Massey, Apple, Ciena, InterMune Rise

123jump.com Staff
05 Mar, 2010
New York City

General Growth Properties gains on the first day of trading. RCN, the regional cable provider soared 23% on a private equity buyout. Coal miners advanced after India based Essar Group acquired Trinity Coal. Apple Inc added 2.5% ahead of the release of iPad. Cache fourth quarter loss

[R]12:00 PM New York – General Growth Properties gains on the first day of trading. RCN, the regional cable and broad band provider soared 23% on a private equity buyout. Coal miners advanced after India based Essar Group acquired Trinity Coal. Apple Inc added 2.5% ahead of the release of iPad. Cache Inc fourth quarter loss narrowed.[/R]

Of the stocks in S&P 500 index, 405 increased, 84 declined and 11 were unchanged.

Frontier Communications Corporation led the decliners in the S&P 500 index with a loss of 4.6% followed by losses in CenturyTel, Inc of 2.5% and in Tyson Foods, Inc of 1.8%, in CF Industries Holdings, Inc of 1.3% and in Hospira, Inc of 1.2%.

Monster Worldwide, Inc led gainers in the S&P 500 index with a rise of 3.5% followed by gains in Massey Energy Company 3.3%, in Textron Inc of 3.0% and in Cliffs Natural Resources Inc 2.9%.

Other Movers

51job, Inc ((JOBS)) added 5.7% or $1.05 to $19.25 after the provider of integrated human resource services said fourth quarter revenues rose 15% to Rmb 226.0 million from Rmb 196.2 million a year ago. Net income in the quarter rose 582% to Rmb 46.4 million or Rmb 1.67 per ADS compared to net income of Rmb 6.8 million or Rmb 0.24 per ADS a year ago.

Aircastle Limited ((AYR)) rose 0.4% or 4 cents to $9.70 after the commercial jet leasing company reported fourth quarter revenues fell 14% to $135.8 million from $157.8 million a year ago. Net income in the quarter fell 7% to $23.0 million or 29 cents per diluted share compared to net income of $24.7 million or 31 cents per share a year ago.

ArcSight, Inc ((ARST)) decreased 8.2% or $2.38 to $26.51 after the developer of computer security software reported third quarter revenue increased 27% to $46.1 million from revenues of $36.4 million a year ago.

Ashland Inc ((ASH)) fell 0.1% or 9 cents to $50.00 after the maker of adhesives and sealants was downgraded to “neutral” from “positive” at Susquehanna International Group LLP.

Blount International, Inc ((BLT)) closed unchanged at $11.29 an international industrial company reported fourth quarter sales rose 5.8% to $141.5 million from $133.8 million a year ago. Net income in the quarter fell 6% to $6.5 million or 13 cents per diluted share compared to net income of $6.9 million or 14 cents per share a year ago.

Cache, Inc ((CACH)) increased 3% $4.85 after it reported fiscal fourth quarter loss narrowed to $1.2 million or 9 cents a share compared to a loss of $5.5 million or 42 cents a share. Sales declined 1% in the quarter to $65 million.

Capital One Financial Corporation ((COF)) rose 0.4% or 16 cents to $37.00 after the credit cards issuer was downgraded to “neutral” from “buy” at Goldman Sachs Group Inc.

Ciena Corporation ((CIEN)) surged 10.2% or $1.46 to $15.43 after the maker of fiber-optic network gear was upgraded to “outperform” from “neutral” at Cowen & Co.

Coldwater Creek Inc ((CWTR)) gained 9.0% or 61 cents to $7.32 after the women’s clothing retailer was upgraded to “overweight” from “equal weight” at Barclays Capital.

DISH Network Corporation ((DISH)) increased 3.3% or 69 cents to $21.28 after the satellite-television provider was upgraded to “buy” from “hold” at Collins Stewart LLC.

Dynamic Materials Corporation ((BOOM)) declined 9.1% or $1.74 to $17.32 after the industrial manufacturer of equipment and materials said fourth quarter sales fell 27.3% to $42.6 million from $58.6 million a year ago. Net income in the quarter fell 81.5% to $1.0 million or 8 cents per diluted share compared to net income of $5.4 million or 42 cents per share a year ago.

Eaton Corporation ((ETN)) rose 2.2% or $1.62 to $73.18.

Entravision Communications Corporation ((EVC)) increased 3.5% or 11 cents to $3.22 after the spanish-language media company said fourth quarter revenues fell 9% to $48.1 million from $52.8 million a year ago. Net loss in the quarter was $52.0 million or 62 cents per diluted share compared to net loss of $136.5 million or $1.52 per share a year ago.

General Growth Properties Inc ((GGP)) rose 2% to $14 after it was reinstated on the New York Stock Exchange.

Giant Interactive Group Inc ((GA)) fell 0.9% or 7 cents to $7.24 an online game developer said fourth quarter revenues fell 22% to Rmb 276.0 million from Rmb 353.1 million a year ago. Net income in the quarter fell 32% to Rmb 197.8 million or Rmb 0.85 per diluted share compared to net income of Rmb 290.3 million or Rmb 1.23 per share a year ago.

InterMune, Inc ((ITMN)) soared 64% to $23.87 after the U.S. regulatory decided to review its new application for lung disease even though the previous trial failed to meet certain tests indicating better than expected review.

Marvell Technology Group Ltd ((MRVL)) slipped 6.8% or $1.38 to $18.75 after the chipmaker said fourth quarter revenues rose 64% to $842.5 million from $512.9 million a year ago. Net income in the quarter was $204.8 million or 31 cents per diluted share compared to net loss of $65.0 million or 11 cents per share a year ago.

Massey Energy Co. ((MEE)) soared 5.3% to $48.94 after Indian based Essar Group agreed to acquire Trinity Coal from Denham Capital management LP. Patriot Coal Corp increased 7.3% to $20.50 after stocks in the sector rallied.

Orbital Sciences Corporation ((ORB)) rose 1.5% or 30 cents to $18.90 after the maker of booster rockets for the U.S. missile- defense program to discuss the company’s agreement to acquire the spacecraft development and manufacturing business of General Dynamics Corporation’s.

Overseas Shipholding Group Inc ((OSG)) dropped 4.7% to $44.79 after the largest oil tankers reported fourth quarter loss and the company plans to sell 3.5 million shares and lower the debt.

RCN Corporation ((RCNI)) soared 22.7% to $15.05 after the company agreed to be acquired by a private equity group ABRY Partners LLC for $531 million. The cable and broad band services provider in the regions includes New York, Philadelphia, Boston and Chicago.

Solarfun Power Holdings Co. ((SOLF)) dropped 8% after the company reported better than expected earnings but by a margin less than analysts’ expectations.

TiVo Inc ((TIVO)) added 4.1% or 66 cents to $17.19 after the pioneer of digital video recorders was upgraded to “overweight” from “neutral” at JPMorgan Chase & Co.

Tyson Foods, Inc ((TSN)) fell 1.3% or 24 cents to $17.26 after the processor of chicken, beef and pork was downgraded to “hold” from “buy” at BB&T Capital Markets.

Veolia Environnement ((VE)) fell 4.3% or $1.47 to $32.46 after the provider of environmental management services said fiscal 2009 revenues fell 3.4% to €34.6 billion from €35.8 billion a year ago. Net income for the year rose 44% to €584.1 million or €1.24 per diluted share compared to net income of €405.1 million or €0.88 per share a year ago.