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Market Update : 
CIT Soars 24%, Oil Surges $3, Stocks Down
Author: 123jump.com Staff
123jump.com
Last Update: 10:15 AM EDT July 01 2008


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U.S. stocks struggle in the morning trading after crude oil increases $3 to $143 a barrel. The talks of possible military strike on Iranian installation lifted prices of oil and gold. U.S. stock fell as talks of lower than estimated earnings for the second quarter dominate trading. CIT soars 24% after it agreed to sell its home lending unit and record a pre-tax loss of $2.5 billion. Asian markets closed lower with India losing 3.7%.

 
Hartmarx Corporation (HMX: chart) in the last one year traded as high as $8.69 in July 2007 and as low as $1.97 in January 2008. Based on the yesterday’s closing price the company has a market cap of $77.00 million.

Mad Catz Interactive, Inc, an interactive entertainment accessory provider said fourth quarter sales increased 13.2% to $21.9 million from $19.3 million a year ago. Net loss in the quarter was $0.8 million or 2 cents per diluted share compared to net income of $0.7 million or 1 cent per share, a year ago.

Net sales for the fiscal year ended March 31, 2008 were $87.6 million, a 12.2% decrease from $99.7 million in fiscal 2007. Net income for the year ended March 31, 2008 was $3.2 million, or $0.06 per diluted share, compared to $3.7 million, or $0.07 per diluted share for the year ended March 31, 2007.

Mad Catz Interactive, Inc (MCZ: chart) in the last one year traded as high as $1.50 in July 2007 and as low as $0.55 in April 2008. Based on the yesterday’s closing price the company has a market cap of $32.43 million.

Michael Baker Corporation provides engineering and energy services to public and private sector clients’ worldwide said fourth quarter revenues increased 10% to $195.9 million from $176.4 million a year ago. Net income in the quarter declined 15% to $7.1 million or 80 cents per diluted share compared to net income of $8.4 million or 98 cents per share, a year ago.

For 2007, the Company reported net income of $19.3 million, or $2.18 per diluted common share, on revenues of $727 million, compared to restated net income of $10.3 million, or $1.19 per diluted common share, on revenues of $647 million in 2006.

Michael Baker Corporation (BKR: chart) in the last one year traded as high as $53.22 in October 2007 and as low as $19.36 in May 2008. Based on the yesterday’s closing price the company has a market cap of $193.56 million.

Constellation Brands, Inc, the alcohol beverage distributor reported first quarter sales increased 2.47% to $1.21 billion from $1.18 billion a year ago. Net income in the quarter increased 33.18% to $44.6 million or 19 cents per diluted share compared to net income of $29.8 million or 12 cents per share, a year ago.

Constellation Brands, Inc (STZ: chart) in the last one year traded as high as $26.46 in June 2007 and as low as $17.21 in March 2008. Based on the yesterday’s closing price the company has a market cap of $4.32 billion.

MSC Industrial Direct Co., Inc, a distributor of maintenance supplies to industrial customers reported third quarter sales rose 6.1% to $457.2 million from $431.1 million a year ago. Net income in the quarter increased 12.3% to $51.4 million or 81 cents per diluted share compared to net income of $45.8 million or 69 cents per share, a year ago.

MSC Industrial Direct Co., Inc (MSM: chart) in the last one year traded as high as $57.73 in July 2007 and as low as $34.39 in January 2008. Based on the yesterday’s closing price the company has a market cap of $2.79 billion.

Schnitzer Steel Industries, Inc, a metal recycler reported third quarter revenues increased 37% to $972 million from $709 million a year ago. Net income in the quarter increased 29.03% to $62 million or $2.14 per diluted share compared to net income of $44 million or $1.47 per share, a year ago.

Schnitzer Steel Industries, Inc (SCHN: chart) in the last one year traded as high as $117.50 in June 2008 and as low as $45.10 in June 2007. Based on the yesterday’s closing price the company has a market cap of $3.22 billion.

Standard Microsystems Corporation designs and sells a variety of silicon-based integrated circuits reported first quarter revenues increased 13.8% to $92.8 million from $81.5 million a year ago. Net income in the quarter increased 29% to $4.5 million or 20 cents per diluted share compared to net income of $3.2 million or 14 cents per share, a year ago.

Standard Microsystems Corporation (SMSC: chart) in the last one year traded as high as $39.95 in October 2007 and as low as $26.50 in March 2008. Based on the yesterday’s closing price the company has a market cap of $610.05 million.
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