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Market Update : 
Apple, United Technologies, Kroger Rise
Author: 123jump.com Staff
123jump.com
Last Update: 11:56 AM ET March 10 2009


 
11:45AM New York – Lincoln National Corporation led gainers in the S&P 500 index with a rise of 26.9%. AeroVironment, Inc third quarter net down 25%. Casey’s General Stores, Inc third quarter sales fell 26.4%. The Kroger Co profits rise 8% in fourth quarter.

Of the stocks in S&P 500 index, 482 increased, 17 declined and 1 were unchanged.

Johnson Controls, Inc led the decliners in the S&P 500 index with a loss of 11.5% followed by losses in Omnicom Group Inc of 2.5%, in Gannett Co., Inc of 2.0%, in Newmont Mining Corporation of 1.3%, in Republic Services, Inc of 1.1%.

Lincoln National Corporation led gainers in the S&P 500 index with a rise of 26.9% followed by gains in Office Depot, Inc of 25.4%, in Citigroup Inc of 23.8% and Genworth Financial, Inc of 17.5%.

Other Movers

Apple Inc (AAPL) climbed 4.6% or $3.89 to $87.00 after the maker of Macintosh computers and the iPhone is planning to launch a netbook computer with a touch screen monitor as early as the second half of this year according to Dow Jones Newswires.

AeroVironment, Inc (AVAV) decreased 27.5% or $8.43 to $22.15 after the maker of unmanned aircraft systems said third quarter revenues rose 8% to $52.2 million from $48.5 million a year ago. Net income in the quarter fell 25% to $4.5 million or 21 cents per diluted share compared to net income of $6 million or 28 cents per share a year ago.

A. M. Castle & Co (CAS) jumped 28.6% or $1.54 to $6.94 after the specialty metals and plastics distribution company reported fourth quarter sales fell 0.2% to $321.5 million from $322.1 million a year ago. Net loss in the quarter was $53.6 million or $2.37 per diluted share compared to net income of $6.7 million or 29 cents per share a year ago.

Casey’s General Stores, Inc (CASY) added 3.8% or $19.60 after the convenience store operator said third quarter revenues fell 26.4% to $848.8 million from $1.15 billion a year ago. Net income in the quarter rose 8% to $14 million or 28 cents per diluted share compared to net income of $13 million or 26 cents per share a year ago.

Comtech Telecommunications Corp (CMTL) lost 42.3% or $15.02 to $20.43 after the communications equipment maker said second quarter revenues fell 5.4% to $143.9 million from $152 million a year ago. Net income in the quarter fell 50% to $12.8 million or 46 cents per diluted share compared to net income of $25.5 million or 91 cents per share a year ago.

Dick’s Sporting Goods, Inc (DKS) gained 5.4% or 56 cents to $11.48 after the full line sporting goods retailer reported fourth quarter sales fell 0.4% to $1.20 billion from $1.21 billion a year ago. Net loss in the quarter was $104.4 million or 93 cents per diluted share compared to net income of $73.2 million or 62 cents per share a year ago.

The Dow Chemical Company (DOW) fell 5.2% or 0.02 cents to $6.35 after the largest U.S. chemical maker said that the company reached a tentative deal to complete its disputed $15 billion buyout of Rohm & Haas Co.

Evans & Sutherland Computer Corporation (ESCC) slid 36.7% or 0.07 cents to $0.120 after the world’s first computer graphics company reported fourth quarter sales rose 35% to $11.6 million from $8.6 million a year ago. Net loss in the quarter was $0.3 million or 3 cents per diluted share compared to net loss of $0.9 million or 8 cents per share a year ago.

JA Solar Holdings Co., Ltd (JASO) rose 4.3% or 9 cents to $2.16 after the manufacturer of high performance solar product reported fourth quarter revenues fell 6.9% to Rmb 979.0 million from Rmb 1.1 billion a year ago. Net income in the quarter rose 51.4% to Rmb 148.8 million or Rmb 0.68 per diluted share compared to net income of Rmb 98.3 million or Rmb 0.64 per share a year ago.

Kinross Gold Corporation (KGC) the engaged in gold mining and related activities lost 5.0% or 79 cents to $14.90.

The Kroger Co (KR) climbed 5.3% or $1.04 to $20.50 after the nation''s largest independent grocery chains reported fourth quarter sales rose 0.6% to $17.3 billion from $17.2 billion a year ago. Net income in the quarter rose 8% to $349.2 million or 53 cents per diluted share compared to net income of $322.9 million or 48 cents per share a year ago.

Palm, Inc (PALM) rose 9.9% or 60 cents to $6.62 after the maker of the Treo and Centro mobile phones boosted a public stock offering to 23.1 million shares and priced the stock at $6 per share.

Rambus Inc (RMBS) jumped 8.6% or 68 cents to $8.60 after the intellectual property developer for communication chips agreed to a $379 million settlement with Hynix Semiconductor Inc. in a patent dispute that has dragged on nearly a decade.

Texas Instruments Incorporated (TXN) rose 5.1% or 75 cents to $15.44 after the second-largest U.S. chipmaker tightened its quarterly revenue forecast to between $1.79 billion and $2.05 billion from a previous range of $1.62 billion to $2.12 billion.

United Technologies Corporation (UTX) rose 6.1% or $2.30 to $39.86 after the maker of Otis elevators and Carrier air conditioners lowered its 2009 profit forecast on Tuesday and said it expects to cut 11,600 jobs because of a deteriorating commercial aerospace market.


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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

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