Citigroup, InterMune Rise; Navistar, J Crew Fall

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

Allergan advanced after the company won approval to use its Botox product for additional treatments. J Crew posts profit after product markdowns decline. Collective Brands loss narrows. Vail Resorts, Inc second quarter net falls.

[R]12:30 PM New York – Allergan advanced after the company won approval to use its Botox product for additional treatments. J Crew posts profit after product markdowns decline. Collective Brands loss narrows. Vail Resorts, Inc second quarter net falls.[/R]

Of the stocks in S&P 500 index, 277 increased, 207 declined and 16 were unchanged.

EQT Corporation led the decliners in the S&P 500 index with a loss of 4.7% followed by losses in XL Capital Ltd of 2.1% and in Ventas, Inc of 1.8%, in Dean Foods Company of 1.6% and in Cummins Inc of 1.5%.

American International Group, Inc led gainers in the S&P 500 index with a rise of 11.9% followed by gains in Zions Bancorporation 5.9%, in Citigroup Inc of 3.9% and in SunTrust Banks, Inc 3.8%.

Other Movers

A123 Systems, Inc ((AONE)) fell 0.9% or 16 cents to $16.59 after the battery maker reported fourth quarter sales rose 4% to $24.5 million from $23.6 million a year ago. Net loss in the quarter was $22.3 million or 22 cents per diluted share compared to net loss of $28.5 million or $3.08 per share a year ago.

AeroVironment, Inc ((AVAV)) the maker of military spy planes also known as drones fell 0.1% or 7 cents to $23.73.

Allergan, Inc ((AGN)) advanced 1.7% or $1.04 to $62.39 after the health-care company today announced that the Food and Drug Administration approved Botox for the treatment of increased muscle stiffness in the elbow, wrist and fingers in adults with upper limb spasticity.

American Eagle Outfitters, Inc ((AEO)) added 6.1% or $1.05 to $18.20 after the clothing retailer reported fourth quarter sales rose 7.3% to $972.0 million from $905.7 million a year ago. Net income in the quarter rose 81.3% to $59.3 million or 28 cents per diluted share compared to net income of $32.7 million or 16 cents per share a year ago.

The Boston Beer Company, Inc ((SAM)) decreased 4.5% or $2.35 to $49.39 after the maker of Sam Adams beer said fourth quarter revenues rose 3% to $107.2 million from $103.8 million a year ago. Net income in the quarter rose 108% to $7.5 million or 52 cents per diluted share compared to net income of $3.6 million or 25 cents per share a year ago.

Bucyrus International, Inc ((BUCY)) climbed 1.9% or $1.39 to $67.02 after the maker of mining equipment was upgraded to Goldman Sachs Group Inc.’s “conviction buy” list.

Citigroup Inc ((C)) rose 3.6% or 14 cents to $3.96 and the bank launched the $2 billion of debt securities.

Chevron Corporation ((CVX)) dropped 0.2% or 20 cents to $74.10 after the company was downgraded to “neutral” from “buy” at Bank of America.

Collective Brands, Inc ((PSS)) fell 1.8% or 44 cents to $23.55 after the footwear retailer said fourth quarter sales rose 1% to $741.7 million from $735.2 million a year ago. Net loss in the quarter was $10.9 million or 17 cents per diluted share compared to net loss of $144.0 million or $2.28 per share a year ago.

DexCom, Inc ((DXCM)) fell 1.2% or 13 cents to $9.56 after the medical device company said fourth quarter revenues rose 156% to $10.5 million from $4.1 million a year ago. Net loss in the quarter was $11.5 million or 25 cents per diluted share compared to net loss of $14.4 million or 49 cents per share a year ago.

E-House (China) Holdings Limited ((EJ)) closed unchanged at $20.43 after the real estate services company said fourth quarter revenues rose 200% to $117.1 million from $39.0 million a year ago. Net income in the quarter rose 370% to $39.0 million or 49 cents per diluted share compared to net income of $8.3 million or 10 cents per share a year ago.

ExlService Holdings, Inc ((EXLS)) gained 7.5% or $1.32 to $18.80 after the business solutions provider said fourth quarter revenues rose 36% to $59.4 million from $43.7 million a year ago. Net income in the quarter rose 120.6% to $7.5 million or 25 cents per diluted share compared to net income of $3.4 million or 12 cents per share a year ago.

Facet Biotech Corporation ((FACT)) surged 66.1% or $10.73 to $26.94 after Abbott acquire the company for $27 per share in cash valuing the company for $450 million.

InterMune, Inc ((ITMN)) surged 66.7% or $15.56 to $38.86 after the deadly lung disease treatment drug maker won an approval from an advisory panel to launch the drug in a commercial stage. The advisory panel recommendation is generally followed by the FDA.

J.Crew Group, Inc ((JCG)) fell 0.3% or 14 cents to $46.85 after the catalog retailer said fourth quarter revenues rose 18.7% to $460.6 million from $388.0 million a year ago. Net income in the quarter was $40.4 million or 61 cents per diluted share compared to net loss of $13.5 million or 22 cents per share a year ago.

Micromet, Inc ((MITI)) dropped 3.0% or 25 cents to $7.84 after the drug maker announced to sell 10 million shares of common stock in an underwritten public offering.

The Children’s Place Retail Stores, Inc ((PLCE)) rose 0.2% or 8 cents to $41.04 after the specialty retailer of children’s apparel and accessories reported fourth quarter sales rose 5% to $462.8 million from $441.5 million a year ago. Net income in the quarter fell 12% to $34.1 million or $1.23 per diluted share compared to net income of $38.8 million or $1.31 per share a year ago.

Medtronic, Inc ((MDT)) fell 0.2% or 11 cents to $44.63.

Navistar International Corporation ((NAV)) dropped 5.9% or $2.67 to $41.58 after the truck and engine maker reported first quarter sales fell 5.3% to $2.81 billion from $2.97 billion a year ago. Net income in the quarter fell 92.7% to $17 million or 23 cents per diluted share compared to net income of $234 million or $3.27 per share a year ago.

ReneSola Ltd ((SOL)) decreased 3.0% or 16 cents to $5.10 after the manufacturer of solar wafers reported fourth quarter revenues rose 13.4% to $179.9 million from $158.6 million a year ago. Net loss in the quarter was $19.9 million or 23 cents per ADS compared to net loss of $128.3 million or $1.86 per ADS a year ago.

Speedway Motorsports, Inc ((TRK)) declined 5.4% or 88 cents to $15.22 after the promoter and sponsor of motorsports activities reported fourth quarter revenues fell 30.7% to $90.5 million from $130.6 million a year ago. Net loss in the quarter was $15.2 million or 36 cents per diluted share compared to net loss of $4.9 million or 11 cents per share a year ago.

Vail Resorts, Inc ((MTN)) rose 0.5% or 21 cents to $37.48 after ski resort developer reported second quarter sales fell 22.7% to $300.5 million from $388.8 million a year ago. Net income in the quarter fell 32.7% to $40.7 million or $1.11 per diluted share compared to net income of $60.5 million or $1.65 per share a year ago.