1:50AM New York – KeyCorp led the decliners in the S&P 500 index with a loss of 8.0%. AT&T Inc first quarter profit falls. Capital One Financial Corporation first quarter sales fall. SanDisk Corporation shares jump on sales rebound.

Of the stocks in S&P 500 index, 108 increased, 388 declined and 4 were unchanged.

KeyCorp led the decliners in the S&P 500 index with a loss of 8.0% followed by losses in Equity Residential with a loss of 6.9%, in Prudential Financial, Inc of 6.1%, in Altera Corporation of 5.9% and in MBIA Inc of 5.4%.

Ford Motor Company led gainers in the S&P 500 index with a rise of 11.3% followed by gains in International Paper Company of 9.9%, in SanDisk Corporation of 9.2% and C.H. Robinson Worldwide, Inc of 7.6%.

Other Movers

Advanced Micro Devices, Inc (AMD) lost 4.7% or 16 cents to $3.20 after the semiconductor company said first quarter revenues fell 20% to $1.2 billion from $1.5 billion a year ago. Net loss in the quarter was $416 million or 66 cents per diluted share compared to net loss of $364 million or 60 cents per share, a year ago.

AT&T Inc (T) rose 4.3% or $1.11 to $26.39 after the country's biggest telecommunications carrier reported first quarter revenues fell 0.3% to $30.6 billion from $30.7 billion a year ago. Net income in the quarter fell 11.4% to $3.1 billion or 53 cents per diluted share compared to net income of $3.5 billion or 57 cents per share, a year ago.

The Boeing Company (BA) rose 2.4% or 84 cents to $37.49 after the aerospace giant reported first quarter revenues rose 3% to $16.5 billion from $16 billion a year ago. Net income in the quarter fell 50% to $610 million or 86 cents per diluted share compared to net income of $1.21 billion or $1.62 per share, a year ago.

Capital One Financial Corporation (COF) dropped 7.2% or $1.09 to $13.96 after the credit card company said first quarter revenues fell 26% to $2.88 billion from $3.87 billion a year ago. Net loss in the quarter was $176.1 million or 45 cents per diluted share compared to net income of $548.5 million or $1.47 per share, a year ago.

Harleysville Group Inc (HGIC) added 2.5% or 75 cents to $30.58 an insurance company said first quarter revenues fell 5.7% to $246.9 million from $261.9 million a year ago. Net income in the quarter fell 28% to $17.3 million or 61 cents per diluted share compared to net income of $24.1 million or 79 cents per share, a year ago.

Illumina, Inc (ILMN) fell 3.6% or $1.36 to $35.80 after the genetic analysis company said first quarter revenues rose 36% to $165.8 million from $121.9 million a year ago. Net income in the quarter rose 76% to $18.8 million or 14 cents per diluted share compared to net income of $10.7 million or 8 cents per share, a year ago.

iGATE Corporation (IGTE) fell 2.6% or 3 cents to $3.38 after an integrated technology and operations company reported first quarter revenues fell 19% to $44.8 million from $55.6 million a year ago. Net income in the quarter fell 32% to $5.0 million or 9 cents per diluted share compared to net income of $7.4 million or 12 cents per share, a year ago.

Ingersoll-Rand Company Limited (IR) rose 11.0% or $1.84 to $18.57 after the diversified industrial manufacturer reported first quarter revenues rose 35.6% to $2.93 billion from $2.16 billion a year ago. Net loss in the quarter was $26.7 million or 8 cents per diluted share compared to net income of $181.6 million or 66 cents per share, a year ago.

Las Vegas Sands Corp (LVS) surged 13% or 65 cents to $5.68 after it amended its terms of senior secured loans of $5 billion issued on May 23, 2007. The amendment terms also allows the company to repurchase up to $800 million of term loans before the end of September 2010 and minimum of $25 million.

Morgan Stanley (MS) fell 3.0% or 76 cents to $24.20 after the New York based bank reported first quarter revenues fell 62% to $3.0 billion from $7.9 billion a year ago. Net loss in the quarter was $578 million or 57 cents per diluted share compared to net income of $1.3 billion or $1.26 per share, a year ago.

Nabors Industries Limited (NBR) climbed 8.8% or $1.18 to $14.59 after the Bermuda-based oil and gas drilling company said first quarter revenues fell 14% to $1.14 billion from $1.32 billion a year ago. Net income in the quarter fell 41% to $125.2 million or 44 cents per diluted share compared to net income of $212 million or 74 cents per share, a year ago.

P.F. Chang’s China Bistro (PFCB) surged 25% to after it reported revenue increase of less than 2% to $309.84 million and net income of $13.35 million compared to $9.6 million. Earnings per share increased to 56 cents from 40 cents.

Comparable store sales at the Bistro declined 6.6% during the first quarter with decreases of 4.8%, 7.0%, and 8.5% in January, February and March, respectively. Comparable store sales at Pei Wei declined 2.2% during the first quarter with decreases of 4.1% and 2.5% in January and February, respectively, and an increase of 0.3% in March.

The company guided total 2009 revenues increase of between 1% and 2% and comparable sales at Bistro to decline between 6% and 7% and at Pei Wei to fall between 4% and 5%. However, lower operating costs are likely to improve earnings per share from continuing operations to be between $1.40 and $1.50.

SanDisk Corporation (SNDK) gained 9.7% or $1.33 to $15.04 after the world’s largest supplier of flash storage cards said first quarter revenues fell 23% to $659.5 million from $850 million a year ago. Net loss in the quarter was $208 million or 92 cents per diluted share compared to net income of $11 million or 5 cents per share, a year ago.