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Market Update : 
Pep Boys, Texas Instruments Rise
Author: Mayank Mehta
123jump.com
Last Update: 12:09 PM ET June 09 2009



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11:45AM New York – Texas Instruments led gainers in the S&P 500 index with a rise of 6.6%. Blyth, Inc first quarter profit rises. Pall Corp reports third quarter net earnings of $44.2 million. Titan Machinery Inc first quarter profit falls.

Of the stocks in S&P 500 index, 376 increased, 119 declined and 5 were unchanged.

Harley-Davidson, Inc led the decliners in the S&P 500 index with a loss of 7.8% followed by losses in Jabil Circuit, Inc of 7.1%, in Masco Corporation of 5.0%, in CIGNA Corporation of 3.9% and in St. Jude Medical, Inc of 2.3%.

Texas Instruments Incorporated led gainers in the S&P 500 index with a rise of 6.6% followed by gains in of LSI Corporation 5.4%, in Motorola, Inc of 5.1% and E*TRADE Financial Corporation of 4.7%.

Other Movers

Alliance One International, Inc (AOI) climbed 16.2% or 79 cents to $5.65 after the global independent leaf tobacco merchant said full-year sales rose 12.4% to $2.26 billion from $2.01 billion a year ago. Net income in the year rose 685% to $132.6 million or $1.50 per diluted share compared to net income of $16.9 million or 19 cents per a year ago.

Blyth, Inc (BTH) decreased 4.0% or $1.43 to $35.04 after the home fragrance and decorative accessories provider said first quarter sales fell 14% to $214.7 million from $249.8 million a year ago. Net income in the quarter rose 110% to $2.44 million or 27 cents per diluted share compared to net income of $1.16 million or 13 cents per a year ago.

CRA International, Inc (CRAI) added 11.1% or $3.08 to $30.85 an economic and management consulting services firm reported second quarter revenues fell 23.2% to $801.6 million from $661.4 million a year ago. Net income in the quarter was $1.7 million or 16 cents per diluted share compared to net loss of $512,000 or 5 cents per share a year ago.

Ceradyne, Inc (CRDN) sank 12.6% or $2.95 to $20.10 after the maker of ceramic body armor for U.S. soldiers said it expects to earn 70 cents per share in 2009 far below previous guidance of about $1.60 a share.

FuelCell Energy, Inc (FCEL) surged 17.2% or 70 cents to $4.76 after the manufacturer of power plants reported second quarter revenues fell 27.5% to $22.9 million from $31.6 million a year ago. Net loss in the quarter was $19.9 million or 29 cents per diluted share compared to net loss of $25.8 million or 38 cents per share a year ago.

GigaMedia Limited (GIGM) fell 2.2% or 14 cents to $6.01 after the provider of online entertainment software and services reported first quarter revenues fell 13.3% to $44.4 million from $51.2 million a year ago. Net income in the quarter fell 60% to $4.84 million or 8 cents per diluted share compared to net income of $12.08 million or 20 cents per share a year ago.

The Hartford Financial Services Group, Inc (HIG) lost 3.1% or 47 cents to $14.31 after the insurer was downgraded from “buy” to “hold” at Citigroup.

Lakeland Industries, Inc (LAKE) dropped 4.9% or 42 cents to $8.06 after the manufactures of safety garments and accessories reported first quarter revenues fell 12.1% to $24.0 million from $27.3 million a year ago. Net income in the quarter fell 89% to $0.1 million or 2 cents per diluted share compared to net income of $0.9 million or 16 cents per share a year ago.

The Men’s Wearhouse, Inc (MW) added 15.7% or $2.81 to $20.68 after the men’s suits retailer and tuxedos renter said first quarter sales fell 6% to $464.1 million from $491.1 million a year ago. Net income in the quarter fell 47% to $5.3 million or 10 cents a diluted share compared to net income of $9.9 million or 19 cents per a year ago.

Pall Corporation (PLL) declined 2.0% or 55 cents to $26.30 after the water filtration company said third quarter revenues fell 16% to $555.9 million from $661.7 million a year ago. Net income in the quarter fell 30% to $44.2 million or 37 cents per diluted share compared to net income of $63.3 million or 13 cents per a year ago.

The Pep Boys-Manny, Moe & Jack (PBY) surged 6.8% or 58 cents to $9.00 an automotive service and retail chain said first quarter sales fell 0.3% to $496.5 million from $498 million a year ago. Net income in the quarter rose 132% to $10.9 million or 21 cents a diluted share compared to net income of $4.7 million or 9 cents per a year ago.

Satyam Computer Services Limited (SAY) rose 26.0% or 71 cents to $3.43 after the global information technology services provider posted a consolidated net profit of 1.6 billion rupees or $33.5 million.

The Talbots, Inc (TLB) rose 8.8% or 44 cents to $5.44 after the women''s apparel retailer reported first quarter revenues fell 26% to $306.2 million from $414.8 million a year ago. Net loss in the quarter was $23.6 million or 44 cents per diluted share compared to net income of $1.6 million or 3 cents per share a year ago.

Titan Machinery Inc (TITN) slid 3.3% or 36 cents to $14.68 after the network of agricultural and construction equipment stores reported first quarter revenues rose 9% to $166.3 million from $152.6 million a year ago. Net income in the quarter fell 47% to $1.8 million or 10 cents per diluted share compared to net income of $3.4 million or 24 cents per share a year ago.

Texas Instruments Incorporated (TXN) gained 5.3% or $1.06 to $20.83 after the second-largest U.S. chipmaker raised and narrowed its expected ranges for revenue and earnings per share.

Quiksilver, Inc (ZQK) lost 12.7% or 46 cents to $3.16 after the maker of outdoor clothing and equipment said second quarter revenues fell 17% to $494.2 million from $596.3 million a year ago. Net income in the quarter was $2.8 million or 2 cents a diluted share compared to net loss of $206.2 million or $1.59 per a year ago.


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