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Market Update : 
Las Vegas Sands Plunges, Whole Foods Gains
Author: 123jump.com Staff
123jump.com
Last Update: 1:48 PM ET November 06 2008



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1:40 PM, New York – Las Vegas Sands plunged on loan default and bankruptcy filing possibilities. Whole Foods rose after earnings and capital injection from a private equity fund. Toyota Motor dropped after it lowered earnings outlook.

Churchill Downs Inc (CHDN) fell 7.4% or $2.90 to $36.07 after the owner and operator of pari-mutuel wagering properties and businesses said third quarter revenues fell 4% to $99.6 million from $103.9 million a year ago. Net income in the quarter rose 212.5% to $2.5 million or 18 cents per diluted share compared to net income of $0.8 million or 6 cents per share, a year ago.

Cisco Systems, Inc (CSCO) lost 5.1% or 94 cents to $17.39 after the world''s largest maker of computer networking gear said first quarter sales rose 8% to $10.3 billion from $9.6 billion a year ago. Net income in the quarter fell 0.2% to $2.2 billion or 37 cents per diluted share compared to net income of $2.2 billion or 35 cents per share, a year ago.

Cogent, Inc (COGT) slid 4.4% or 41 cents to $8.91 after the global biometric identification solutions provider said third quarter revenues rose 56% to $35 million from $22.5 million a year ago. Net income in the quarter rose 197% to $12 million or 13 cents per diluted share compared to net income of $4.1 million or 4 cents per share, a year ago.

Cott Corporation (COT) fell 16.9% or 22 cents to $1.08 after the world''s largest retailer brand soft drink provider reported third quarter revenues fell 9.5% to $420.5 million from $464.5 million a year ago. Net loss in the quarter was $87.6 million or $1.25 per diluted share compared to net loss of $5.8 million or 8 cents per share, a year ago.

Drugstore.com, Inc (DSCM) fell 15.1% or 28 cents to $1.57 after the online provider of health, beauty, vision, and pharmacy products said third quarter sales rose 8.5% to $87.8 million from $80.9 million a year ago. Net loss in the quarter was $3.6 million or 4 cents per diluted share compared to net loss of $2.4 million or 2 cents per share, a year ago.

Dolan Media Company (DM) dropped 32.6% or $1.36 to $2.81 after the provider of business information and professional services to the legal, financial and real estate sectors in the United States reported third quarter revenues rose 24.9% to $47.9 million from $38.3 million a year ago. Net income in the quarter was $2.45 million or 9 cents per diluted share compared to net loss of $7.52 million or 38 cents per share, a year ago.

Eagle Bulk Shipping Inc (EGLE) decreased 8.5% or 94 cents to $10.04 after the bulk ocean carrier said third quarter revenues rose 52% to $51.6 million from $33.9 million a year ago. Net income in the quarter rose 50% to $23.2 million or 49 cents per diluted share compared to net income of $15.5 million or 37 cents per share, a year ago.

Kinross Gold Corporation (KGC) dropped 6.6% or 85 cents to $12.00 after the gold miner said third quarter revenues rose 83% to $503.7 million from $275.8 million a year ago. Net income in the quarter rose 64% to $64.7 million or 10 cents per diluted share compared to net income of $39.4 million or 7 cents per share, a year ago.

Las Vegas Sands Corp (LVS) dropped $3.48 or 30% to $8.20 after it said that it may be in loan covenant violation if it fails to raise capital and may threaten its ability to continue as a “going concern.” The company is in the midst of building first ever casino in Singapore and expand its casinos in Macau, China.

McDermott International, Inc (MDR) slid 9.9% or $1.72 to $15.56 after the energy infrastructure construction company said third quarter revenues rose 26% to $1.66 billion from $1.32 billion a year ago. Net income in the quarter fell 39% to $85.6 million or 37 cents per diluted share compared to net income of $140.4 million or 61 cents per share, a year ago.

Ternium S.A (TX) decreased 10.0% or 94 cents to $8.40 after the steel company in the Americas said third quarter revenues rose 62% to $2.4 billion from $1.5 billion a year ago. Net income in the quarter rose 15% to $247.1 million or $1.06 per ADS share compared to net income of $214 million or 80 cents per ADS share, a year ago.

Toyota Motor Corporation (TM) plunged 18% or $14.17 to $66.06 after it reported weak earnings offered weaker annual earnings outlook for the fiscal 2009.

Vulcan Materials Company (VMC) lost 4.5% or $2.71 to $56.30 after the manufacturer of construction aggregates and other construction materials said third quarter revenues rose 12% to $1.01 billion from $904.9 million a year ago. Net income in the quarter fell 56% to $59.05 million or 53 cents per share compared to net income of $135.4 million or $1.38 per share, a year ago.

Whole Foods Market Inc (WFMI) rose 59 cents to $10.91 after it reported earnings. The company sold preferred stocks for 17% of the company to Leonard Green & Partners LP in exchange of $425 million. Same store sales growth in the fourth quarter declined to 0.4% from 8.2%.

ZipRealty, Inc (ZIPR) fell 5.4% or 15 cents to $2.60 after the full-service residential real estate brokerage firm said third quarter revenues rose 11.9% to $31.4 million from $28.0 million a year ago. Net loss in the quarter was $1.7 million or 8 cents per share compared to net loss of $4.8 million or 21 cents per share, a year ago.


$11.54
5.39%
$9.73
-3.18%
$20.12
-1.18%
$56.29
-2.43%
$53.53
0.49%
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Market data: BATS Exchange. Inc.

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