Potash, Mosaic, Clear Channel Outdoor Surge

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

Potash Corp of Saskatchewan surged after it lifted first quarter earnings estimate as much as 50%. Yara International left its bid for Terra Industries unrevised. Aeropostale gained after fourth quarter sales increased 16%. AnnTaylor Stores declined on lower quarterly sales.

[R]11:00AM New York – Potash Corp of Saskatchewan surged after it lifted first quarter earnings estimate as much as 50%. Yara International left its bid for Terra Industries unrevised. Aeropostale gained after fourth quarter sales increased 16%. AnnTaylor Stores declined on lower quarterly sales.[/R]

Of the stocks in S&P 500 index, 301 increased, 184 declined and 15 were unchanged.

Pall Corporation led the decliners in the S&P 500 index with a loss of 3.9% followed by losses in CF Industries Holdings, Inc of 3.4% and in Citigroup Inc of 3.3%, in NRG Energy, Inc of 2.8% and in SLM Corporation of 2.4%.

Cliffs Natural Resources Inc led gainers in the S&P 500 index with a rise of 3.6% followed by gains in Micron Technology, Inc 2.9%, in Huntington Bancshares Incorporated of 2.2% and in The Goodyear Tire & Rubber Company 2.2%.

Other Movers

Abbott Laboratories ((ABT)) fell 1.8% or $1.05 to $54.49 after the maker of the arthritis medicine Humira was downgraded to “sell” from “hold” at Citigroup Inc.

Aeropostale, Inc ((ARO)) added 3.8% or $1.04 to $28.09 after the teen clothing retailer said fourth quarter sales increased 16% to $801.2 million from $690.0 million a year ago.

Air Methods Corporation ((AIRM)) decreased 3.4% or 96 cents to $26.78 after the provider of emergency medical air transportation said fourth quarter revenues rose 1% to $120.2 million from $118.9 million a year ago. Net income in the quarter fell 27% to $2.7 million or 22 cents per diluted share compared to net income of $3.7 million or 30 cents per share a year ago.

AnnTaylor Stores Corporation ((ANN)) dropped 2.8% or 55 cents to $18.90 after the women''s clothing retailer reported fourth quarter sales fell 3% to $469.1 million from $483.4 million a year ago. Net income in the quarter was $41,000 or break even per diluted share compared to net loss of $375.6 million or $6.66 per share a year ago.

Arena Pharmaceuticals, Inc ((ARNA)) decreased 0.3% or 1 cent to $3.10 after the biopharmaceutical company reported fourth quarter revenues were flat at $2.7 million. Net loss in the quarter was $29.7 million or 32 cents per diluted share compared to net loss of $62.5 million or 84 cents per share a year ago.

CF Industries Holdings, Inc ((CF)) dropped 4.5% or $4.61 to $96.00 after Norway based Yara International ASA did not revise the competing offer to acquire Terra Industries. CF has offered $4.7 billion to acquire Terra and Yara had offered $4.1 billion.

Clear Channel Outdoor Holdings, Inc ((CCO)) added 1.3% or 14 cents to $10.72 an outdoor advertising company said fourth quarter revenues fell 3% to $763.1 million from $785.5 million a year ago. Net loss in the quarter was $56.8 million or 18 cents per diluted share compared to net loss of $3.0 billion or $8.53 per share a year ago.

Citi Trends, Inc ((CTRN)) increased 5.3% or $1.61 to $31.55 after the clothing retailer reported fourth quarter sales rose 16% to $169.8 million from $146.6 million a year ago. Net income in the quarter rose 12% to $11.3 million or 78 cents per diluted share compared to net income of $10.1 million or 69 cents per share a year ago.

Eli Lilly and Company ((LLY)) fell 0.06% or 3 cents to $35.80 after the drugmaker was upgraded new “buy” at Jefferies & Co.

Hibbett Sports, Inc ((HIBB)) gained 6.2% or $1.54 to $26.25 after the sporting goods retailer reported fourth quarter sales rose 13% to $166.8 million from $147.9 million a year ago. Net income in the quarter rose 55% to $11.8 million or 40 cents per diluted share compared to net income of $7.6 million or 26 cents per share a year ago.

H&R Block, Inc ((HRB)) the tax preparation services provider rose 0.2% or 4 cents to $16.90.

Kirkland’s, Inc ((KIRK)) increased 5.8% or $1.14 to $20.65 after the specialty retailer of home décor reported fourth quarter sales rose 7% to $142.8 million from $133.6 million a year ago. Net income in the quarter rose 47.3% to $22.1 million or $1.08 per diluted share compared to net income of $15.0 million or 76 cents per share a year ago.

LDK Solar Co., Ltd ((LDK)) rose 2.1% or 15 cents to $7.10 after the Chinese manufacturer of wafers used in solar-power cells announced that Munich Re''s Special Enterprise Risk unit''s new insurance solution will cover the performance warranty of its photovoltaic modules.

Monsanto Company ((MON)) the provider of agricultural products for farmers rose 1.5% or $1.09 to $72.70 after positive comments from Potash Corp of Saskatchewan.

The Mosaic Company ((MOS)) the global agriculture industry gained 5.2% or $3.17 to $63.10.

National Semiconductor Corporation ((NSM)) gained 4.6% or 66 cents to $15.00 after the maker of chips that control power in electronic devices said third quarter sales rose 5% to $362 million.

NRG Energy, Inc ((NRG)) dropped 3.2% or 75 cents to $22.16 after the power producer was downgraded to “neutral” from “buy” at Bank of America Corp.

Pacific Sunwear of California, Inc ((PSUN)) plunged 13.0% or 75 cents to $5.00 after the clothing chain said fourth quarter sales fell 17% to $292.6 million from $351.7 million a year ago. Net loss in the quarter was $36.5 million or 56 cents per diluted share compared to net loss of $27.0 million or 42 cents per share a year ago.

Pall Corporation ((PLL)) fell 4.1% or $1.70 to $40.84 after the producer of filters for drugmakers and refineries said second quarter sales increased 3.2% to $560.4 million from $543.2 million a year ago.

Pfizer Inc ((PFE)) fell 0.2% or 5 cents to $17.24 after the drugmaker announced today the discontinuation of A4021018, a Phase 3 trial drug to treat lung cancer.

Potash Corp of Saskatchewan ((POT)) surged 7.8% to $125.64 after it revised its first quarter earnings per share between $1.30 and $1.50 from the previous estimate of 70 cents and $1.00.

QAD Inc ((QADI)) dropped 1.6% or 9 cents to $5.53 after the provider of enterprise software and services said fourth quarter revenues fell 10% to $52.7 million from $58.6 million a year ago. Net income in the quarter was $685,000 or 2 cents per diluted share compared to net loss of $19.7 million or 64 cents per share a year ago.

Quiksilver, Inc ((ZQK)) fell 7.9% or 27 cents to $3.11 after the maker of surf-style clothes said first quarter revenues fell 2.4% to $432.7 million from $443.3 million a year ago. Net loss in the quarter was $5.4 million or 4 cents per diluted share compared to net loss of $194.4 million or $1.53 per share a year ago.

Raven Industries, Inc ((RAVN)) declined 1.6% or 52 cents to $30.58 after the maker of agricultural products said fourth quarter sales fell 7% to $55.8 million from $59.9 million a year ago. Net income in the quarter rose 23.4% to $5.8 million or 32 cents per diluted share compared to net income of $4.7 million or 26 cents per share a year ago.

RF Micro Devices, Inc ((RFMD)) the maker of semiconductor products increased 4.4% or 21 cents to $4.94.

Southern Copper Corporation ((SCCO)) rose 1.9% or 60 cents to $31.82 after the copper miner and smelter in Peru was upgraded to “buy” from “hold” at Deutsche Bank.

Ulta Salon, Cosmetics & Fragrance, Inc ((ULTA)) fell 0.1% or 4 cents to $21.50 after the beauty products retailer said net income increased 64.6% to $20.2 million or 34 cents per diluted share compared to $12.3 million or 21 cents per share a year ago.

XOMA Ltd ((XOMA)) gained 8.9% or 5 cents to $0.609 after the biopharmaceutical company said fourth quarter revenues fell 41.5% to $21.6 million from $36.9 million a year ago. Net income in the quarter fell 70% to $3.0 million or 1 cent per diluted share compared to net income of $10.0 million or 7 cents per share a year ago.