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Market Update : 
In Focus: Chico's, Autodesk, Longtop
Author: Mayank Mehta
123jump.com
Last Update: 12:33 PM ET November 18 2009


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MBIA Inc led gainers in the S&P 500 index with a rise of 7.2%. Autodesk increases profitability in third quarter fiscal 2010. BJ’s Wholesale Club third quarter net income tumbles 37%. La-Z-Boy Incorporated swings to second quarter profit. Chico''s FAS, Inc. comparable store sales increased 12.8%.

 
Solarfun Power Holdings Co., Ltd (SOLF) rose 7.2% or 42 cents to $6.25 after manufacturer of silicon ingots, wafers and photovoltaic cells reported third quarter revenues fell 22.3% to Rmb 986.8 million from Rmb 1.27 billion a year ago. Net income in the quarter was Rmb 136.6 million or Rmb 2.53 per ADS compared to net loss of Rmb 44.3 million or Rmb 0.86 per ADS a year ago.

VIVUS, Inc (VVUS) climbed 5.1% or 44 cents to $9.01 after the biotech company announced positive results from REVIVE, a phase 3 pivotal study evaluating the safety and efficacy of avanafil, an investigational drug candidate for the treatment of erectile dysfunction, in 646 patients.

Western Digital Corporation (WDC) declined 2.1% or 74 cents to $38.35 after the maker of hard-disk drives was downgraded to “underperform” from “buy” at Bank of America Corp.




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