Financial Engines Surges; Genpact Falls

Mayank Mehta
16 Mar, 2010
New York City

Genpact Ltd declined after shareholders plan to sell 28 million shares. Financial Engines Inc surged 39% from its initial public offering price. FactSet Reseach Systems Inc gained 3% after it reported earnings increased 4.5%. Deutsche Bank swung to a quarterly profit.

[R]12:30 PM New York – Genpact Ltd declined after shareholders plan to sell 28 million shares. Financial Engines Inc surged 39% from its initial public offering price. FactSet Reseach Systems Inc gained 3% after it reported earnings increased 4.5%. Deutsche Bank swung to a quarterly profit.[/R]

Of the stocks in S&P 500 index, 252 increased, 239 declined and 9 were unchanged.

Wyndham Worldwide Corporation led the decliners in the S&P 500 index with a loss of 2.1% followed by losses in Southwestern Energy Company of 1.9% and in CareFusion Corporation of 1.7%, in St. Jude Medical, Inc of 1.6% and in Teradata Corporation of 1.4%.

Cliffs Natural Resources Inc led gainers in the S&P 500 index with a rise of 3.5% followed by gains in American International Group, Inc 3.5%, in Boston Scientific Corporation of 3.2% and in Limited Brands, Inc 2.9%.

Other Movers

American Dairy, Inc ((ADY)) plunged 14.9% or $3.01 to $17.11 after the producer and distributor of milk powder and related dairy products reported fourth quarter sales fell 45% to $44.0 million from $79.6 million a year ago. Net loss in the quarter was to $27.0 million or $1.34 per diluted share compared to net income of $25.1 million or $1.42 per share a year ago.

athenahealth, Inc ((ATHN)) rose 7.5% or $2.82 to $40.11 after the clinical software maker reported fourth quarter sales rose 33% to $54.4 million from $40.8 million a year ago. Net income in the quarter fell 84% to $4.3 million or 12 cents per diluted share compared to net income of $26.8 million or 77 cents per share a year ago.

ArthroCare Corporation ((ARTC)) added 6.2% or $1.70 to $29.00 after the medical products maker said fourth quarter revenues rose 14.6% to $92.5 million from $80.7 million a year ago. Net income in the quarter was $7.1 million or 21 cents per diluted share compared to net loss of $29.2 million or $1.10 per share a year ago.

AVI BioPharma, Inc ((AVII)) added 4.1% or 5 cents to $1.26 after the biopharmaceutical company reported fourth quarter revenues fell 7% to $5.1 million from $5.5 million a year ago. Net income in the quarter was $3.5 million or 3 cents per diluted share compared to net loss of $1.1 million or 1 cent per share a year ago.

Benihana Inc ((BNHN)) the Japanese steakhouse chain gained 6.2% or 37 cents to $6.25 on the speculation that the company may be acquired for $7 a share.

The Cheesecake Factory Incorporated ((CAKE)) dropped 1.5% or 47 cents to $26.30 after the restaurant chain was downgraded to “underweight” from “neutral” at Piper Jaffray.

Consol Energy Inc ((CNX)) the coal and natural gas producer rose 1.1% or 55 cents to $49.40.

Corning Incorporated ((GLW)) rose 1.2% or 22 cents to $18.30 on the expectations of rising LCD flat panel sales.

Deutsche Bank AG ((DB)) rose 1.4% or $1.05 to $73.26 after the bank reported fourth quarter net interest income fell 28% to €2.72 billion from €3.76 billion a year ago. Net income in the quarter was €1.32 billion or €2.00 per diluted share compared to net loss of €4.79 billion or €8.71 per share a year ago.

DSW Inc ((DSW)) rose 0.07% or 2 cents to $29.45 after the shoe retailer reported fourth quarter sales rose 15.6% to $402.6 million from $348.2 million a year ago. Net income in the quarter was $13.4 million or 30 cents per diluted share compared to net loss of $7.5 million or 17 cents per share a year ago.

Eli Lilly and Company ((LLY)) the pharmaceutical maker fell 0.08% or 3 cents to $35.98.

Emeritus Corporation ((ESC)) fell 2.0% or 41 cents to $20.00 after the provider of assisted living and memory care services said fourth quarter revenues rose 12.3% to $229.6 million from $204.5 million a year ago. Net loss in the quarter was $15.9 million or 41 cents per diluted share compared to net loss of $30.5 million or 78 cents per share a year ago.

FactSet Research Systems Inc ((FDS)) gained 2.9% to $73.70 after it reported second quarter fiscal 2010 revenues increase of 0.5% to $157.3 million and net income increased 4.5% to $36.12 million from a year ago quarter. Earnings per share increased to 75 cents from 71 cents. The company added 150 staff in its proprietary content operations.

Financial Engines, Inc ((FNGN)) surged 39% on its first day of trading to $16.75 after it priced 10.6 million shares at $12 a share to raise $127 million. The retirement asset manager has $26 billion under management and generated $84.98 million in 2009 revenues.

Ford Motor Company ((F)) rose 0.7% or 10 cents to $13.50 and the company said it sold 93,200 new vehicles across its 19 European markets in February, an increase of 1.8% or 1,600 units from a year ago month.

Genpact Limited ((G)) fell 1.6% or 27 cents to $15.98 after the outsourcing company announced a secondary public offering of 28 million common shares. The shares are being sold by certain shareholders, consisting of affiliates of the General Electric Company, General Atlantic, Oak Hill Capital Partners and Wells Fargo & Company.

Limited Brands, Inc ((LTD)) increased 3.4% or 81 cents to $24.52 after the apparel retailer chain announced that its Board of Directors has declared a special dividend of $1 a share and has authorized a $200 million share repurchase program.

Medivation, Inc ((MDVN)) dropped 1.6% or 21 cents to $12.69 after the biotechnology company announced results from the Phase 3 CONNECTION trial in patients with mild-to-moderate Alzheimer''s disease, which did not meet any of its co-primary or secondary efficacy endpoints compared with placebo.

Medicis Pharmaceutical Corporation ((MRX)) the maker of dermatological products rose 1.1% or 31 cents to $26.48.

MDS Inc ((MDZ)) fell 0.3% or 3 cents to $8.37 after the life sciences company reported first quarter revenues fell 30.3% to $46 million from $66 million a year ago. Net loss in the quarter was $143 million or $1.19 per diluted share compared to net income of $2 million or 2 cents a share a year ago.

Microchip Technology Incorporated ((MCHP)) the maker of semiconductors added 2.1% or 59 cents to $28.43.

Seaspan Corporation ((SSW)) dropped 4.4% or 47 cents to $10.10 after the shipping company said fourth quarter revenues rose 25.3% to $78.6 million from $62.7 million a year ago. Net income in the quarter was $74.7 million or 78 cents a diluted share compared to net loss of $241.9 million or $3.63 per share a year ago.

Sequenom, Inc ((SQNM)) plunged 20.4% or $1.59 to $6.17 after the biotechnology company said fourth quarter revenues declined $10.8 million from $12.2 million a year ago.

Simcere Pharmaceutical Group ((SCR)) rose 0.2% or 2 cents to $8.87 after China based maker of branded generic pharmaceuticals reported fourth quarter revenues rose 20.7% to Rmb 539.4 million from Rmb 446.9 million a year ago. Net income in the quarter fell 65.7% to Rmb 17.7 million or Rmb 0.31 per ADS compared to net income of Rmb 51.7 million or Rmb 0.83 per ADS a year ago.

Sonic Corp ((SONC)) added 2.7% or 30 cents to $10.81 after the chain of drive-in restaurants was upgraded to “overweight” from “underweight” at Piper Jaffray.

Town Sports International Holdings, Inc ((CLUB)) rose 0.6% or 2 cents to $3.34 after the owner of New York Sports Clubs fourth quarter loss declined o on fewer one time charges.

Watson Pharmaceuticals, Inc ((WPI)) fell 0.3% or 12 cents to $40.16 after the maker of generic and urology drugs announced that its subsidiary has received approval from the Food and Drug Administration for its Abbreviated New Drug Application for Diltiazem Hydrochloride Extended-Release tablets, the generic equivalent to Biovail Laboratories International SRL''s Cardizem LA product.