AIG, Weight Watchers Falls; Rosetta Stone Rise

Mayank Mehta
26 Feb, 2010
New York City

American International Group, Inc led the decliners in the S&P 500 index with a loss of 7.8%. Fluor Corp reports lower profit and cuts outlook. The Gap, Inc fourth quarter net ahead of expectations.

[R]1:00 PM New York – American International Group, Inc led the decliners in the S&P 500 index with a loss of 7.8%. Fluor Corp reports lower profit and cuts outlook. The Gap, Inc fourth quarter net ahead of expectations. Rosetta Stone Inc surged 26%.[/R]

Of the stocks in S&P 500 index, 180 increased, 309 declined and 11 were unchanged.

American International Group, Inc led the decliners in the S&P 500 index with a loss of 7.8% followed by losses in Fluor Corporation of 5.1% and in CenterPoint Energy, Inc of 2.6%, in Novell, Inc of 2.0% and in Salesforce.com, inc of 2.0%.

The Interpublic Group of Companies, Inc led gainers in the S&P 500 index with a rise of 7.1% followed by gains in The Gap, Inc 4.4%, in Eaton Corporation of 2.3% and in Big Lots, Inc 1.9%.

Other Movers

American International Group, Inc ((AIG)) decreased 8.4% or $2.32 to $25.19 after the insurer reported fourth quarter net loss of $8.9 billion or $65.51 per diluted common share compared to net loss of $61.7 billion or $458.99 per diluted share a year ago.

Athenahealth, Inc ((ATHN)) plunged 12.6% or $5.52 to $38.00 after the provider of Internet-based services for medical practices announced that it will postpone the release of its financial results for the fourth quarter of 2009 and the year ended December 31, 2009.

BioScrip, Inc ((BIOS)) decreased 0.1% or 1 cent to $7.13 after the specialty pharmaceutical healthcare organization reported fourth quarter revenues fell 7% to $341.6 million from $366.6 million a year ago. Net income in the quarter was $40.7 million or 99 cents per diluted share compared to net loss of $76.7 million or $1.98 per share a year ago.

The Boeing Company ((BA)) rose 1% or 67 cents to $63.54 after the commercial planemaker signed an A$44 million contract to provide aviation training to Australian army.


Cogent, Inc ((COGT)) decreased 8.4% or 88 cents to $9.56 after the provider of automated fingerprint identification systems said fourth quarter sales fell 5% to $37.9 million from $40.0 million a year ago. Net income in the quarter fell 18% to $9.4 million or 10 cents per diluted share compared to net income of $11.5 million or 13 cents per share a year ago.

Crocs, Inc ((CROX)) plunged 12.4% or 97 cents to $6.82 after the maker of colorful clogs with holes today announced that its board of directors has promoted John McCarvel to president and chief executive officer effective March 1. He succeeds John Duerden, who is retiring from the company and resigning as president and CEO and also from his position on the company’s board.

Fluor Corporation ((FLR)) declined 5.9% or $2.69 to $42.36 after the engineering and construction management firm said fourth quarter revenues fell 9.7% to $5.48 billion from $6.07 billion a year ago. Net income in the quarter fell 21.5% to $148.7 million or 82 cents per diluted share compared to net income of $189.5 million or $1.03 per share a year ago.

The Gap, Inc ((GPS)) added 2.0% or 41 cents to $20.39 after the specialty retailer said fourth quarter sales rose 4% to $4.24 billion from $4.08 billion a year ago. Net income in the quarter rose 45% to $352 million or 51 cents per diluted share compared to net income of $243 million or 34 cents per share a year ago.

Palm, Inc ((PALM)) fell 3.8% or 25 cents to $6.28 after the maker of the Pre mobile phone was downgraded to “sell” from “neutral” at UBS AG.

Southwestern Energy Company ((SWN)) fell 0.3% or 14 cents to $42.85 the energy company said fourth quarter revenues rose 25% to $624.5 million from $500.1 million a year ago. Net income in the quarter rose 51.4% to $157.8 million or 45 cents per diluted share compared to net income of $104.2 million or 30 cents per share a year ago.

Rosetta Stone Inc ((RST)) surged 26% to $21.93 after it estimated 2010 revenues between $286 million and $299 million and earnings between 90 cents a share and $1 a share. The company estimated first quarter earnings per share of 7 cents to 9 cents and revenues between $58 million and $60 million.

Telefonica, S.A ((TEF)) fell 1.1% or 77 cents to $68.75 after the telecommunications company reported fourth quarter revenues rose 1.3% to €15.0 billion from €14.8 billion a year ago. Net income in the quarter rose 22.6% to €2.44 billion compared to net income of €1.99 billion a year ago.

VanceInfo Technologies Inc ((VIT)) gained 6.2% or $1.12 to $19.10 an information technology service provider said fourth quarter revenues rose 44% to $43.3 million from $30.1 million a year ago. Net income in the quarter rose 29% to $6.7 million or 16 cents per diluted share compared to net income of $5.2 million or 13 cents per share a year ago.

Volcom, Inc ((VLCM)) increased 5.0% or 79 cents to $16.45 after the clothing maker said fourth quarter revenues fell 7.8% to $64.2 million from $69.6 million a year ago. Net income in the quarter was $3.4 million or 14 cents per diluted share compared to net loss of $8.7 million or 36 cents per share a year ago.

Westar Energy, Inc ((WR)) fell 0.5% or 11 cents to $22.04 after the provider of electric generation, transmission and distribution services said fourth quarter revenues rose 8.4% to $440.1 million from $406.1 million a year ago. Net income in the quarter fell 51% to $11.1 million or 10 cents per diluted share compared to net income of $22.6 million or 21 cents per share a year ago.

Weight Watchers International, Inc ((WTW)) plunged 13.5% or $4.05 to $26.14 after the provider of weight control programs announced fourth quarter revenues were $311.3 million from $346.2 million a year ago.

World Fuel Services Corporation ((INT)) surged 10.0% or $2.43 to $26.64 after the seller of fuel to airlines and ships said fourth quarter net income of $34.5 million or 57 cents diluted earnings per share compared to $28.7 million or 49 cents diluted earnings per share a year ago.

Wynn Resorts, Limited ((WYNN)) fell 1.9% or $1.24 to $61.56 after the casino company said fourth quarter revenues were $809.3 million compared to $614.3 million a year ago.