Tenet, Health Management Rise; Tiffany Falls

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

Tenet Healthcare Corporation led gainers in the S&P 500 index with a rise of 7% after the passage of landmark healthcare bill. Drug makers traded higher and health insurers are mixed. Consol Energy Inc. enters into agreement with CNX Gas shareholder.

[R]12:50 PM New York – Tenet Healthcare Corporation led gainers in the S&P 500 index with a rise of 7% after the passage of landmark healthcare bill. Drug makers traded higher and health insurers are mixed. Consol Energy Inc. enters into agreement with CNX Gas shareholder.[/R]

Of the stocks in S&P 500 index, 133 increased, 360 declined and 7 were unchanged.

E*Trade Financial Corporation led the decliners in the S&P 500 index with a loss of 4.4% followed by losses in Tiffany & Co of 4.3% and in American International Group, Inc of 3.7%, in First Solar, Inc of 3.4% and in Consol Energy Inc of 3.3%.

Tenet Healthcare Corporation led gainers in the S&P 500 index with a rise of 6.9% followed by gains in Novell, Inc 5.3%, in Genuine Parts Company of 3.9% and in St. Jude Medical, Inc 2.2%.

Other Movers

The Boeing Company ((BA)) added 0.7% or 54 cents to $71.26 after the aeroplane maker and defense contractor was upgraded to “outperform” from “underperform” at Oppenheimer & Co.

Citigroup Inc ((C)) fell 0.2% or 1 cent to $3.89.

Consol Energy Inc ((CNX)) decreased 1.2% or 55 cents to $45.00 after the coal and natural gas producer announced today to acquire 38% of CNX Gas or 9.5 million shares that it does not own.

Under the agreement, Consol Energy has agreed, subject to certain conditions, to commence a tender offer by May 5, 2010 to acquire all of the shares of CNX Gas common stock that it does not currently own at a price of $38.25, in cash a share.

Cooper Tire & Rubber Company ((CTB)) the tiremaker increased 4.8% or 96 cents to $20.97.

China TransInfo Technology Corp ((CTFO)) added 6.1% or 49 cents to $8.52 after the provider of public transportation information systems technology said fourth quarter revenues rose 165.4% to $28.4 million from $10.7 million a year ago. Net income in the quarter rose 17% to $4.8 million or 21 cents per diluted share compared to net income of $4.1 million or 20 cents per share a year ago.

Ensco International plc ((ESV)) fell 0.6% or 28 cents to $43.01 after the oil driller announced today that subsidiaries of the company have sold two drilling rigs.

GameStop Corp ((GME)) the video-game retailer rose 1.9% or 41 cents to $21.52.

Hasbro, Inc ((HAS)) the toymaker rose 0.1% or 6 cents to $37.95.

Halozyme Therapeutics, Inc ((HALO)) increased 5.4% or 44 cents to $8.49 after the biopharmaceutical company was upgraded to “buy” from “hold” at Brean Murray & Co.

Jefferies Group, Inc ((JEF)) dropped 2.6% or 69 cents to $25.11 after the broker was downgraded to “sell” from “neutral” at Ticonderoga Securities LLC.

Lockheed Marin Corporation ((LMT)) fell 0.9% or 83 cents to $86.07 after the defense contractor was downgraded to “perform” from “outperform” at Oppenheimer.

Medtronic, Inc ((MDT)) rose 0.1% or 7 cents to $44.86 after the maker of heart-rhythm devices announced that the U.S. Food and Drug Administration panel voted unanimously in favor of approval with conditions its pacemaker device for use in Magnetic Resonance Imaging (MRI) systems under specified conditions.

Novell, Inc ((NOVL)) gained 4.6% or 26 cents to $5.90 after the maker of Linux operating-system software rejected the unsolicited, conditional proposal from Elliott Associates, L.P. for $5.75 per share in cash as “inadequate” and “undervalues” the company.

Officemax Incorporated ((OMX)) dropped 3.0% or 51 cents to $16.22 after the office supply retailer was downgraded to “neutral” from “buy” at Goldman Sachs Group Inc.

The Ryland Group, Inc ((RYL)) fell 2.0% or 49 cents to $22.95 after the homebuilder was downgraded to “market perform” from “outperform” at Wells Fargo & Co.

SandRidge Energy, Inc ((SD)) the producer of natural gas rose 2.0% or 15 cents to $7.59.

Sonus Networks, Inc ((SONS)) the maker of voice infrastructure products rose 3.9% or 10 cents to $2.66.

St. Jude Medical, Inc ((STJ)) rose 1.9% or 76 cents to $40.17 after the medical devices maker was upgraded to “buy” from “hold” at Lazard.

Tiffany & Co ((TIF)) fell 4.9% or $2.40 to $44.85 after the jeweler retailer said fourth quarter sales rose 17% to $981.4 million from $837.6 million a year ago. Net income in the quarter rose 351.4% to $140.4 million or $1.10 per diluted share compared to net income of $31.1 million or 25 cents per share a year ago.

Williams-Sonoma, Inc ((WSM)) increased 4.1% or $1.1 to $25.05 after the specialty retailer of home products said fourth quarter sales rose 8% to $1.09 billion from $1.01 billion a year ago. Net income in the quarter rose 624.5% to $88.4 million or 81 cents per diluted share compared to net income of $12.2 million or 12 cents per share a year ago.