Deere, Whole Foods Rise; Owens Corning Drops

Mayank Mehta
17 Feb, 2010
New York City

Whole Foods Market, Inc led gainers in the S&P 500 index after it lifted the fiscal year outlook. Deere & Co lifts annual forecast after first quarter profit rises 19%. Walgreen acquires Duane Reade for $1.1 billion. Martha Stewart Living Omnimedia surged 9% on 20% increase in quarterly revenues.

[R]11:50 AM New York – Whole Foods Market, Inc led gainers in the S&P 500 index after it lifted the fiscal year outlook. Deere & Co lifts annual forecast after first quarter profit rises 19%. Walgreen acquires Duane Reade for $1.1 billion. Martha Stewart Living Omnimedia surged 9% on 20% increase in quarterly revenues.[/R]

Of the stocks in S&P 500 index, 336 increased, 155 declined and 9 were unchanged.

FMC Technologies, Inc led the decliners in the S&P 500 index with a loss of 4.6% followed by losses in Nabors Industries Limited of 3.1% and in CB Richard Ellis Group, Inc of 2.0%, in NetApp, Inc of 1.7% and in Regions Financial Corporation of 1.3%.

Whole Foods Market, Inc led gainers in the S&P 500 index with a rise of 8.4% followed by gains in Deere & Company 7.0%, in Iron Mountain Incorporated of 5.1% and in Office Depot, Inc 3.4%.

Other Movers

American Campus Communities, Inc ((ACC)) added 2.5% or 65 cents to $26.62 after the real estate investment trust said fourth quarter revenues rose 7% to $82.7 million from $77.4 million a year ago. Net loss in the quarter was $1.9 million or 4 cents per diluted share compared to net loss of $3.4 million or 8 cents per share a year ago.

American Medical Systems Holdings Inc ((AMMD)) decreased 2.6% or 50 cents to $18.35 after the urological medical devices supplier said fourth quarter sales rose 9% to $146.0 million from $134.0 million a year ago. Net income in the quarter rose 137% to $22.3 million or 30 cents per diluted share compared to net income of $9.4 million or 13 cents per share a year ago.

Arch Capital Group Ltd ((ACGL)) dropped 0.01% or 1 cent to $73.25 after the insurance company said fourth quarter revenues rose 73% to $926.2 million from $534.9 million a year ago. Net income in the quarter was $284.7 million or $4.75 per diluted share compared to net loss of $143.0 million or $2.38 per share a year ago.

Brush Engineered Materials Inc ((BW)) surged 15.5% or $2.77 to $20.56 after the manufacturer of engineered materials reported fourth quarter sales rose 9.6% to $215.2 million from $196.3 million a year ago. Net loss in the quarter was $3.6 million or 18 cents per diluted share compared to net loss of $3.3 million or 16 cents per share a year ago.

Comtex News Network, Inc ((CMTX)) plunged 54% to 12.5 cents after it reported revenues increased to $1.8 million in the second quarter to $1.8 million and net loss of $126,000 compared to $1.6 million in revenues and a net of $43,000.

Deere & Company ((DE)) gained 6.6% or $3.55 to $57.33 after the heavy equipment maker reported first quarter sales fell 6% to $4.84 billion from $5.15 billion a year ago. Net income in the quarter rose 19% to $243.2 million or 57 cents per diluted share compared to net income of $203.9 million or 48 cents per share a year ago.

Discovery Communications Inc ((DISCA)) the owner of cable channels increased 7.5% or $2.19 to $31.13.

Fundtech Ltd ((FNDT)) increased 3.2% or 44 cents to $13.98 after the provider of transaction banking solutions reported fourth quarter revenues rose 10% to $32.8 million from $29.8 million a year ago. Net income in the quarter was $3.4 million or 21 cents per diluted share compared to net loss of $2.2 million or 14 cents per share a year ago.

Genzyme Corporation ((GENZ)) rose 1.0% or 42 cents to $55.87 after the biotechnology company reported fourth quarter revenues fell 7.7% to $1.08 billion from $1.17 billion a year ago. Net income in the quarter fell 73% to $23.2 million or 9 cents per diluted share compared to net income of $86.7 million or 31 cents per share a year ago.

Healthways, Inc ((HWAY)) fell 1.7% or 28 cents to $15.80 after the wellness-program provider said fourth quarter revenues fell 5.4% to $175.2 million from $185.3 million a year ago. Net income in the quarter was $7.5 million or 22 cents per diluted share compared to net loss of $3.0 million or 9 cents per share a year ago.

ING Groep N.V ((ING)) added 3.6% or 33 cents to $9.29 after the financial services company said fourth quarter gross premium income fell 25.7% to €6.67 billion from €8.97 billion a year ago. Net loss for the quarter was €712 million or €0.33 per diluted share compared to net loss of €3.71 billion or €1.82 per share a year ago.

La-Z-Boy Incorporated ((LZB)) increased 7.0% or 82 cents to $12.46 after the furniture maker and retailer said third quarter sales rose 5.7% to $305.1 million from $288.6 million a year ago. Net income in the quarter was $11.0 million or 21 cents per diluted share compared to net loss of $64.5 million or $1.25 per share a year ago.

Martha Stewart Living Omnimedia, Inc ((MSO)) surged 9.4% or 50 cents to $5.80 after the media and merchandising company reported fourth quarter revenues rose 20% to $87.6 million from $72.9 million a year ago. Net income in the quarter was $20.8 million or 37 cents per diluted share compared to net loss of $8.0 million or 15 cents per share a year ago.

Nabors Industries Limited ((NBR)) rose 1.2% or 30 cents to $23.86 after the oilfield-services company said fourth quarter revenues fell 43.6% to $834.5 million from $1.48 billion a year ago. Net loss in the quarter was $47.3 million or 17 cents per diluted share compared to net loss of $106.7 million or 38 cents per share a year ago.

Navistar International Corporation ((NAV)) rose 2.2% or 91 cents to $40.63 after the maker of trucks today was awarded a contract for $752 million to provide 1,050 enhanced vehicles.

Owens Corning ((OC)) dropped 4.8% or $1.28 to $25.11 after the building materials maker reported fourth quarter sales fell 10% to $1.16 billion from $1.29 billion a year ago. Net loss in the quarter was $21 million or 17 cents per diluted share compared to net loss of $34 million or 27 cents per share a year ago.

Rick’s Cabaret International, Inc ((RICK)) dropped 8% after it agreed to acquire VCG Holding Company to form the largest publicly held gentleman’s club chain. The combined company will have 38 clubs and generate annual revenue of $131.2 million.

Rick’s will pay between $2.20 and $3.80 a share and assume certain debts.

Rockwood Holdings, Inc ((ROC)) added 2.8% or 62 cents to $22.73 after the manufacturer of specialty chemicals and advanced material reported fourth quarter sales rose 7.3% to $786.3 million from $732.3 million a year ago. Net income in the quarter was $10.8 million or 14 cents per diluted share compared to net loss of $690.8 million or $9.33 per share a year ago.

Rogers Communications Inc ((RCI)) fell 0.03% or 1 cent to $33.00 after the communications and media company reported fourth quarter revenues rose 4% to $3.06 billion from $2.94 billion a year ago. Net income in the quarter was $310 million or 51 cents per diluted share compared to net loss of $138 million or 22 cents per share a year ago.

SanDisk Corporation ((SNDK)) rose 5.3% or $1.45 to $28.79 after the maker of flash-memory cards for digital cameras and mobile phones was upgraded to “overweight” from “equalweight” at Morgan Stanley.

Walgreen Co ((WAG)) fell 0.1% or 6 cents to $34.03 after the drugstore chain today announced an agreement to acquire Duane Reade from affiliates of Oak Hill Capital Partners for $1.075 billion in cash including the debt.

Whole Foods Market, Inc ((WFMI)) gained 7.7% or $2.37 to $32.89 after the natural and organic grocer said first quarter sales rose 7% to $2.64 billion from $2.47 billion a year ago. Net income in the quarter rose 79% to $49.7 million or 32 cents per diluted share compared to net income of $27.8 million or 20 cents per share a year ago.