Chipotle Up; Blue Nile, Buffalo Wild Plunge

Mayank Mehta
12 Feb, 2010
New York City

S&P 500 index, the Dow and the Nasdaq declined more than 0.8%. Blue Nile dropped nearly 8% after it estimated lower than expected earnings. Buffalo Wild Wings plunged 12% after it reported lower than expected adjusted earnings. Miners and metals stocks fell on weak commodities.

[R]11:40 AM New York - The S&P 500 indes, the Dow and the Nasdaq declined more than 0.8%. Blue Nile dropped nearly 8% after it estimated lower than expected earnings. Buffalo Wild Wings plunged 12% after it reported lower than expected adjusted earnings. Miners and metals stocks fell on weak commodities.[/R]

Of the stocks in S&P 500 index, 13 increased, 487 declined and 0 were unchanged.

Textron Inc led the decliners in the S&P 500 index with a loss of 4.4% followed by losses in Teradata Corporation of 3.6% and in Sprint Nextel Corporation of 3.3%, in Memc Electronic Materials Inc of 3.2% and in El Paso Corporation of 3.2%.

Motorola, Inc led gainers in the S&P 500 index with a rise of 3.1% followed by gains in Agilent Technologies, Inc 2.7%, in JDS Uniphase Corporation of 2.6% and in McAfee, Inc 2.0%.

Other Movers

3M Company ((MMM)) decreased 2.0% or $1.67 to $78.60 after the diversified technology company was downgraded to “underperform” from “neutral” at Bank of America Corp.

Agilent Technologies, Inc ((A)) added 4.9% or $1.44 to $30.80 after the electronic-measurement-solutions company reported first quarter revenues rose 4% to $1.21 billion from $1.17 billion a year ago. Net income in the quarter rose 23% to $79 million or 22 cents per diluted share compared to net income of $64 million or 18 cents per share a year ago.

ArcelorMittal ((MT)) declined 1.8% to $36.81 after iron ore miners are asking another price increase this year following four years of successive price hikes averaging 35% a year. The latest price negotiations tone was reported by Financial Times in London.

Mining companies declined after China tightened its monetary policy. Rio Tinto Plc ((RTP)) dropped 2.4% to $201.43 and Vale SA decreased 1.5% to $26.69. BHP Billiton ((BHP)) dropped 1.4% to $71.62.

Blue Nile, Inc ((NILE)) dropped 8.0% or $4.25 to $48.31 after the Internet diamond retailer said fourth quarter sales rose 20% to $102.9 million from $85.8 million a year ago. The retailer also estimated 16 cents a share in the first quarter, lower than anticipated by the market.

Buffalo Wild Wings, Inc ((BWLD)) plunged 14.2% or $6.89 to $41.51 after the restaurant operator said fourth quarter revenues rose 19.6% to $145.0 million from $121.2 million a year ago. Net income in the quarter rose 8% to $8.3 million or 46 cents per diluted share compared to net income of $7.7 million or 43 cents per share a year ago.

The Cheesecake Factory Incorporated ((CAKE)) fell 2.0% or 46 cents to $22.20 after the restaurant chain said fourth quarter revenues rose 0.05% to $400.6 million from $400.4 million a year ago. Net loss in the quarter was $13,000 or break even per diluted share compared to net income of $7.1 million or 12 cents per share a year ago.

Chipotle Mexican Grill, Inc ((CMG)) dropped 3.8% or $3.87 to $97.25 after the restaurant said fourth quarter sales rose 12.2% to $387.5 million from $345.3 million a year ago. Net income in the quarter rose 86% to $31.6 million or 99 cents per diluted share compared to net income of $17.0 million or 52 cents per share a year ago.

Compellent Technologies, Inc ((CML)) plunged 18.0% or $3.88 to $17.89 after the maker of storage computers was downgraded to “underperform” from “market perform” at William Blair & Co.

Coinstar, Inc ((CSTR)) dropped 4.3% or $1.22 to $26.71 after the owner of Redbox movie-rental kiosks was downgraded to “hold” from “buy” at Brigantine Advisors.

General Cable Corporation ((BGC)) slipped 2.3% or 66 cents to $27.50 after the fiber optic and metal cable products said fourth quarter sales fell 12.4% to $1.13 billion from $1.29 billion a year ago. Net loss in the quarter was $9.3 million or 17 cents per diluted share compared to net income of $10.6 million or 20 cents per share a year ago.

Ingersoll-Rand plc ((IR)) rose 1.7% or 59 cents to $33.98 after the maker of heating and cooling systems for homes reported fourth quarter revenues fell 10% to $3.31 billion from $3.67 billion a year ago. Net income in the quarter was $139.4 million or 42 cents per diluted share compared to net loss of $3.29 billion or $10.27 per share a year ago.

McAfee, Inc ((MFE)) dropped 1.2% or 48 cents to $37.41 after the security software maker said fourth quarter revenues rose 24% to $525.7 million from $424.0 million a year ago. Net income in the quarter rose 20% to $54.5 million or 34 cents per diluted share compared to net income of $45.4 million or 29 cents per share a year ago.

Microtune, Inc ((TUNE)) rose 1.3% or 3 cents to $2.33 after the provider of radio frequency integrated circuits said fourth quarter sales fell 12% to $21.1 million from $24.0 million a year ago. Net loss in the quarter was $1.2 million or 2 cents per diluted share compared to net income of $822,000 or 2 cents per share a year ago.

Oshkosh Corporation ((OSK)) fell 3.9% or $1.54 to $38.02 after the maker of commercial and military trucks was downgraded to “hold” from “buy” at Keybanc Capital Markets.

Panera Bread Company ((PNRA)) fell 2.7% or $2.01 to $70.90 after the operator of retail bakery-cafes said fourth quarter revenues rose 2.6% to $367.0 million from $357.8 million a year ago. Net income in the quarter rose 16.4% to $29.7 million or 95 cents per diluted share compared to net income of $25.5 million or 84 cents per share a year ago.

Pier 1 Imports, Inc ((PIR)) increased 4.0% or 22 cents to $5.68 after the retailer of imported furniture was upgraded to “outperform” from “market perform” at Oppenheimer & Co.

Precision Drilling Trust ((PDS)) rose 0.2% or 2 cents to $8.40 after the land drilling company reported fourth quarter revenues fell 14.6% to $286.1 million from $335 million a year ago. Net income in the quarter fell 31% to $92.6 million or 9 cents per diluted share compared to net income of $134.8 million or 66 cents per share a year ago.

Schweitzer-Mauduit International, Inc ((SWM)) added 2.8% or $1.33 to $47.98 after the maker of fine papers for cigarettes was designated by Philip Morris USA, Inc. as the sole supplier of the co-developed cigarette paper technology used to produce low ignition propensity cigarettes.