AgFeed, Casey's Rise; H&R Block, Thor Fall

Mayank Mehta
09 Mar, 2010
New York City

AgFeed Industries surged more than 15% after it estimated a surge in hog production. Comercia Inc launched $800 million offering to redeem preferred shares issued to the U.S. Treasury. H&R Block declined on same store tax preparation fell 6.8%. Texas instruments guided sales and net higher.

[R]11:15 AM New York – AgFeed Industries surged more than 15% after it estimated a surge in hog production. Comercia Inc launched $800 million offering to redeem preferred shares issued to the U.S. Treasury. H&R Block declined on same store tax preparation fell 6.8%. Texas instruments guided sales and net at the upper end of the estimates.[/R]

Of the stocks in S&P 500 index, 143 increased, 348 declined and 9 were unchanged.

H&R Block, Inc led the decliners in the S&P 500 index with a loss of 3.5% followed by losses in Invesco Ltd of 3.3% and in Marshall & Ilsley Corporation of 2.8%, in Regions Financial Corporation of 2.5% and in CBS Corporation of 2.5%.

Sprint Nextel Corporation led gainers in the S&P 500 index with a rise of 3.0% followed by gains in Novell, Inc 2.9%, in YUM! Brands, Inc of 2.6% and in Nvidia Corporation of 2.2%.

Other Movers

Aetna Inc ((AET)) rose 0.7% or 22 cents to $31.44 after the health insurer was upgraded to “neutral” from “underperform” at Bank of America Corp.

Casey’s General Stores, Inc ((CASY)) decreased 2.4% or 76 cents to $30.74 after the convenience store said third quarter revenues rose 30.7% to $1.11 billion from $849.3 million a year ago. Net income in the quarter rose 23% to $17.2 million or 34 cents per diluted share compared to net income of $14.0 million or 28 cents per share a year ago.

Cisco Systems, Inc ((CSCO)) the maker of networking gear traded unchanged at $26.13 ahead of new products announcements.

Chevron Corporation ((CVX)) fell 0.1% or 11 cents to $74.53 after the energy company makes a presentation to investors in New York and announces a plan to close refineries in Caribbean and in Scotland, UK.

Comerica Incorporated ((CMA)) dropped 2.4% or 90 cents to $35.47 after the bank today announced that it priced an $800 million offering of 2.25 million shares of its common stock at $35.00 per share.

Dick’s Sporting Goods, Inc ((DKS)) decreased 1.6% or 41 cents to $25.21 after the sporting goods retailer reported fourth quarter sales rose 10.7% to $1.34 billion from $1.21 billion a year ago. Net income in the quarter was $67.4 million or 56 cents per diluted share compared to net loss of $105.6 million or 94 cents per share a year ago.

First Solar, Inc ((FSLR)) dropped 2.4% or $2.61 to $106.03 after the maker of thin-film solar cells was downgraded to “underweight” from “neutral” at JPMorgan Chase & Co.

Henry Schein, Inc ((HSIC)) slipped 0.6% or 39 cents to $56.22 after the distributor of health-care products was upgraded new “neutral” at UBS AG.

H&R Block, Inc ((HRB)) declined 2.6% or 44 cents to $16.30 after the tax preparer said third quarter revenues fell 6% to $934.9 million from $993.4 million a year ago. Net income in the quarter rose 7% to $50.6 million or 15 cents per diluted share compared to net income of $47.4 million or 14 cents per share a year ago.

Humana Inc ((HUM)) the health insurer rose 0.1% or 6 cents to $48.01 and the company reiterated annual earnings per share outlook of between $5.15 and $5.35.

Jacobs Engineering Group Inc ((JEC)) rose 1.7% or 73 cents to $42.74 after the publicly traded engineering company was upgraded to “buy” from “neutral” at Bank of America.

Korn/Ferry International ((KFY)) closed unchanged at $18.04 after the recruitment company reported third quarter revenues rose 6% to $152.9 million from $144.5 million a year ago. Net income in the quarter was $7.9 million or 17 cents per diluted share compared to net loss of $22.4 million or 52 cents per share a year ago.

Northrop Grumman Corporation ((NOC)) rose 0.4% or 30 cents to $64.46 and the defense company pulled out of fuel tanker project as it had threatened earlier.

The Procter & Gamble Company ((PG)) rose 0.2% or 15 cents to $63.34 after the company in response to a recommendation from the Food & Drug Administration to the food industry, announced today that it is voluntarily recalling Pringles branded potato crisps as part of an industry ingredient recall to protect consumers from potential Salmonella exposure.

Systemax Inc ((SYX)) surged 11.7% or $2.07 to $19.75 after the marketer of brand name and private-label products said fourth quarter sales rose 15% to $938.2 million from $812.7 million a year ago. Net income in the quarter rose 84% to $18.4 million or 49 cents per diluted share compared to net income of $10.0 million or 27 cents per share a year ago.

TiVo Inc ((TIVO)) fell 2.5% or 43 cents to $16.65 after the digital video recorder maker said fourth quarter revenues rose 15.7% to $68.5 million from $59.2 million a year ago. Net loss in the quarter was $10.2 million or 9 cents per diluted share compared to net loss of $3.6 million or 4 cents per share a year ago.

Thor Industries, Inc ((THO)) the maker of motor homes and travel trailers decreased 6.9% or $2.49 to $33.57.

The Travelers Companies, Inc ((TRV)) slipped 0.1% or 7 cents to $53.73 after the insurer was upgraded new “buy” at Citigroup Inc.

Texas Instruments Incorporated ((TXN)) dropped 2.5% or 63 cents to $24.06 after the chipmaker guided 2010 revenues between $3.07 billion and $3.19 billion, compared with the prior range of $2.95 billion and $3.19 billion. Earnings per share estimate was revised higher to between 47 cents and 52 cents, compared to the prior range between 44 cents and 52 cents.

UAL Corporation ((UAUA)) the United Airlines rose 6.7% or $1.19 to $18.69 after it reported revenues per passenger miles flown increased at least 17% in February.

United Technologies Corporation ((UTX)) rose 1.2% or 88 cents to $71.64 after the maker of Pratt & Whitney jet engines and Otis elevators was upgraded to “outperform” from “neutral” at Cowen & Co.

WuXi PharmaTech (Cayman) Inc ((WX)) declined 5.6% or 90 cents to $14.91 after the pharmaceutical research outsourcing company reported fourth quarter revenues rose 15% to $73.9 million from $64.4 million a year ago. Net income in the quarter was $12.1 million or 16 cents per ADS compared to net loss of $93.9 million or $1.42 per ADS a year ago.

YUM! Brands, Inc ((YUM)) added 2.8% or 99 cents to $36.40 after the owner of the Pizza Hut and Taco Bell restaurant chains was upgraded to “buy” from “neutral” at UBS.