11:00AM New York – Harley-Davidson, Inc led gainers in the S&P 500 index with a rise of 10.2%. AMR Corporation and Cypress Semiconductor Corporation reported narrower than expected first quarter losses. Datalink Corporation slips to loss in first quarter.

Of the stocks in S&P 500 index, 299 increased, 190 declined and 11 were unchanged.

Southwest Airlines Co led the decliners in the S&P 500 index with a loss of 10.4% followed by losses in Lincoln National Corporation with a loss of 6.7%, in State Street Corporation of 6.3%, in Equity Residential of 6.1% and in ProLogis of 4.5%.

Harley-Davidson, Inc led gainers in the S&P 500 index with a rise of 10.2% followed by gains in Amphenol Corporation of 8.3%, in Micron Technology, Inc of 8.0% and The Sherwin-Williams Company of 7.0%.

Other Movers

AMR Corporation (AMR) added 18.7% or 79 cents to $5.01 after the airline industry said first quarter revenues fell 15.0% to $4.84 billion from $5.7 billion a year ago. Net loss in the quarter was $375 million or $1.35 per diluted share compared to net loss of $341 million or $1.37 per share a year ago.

Cypress Semiconductor Corporation (CY) gained 7.6% or 56 cents to $7.89 after the semiconductor company reported first quarter revenues declined 17.2% to $139.3 million from $168.38 million a year ago. Net loss in the quarter was $90.7 million or 67 cents per diluted share compared to net loss of $23.6 million or 15 cents per share, a year ago.

Datalink Corporation (DTLK) rose 3.8% or 11 cents to $2.94 an independent information storage architect said first quarter revenues fell 16% to $39.9 million from $47.7 million a year ago. Net loss in the quarter was $596 million or 5 cents per diluted share compared to net income of $505 million or 4 cents per share a year ago.

Fairchild Semiconductor International, Inc (FCS) rose 11.7% or 56 cents to $5.31 after the analog semiconductor maker reported first quarter revenues declined 45.0% to $223 million from $406 million a year ago. Net loss in the quarter was $51 million or 41 cents per diluted share compared to net income of $17 million or 14 cents per share, a year ago.

Family Dollar Stores, Inc (FDO) rose 6% or 12 cents to $33.33 after the discount retailer reported third-quarter profit of 54 cents per share.

F5 Networks, Inc (FFIV) fell 1.0% or 27 cents to $25.91 after the maker of products that manage companies’ computer networks said it expects earnings of 37 cents to 38 cents per share, up from its prior forecast of 36 cents to 38 cents per share.

Genuine Parts Company (GPC) rose 8.4% or $2.66 to $34.11 after the automotive parts distributor reported first quarter sales slid 11% to $2.4 billion from $2.7 billion a year ago. Net income in the quarter declined 28% to $89.2 million or 56 cents per diluted share compared to net income of $123.5 million or 75 cents per share a year ago.

The Goodyear Tire & Rubber Company (GT) gained 2.1% or 19 cents to $9.15 on higher than average volume for the last one year.

Harley Davidson Inc (HOG) increased 9.75% or $1.68 to $18.81 after it reported motorcycle sales decline of 12% but nearly flat revenue of $1.29 billion and earnings fall of 37% to $117 million or 50 cents a share compared to 79 cents a share.

JPMorgan Chase & Co (JPM) climbed 3.5% or $1.14 to $33.75 after the largest bank reported first quarter revenues rose 49% to $25.0 billion from $16.8 billion a year ago. Net income in the quarter declined 9% to $2.1 billion or 40 cents per diluted share compared to net income of $2.4 billion or 67 cents per share a year ago.

Knoll, Inc (KNL) added 13.2% or 89 cents to $7.60 after the office furniture reported first quarter revenues decreased 20.6% to $212.6 million from $267.8 million a year ago. Net income in the quarter declined 45.1% to $9.5 million or 21 cents per diluted share compared to net income of $17.3 million or 36 cents per share a year ago.

Nokia Corporation (NOK) increased 11.6% or $1.57 to $14.94 after the mobile phone maker reported first quarter sales fell 27% to €9.3 billion from €12.7 billion a year ago. Net income in the quarter plummeted 90% to €122 million or €0.03 per diluted share compared to net income of €1.2 billion or €0.32 per share, a year ago.

Parker-Hannifin Corporation (PH) plunged 3.5% or $1.30 to $35.00 after the world leader in motion and control technologies reported third quarter sales declined 26.3% to $2.3 billion from $3.2 billion a year ago. Net income in the quarter declined 79.1% to $53.4 million or 33 cents per diluted share compared to net income of $255.4 million or $1.49 per share a year ago.

Stanley Furniture Company, Inc (STLY) fell 4.2% or 38 cents to $8.47 a designer and manufacturer of residential wood furniture said first quarter sales fell 36% to $39.7 million from $62.5 million a year ago. Net loss in the quarter was $2.4 million or 23 cents per diluted share compared to net income of $1 million or 10 cents per share a year ago.

Southwest Airlines Co (LUV) dropped 4.1% or 32 cents to $7.32 after the passenger airline reported first quarter revenues fell 6.8% to $2.36 billion from $2.53 billion a year ago. Net loss in the quarter was $91 million or 12 cents per diluted share compared to net income of $34 million or 5 cents per share a year ago.