from $12.7 billion a year ago. Net income in the quarter rose 2% to $1.42 billion or 90 cents per diluted share compared to net income of $1.39 billion or 88 cents per share a year ago.

Smith & Nephew plc ((SNN)) increased 3.8% or $1.93 to $51.67 after the medical device company reported fourth quarter revenues rose 11% to $1.07 billion from $960 million a year ago. Net profit for the quarter rose 9.4% to $128 million compared to net profit of $117 million a year ago.

Teradata Corporation ((TDC)) fell 1.9% or 56 cents to $28.05 after the company solely focused on data warehousing and enterprise analytics reported fourth quarter revenues rose 0.6% to $496 million from $493 million a year ago. Net income in the quarter rose 6.3% to $84 million or 48 cents per diluted share compared to net income of $79 million or 45 cents per share a year ago.

The Allstate Corporation ((ALL)) rose 0.1% or 5 cents to $28.65 after the property and casualty insurer said fourth quarter revenues rose 23% to $8.06 billion from $6.57 billion a year ago. Net income in the quarter was $518 million or 96 cents per diluted share compared to net loss of $1.13 billion or $2.10 per share a year ago.

Vale S.A ((VALE)) fell 0.7% or 20 cents to $26.00 after the mining company said fourth quarter revenues fell 13% to $6.33 billion from $7.26 billion a year ago. Net income in the quarter rose 10.9% to $1.52 billion or 28 cents per diluted share compared to net profit of $1.37 billion or 26 cents per share a year ago.

V.F. Corporation ((VFC)) rose 2.6% or $1.94 to $74.38 after the branded lifestyle apparel provider reported fourth quarter sales rose 0.5% to $1.92 billion from $1.91 billion a year ago. Net income in the quarter fell 42% to $66.9 million or 60 cents per diluted share compared to net income of $115.9 million or $1.05 per share a year ago.