CarMax, JPMorgan Rise; RiM Declines

Mayank Mehta
01 Apr, 2010
New York City

CarMax, Inc gained after it reported higher than expected sales and earnings. Global Payments Inc surged after it swung to quarterly profit. Research in Motion declined after sales growth was lower than expectations. JPMorgan may increase dividend to as high as $1 a share.

[R]12:40 PM New York – CarMax, Inc gained after it reported higher than expected sales and earnings. Global Payments Inc surged after it swung to quarterly profit. Research in Motion declined after sales growth was lower than expectations.[/R]

Of the stocks in S&P 500 index, 480 increased, 18 declined and 2 were unchanged.

C. R. Bard, Inc led the decliners in the S&P 500 index with a loss of 2.1% followed by losses in Computer Sciences Corporation of 1.2% and in Pitney Bowes Inc of 1.2%, in CareFusion Corporation of 0.6% and in CVS Caremark Corporation of 0.6%.

NetApp, Inc led gainers in the S&P 500 index with a rise of 5.2% followed by gains in Legg Mason, Inc 4.6%, in Janus Capital Group Inc of 4.5% and in Micron Technology, Inc 3.9%.

Other Movers

A. Schulman, Inc ((SHLM)) rose 0.04% or 1 cent to $24.48 after the supplier of plastic compounds and resins said second quarter sales rose 21.4% to $331.0 million from $272.6 million a year ago. Net loss in the quarter was $6.8 million or 26 cents per diluted share compared to net loss of $10.5 million or 41 cents per share a year ago.

Air Transport Services Group Inc ((ATSG)) surged 44.8% or $1.04 to $3.35 an aircraft leasing company said fourth quarter revenues fell 2.5% to $250.5 million from $257.0 million a year ago. Net income in the quarter was $11.5 million or 18 cents per diluted share compared to net loss of $64.2 million or $1.03 per share a year ago.

Alloy, Inc ((ALOY)) fell 0.9% or 8 cents to $8.20 after the provider of media and marketing programs said fourth quarter revenues rose 5% to $46.0 million from $43.8 million a year ago. Net loss in the quarter was $9.1 million or 80 cents per diluted share compared to net income of $4.3 million or 34 cents per share a year ago.

AngioDynamics, Inc ((ANGO)) rose 0.5% or 8 cents to $15.70 after the provider of medical devices said third quarter sales rose 5.7% to $52.2 million from $49.4 million a year ago. Net income in the quarter rose 73.7% to $3.3 million or 13 cents per diluted share compared to net income of $1.9 million or 8 cents per share a year ago.

AZZ incorporated ((AZZ)) fell 1.8% or 63 cents to $33.85 after the manufacturer of electrical products and a provider of galvanizing services reported fourth quarter sales fell 15.3% to $84.9 million from $100.3 million a year ago. Net income in the quarter fell 20% to $8.0 million or 64 cents per diluted share compared to net income of $10.0 million or 81 cents per share a year ago.

BlackRock, Inc ((BLK)) fell 2.6% or $5.74 to $212.02 after the money manager was downgraded to “hold” from “buy” at Deutsche Bank AG.

CarMax, Inc ((KMX)) gained 6.9% or $1.74 to $26.86 after the retailer of used cars reported fourth quarter sales rose 24.5% to $1.83 billion from $1.47 billion a year ago. Net income in the quarter rose 101% to $75.4 million or 33 cents per diluted share compared to net income of $37.5 million or 17 cents per share a year ago.

Cascade Corporation ((CASC)) rose 2.0% or 67 cents to $32.88 after the manufacturer of materials handling load engagement products said fourth quarter sales fell 15.2% to $80.6 million from $95.1 million a year ago. Net loss in the quarter was $14.4 million or $1.33 per diluted share compared to net loss of $30.5 million or $2.82 per share a year ago.

China Armco Metals, Inc ((CNAM)) the distributor of metal ores fell 1.1% or 11 cents to $9.39.

China GrenTech Corporation Limited ((GRRF)) the wireless products and services company plunged 20.5% or 79 cents to $3.06 after it reported a quarterly loss and estimated lower first quarter sales.

DemandTec, Inc ((DMAN)) rose 0.1% or 1 cent to $6.95 after the provider of on-demand optimization solutions reported fourth quarter sales rose 1.5% to $19.6 million from $19.3 million a year ago. Net loss in the quarter was $2.6 million or 9 cents per diluted share compared to net loss of $1.5 million or 6 cents per share a year ago.

The Finish Line, Inc ((FINL)) increased 6.3% or $1.04 to $17.39 after the sports apparel retailer was upgraded to “outperform” from “market perform” at FBR Capital Markets Corp.

Ford Motor Company ((F)) rose 1.7% or 22 cents to $12.79.

Global Payments Inc ((GPN)) added 3.5% or $1.63 to $47.18 after the processor of online credit card transactions said third quarter revenues rose 11% to $398.5 million from $359.5 million a year ago. Net income in the quarter was $48.5 million or 59 cents per diluted share compared to net loss of $106.8 million or $1.32 per share a year ago.

Immucor, Inc ((BLUD)) dropped 0.8% or 19 cents to $22.20 after the blood-testing products maker said third quarter sales rose 7% to $80.5 million from $75.3 million a year ago. Net income in the quarter rose 3% to $20.1 million or 28 cents per diluted share compared to net income of $19.5 million or 27 cents per share a year ago.

JPMorgan Chase & Co ((JPM)) rose 0.3% or 17 cents to $44.75 after chief executive Jamie Dimon in a letter to shareholders said that the bank may increase dividend to between 75 cents and $1 if certain conditions are met.

In addition, the bank has been mandated to expand mutual fund services provided to Nationwide Funds Group, the asset management business of Nationwide Financial Services, Inc. NFG manages $32 billion in assets in its 92 mutual funds, with approximately 265,000 shareholder accounts.



Lifeway Foods, Inc ((LWAY)) rose 0.2% or 3 cents to $11.90 after the manufacturer dairy and non-dairy food product said full year 2009 sales rose 30.5% to $58.1 million from $44.5 million a year ago. Net income for the year rose 194.7% to $5.6 million or 33 cents per diluted share compared to net income of $1.9 million or 11 cents per share a year ago.

Micron Technology, Inc ((MU)) added 2.8% or 30 cents to $10.67 after the semiconductor maker said second quarter sales rose 97.4% to $1.96 billion from $993 million a year ago. Net income in the quarter was $365 million or 39 cents per diluted share compared to net loss of $763 million or 99 cents per share a year ago.

Millicom International Cellular S.A ((MICC)) rose 1.7% or $1.60 to $90.75 after the emerging markets mobile-phone operator was upgraded to “overweight” from “neutral” at JPMorgan Chase & Co.

The Mosaic Company ((MOS)) fell 0.03% or 2 cents to $60.75 after the fertilizer maker said third quarter sales rose 25.4% to $1.73 billion from $1.38 billion a year ago. Net income in the quarter rose 278.5% to $222.6 million or 50 cents per diluted share compared to net income of $58.8 million or 13 cents per share a year ago.

Movado Group, Inc ((MOV)) fell 1.9% or 22 cents to $11.28 after the watchmaker reported fourth quarter sales fell 2% to $92.2 million from $93.9 million a year ago. Net loss in the quarter was $23.6 million or 96 cents per diluted share compared to net loss of $22.8 million or 93 cents per share a year ago.

Raytheon Company ((RTN)) fell 0.5% or 33 cents to $57.12 after the missile maker delivered an operationally significant quantity of the Miniature Air Launched Decoy to the U.S. Air Force. This delivery allows the U.S. Air Force to reach its ""required assets available"" as scheduled.

Research In Motion Limited ((RIMM)) slipped 6.0% or $4.47 to $69.50 after the maker of mobile phones said fourth quarter revenues rose 18% to $4.08 billion from $3.46 billion a year ago. Net income in the quarter rose 37% to $710.1 million or $1.27 per diluted share compared to net income of $518.3 million or 90 cents per share a year ago.

Resources Connection, Inc ((RECN)) advanced 1.4% or 28 cents to $19.42 after the professional services firm said third quarter revenues fell 19.7% to $125.3 million from $156.0 million a year ago. Net loss in the quarter was $5.0 million or 11 cents per diluted share compared to net income of $2.1 million or 5 cents per share a year ago.

Scholastic Corporation ((SCHL)) dropped 1.8% or 54 cents to $28.00 after the children’s publishing, education and media company reported third quarter revenues fell 6% to $398.8 million from $423.6 million a year ago. Net loss in the quarter was $5.6 million or 15 cents per diluted share compared to net loss of $36.0 million or 98 cents per share a year ago.

SkillSoft Public Limited Company ((SKIL)) gained 7.6% or 79 cents to $11.11 after the maker of employee-training software announced that it has reached agreement on the terms of a revised recommended acquisition for cash by SSI Investments III Limited for the increased price of $11.25 per SkillSoft share.

Waddell & Reed Financial, Inc ((WDR)) added 3.3% or $1.22 to $37.23 after the money manager was upgraded to “buy” from “hold” at Citigroup.

Worthington Industries, Inc ((WOR)) fell 0.06% or 1 cent to $17.28 after the metal processing company reported third quarter sales fell 10% to $451.1 million from $501.1 million a year ago. Net loss in the quarter was $17.7 million or 22 cents per diluted share compared to net income of $1.6 million or 2 cents per share a year ago.

Xyratex Ltd ((XRTX)) surged 10.6% or $1.81 to $18.74 after the data storage technology provider said first quarter revenues rose 73.5% to $319.0 million from $183.9 million a year ago. Net income in the quarter was $26.3 million or 85 cents per diluted share compared to net loss of $16.1 million or 55 cents per share a year ago.