2:20 PM New York – Casino stocks fell sharply after gambling revenues in February declined at a faster rate than in January. Alcoa dropped ahead of earnings. International Speedway plunged after it lowered its annual earnings estimate.

Of the stocks in S&P 500 index, 96 increased, 401 declined and 3 were unchanged.

General Motors led decliners in the S&P 500 index with a fall of 13.6% followed by losses in Wynn Resorts Ltd of 11.1%, in Archer Daniels Midland of 9.9%, in Starwood Hotels of 9.4%, in Janus Capital of 8.4% and in Apollo Group of 8.3%.

Apollo Group, Ford Motor and Nordstrom Inc declined 8%.

Lincoln National Corp led gainers in the S&P 500 index with a rise of 9% followed by increase in Textron Inc of 8.5%, in United Health Group of 7.5%, in Intercontinental Exchange of 6%, in Biogen IDEC Inc of 6%, in Humana Inc of 5.8% and in Aetna Inc of 5.8%.

Other Movers

Casino stocks fell after Nevada Gaming Commission reported lower win collection in February. In the month the casino win collection fell 18% after falling 14% in January. Fr the year 2008 the ‘wins’ at casinos had declined 14%.

Las Vegas Sands (LVS) declined 19% or 92 cents to $4.04, MGM Mirage (MGM) declined 18% or $1.04 to $4.47 and Wynn Resorts, Limited (WYNN) fell 13% or $4.06 to $27.14.

Alcoa Inc (AA) declined 3.5% or 28 cents to $7.62 ahead of its earnings after the market close.

Applied Materials, Inc (AMAT) plunged 9% or $1.02 to $10.54 after it cut its previously announced contract for a solar chipmaker by $250 million to $1.65 billion. The chipmaker in the first fiscal 2009 quarter reported a loss of 10 cents a share.

Brinker International, Inc (EAT) surged as high as $18.14 before settling to $16.87 after it reported adjusted third quarter earnings between 44 cents a share and 45 cents a share. On GAAP basis the company estimated third quarter earnings between 33 and 34 cents a share compared to a loss of 38 cents a share a year ago. Across the portfolio of stores, same store sales declined 5.6% in the period compared to a gain of 1% in the third quarter of 2008.

International Speedway Corp (ISCA) plunged 25% or $6.07 to $18.36 after it estimated lower than expected annual earnings. For the fiscal first quarter the NASCAR race track operator earned 52 cents a share or $25.1 million compared to 71 cents a share and $36.2 million. The company guided fiscal annual 2009 earnings between $1.80 and $2.00 a share.

Janus Capital Group (JNS) dropped 9% to $6.68 after Morgan Stanley cut its price target and view on the company stock.

Royal Bank of Scotland Group Plc (RBS) plunged 11.4% to $7.87 after it announced plans to lay off 9,000 people and cut $4 billion in costs. Of the total job elimination 4,500 may be in UK. The troubled bank is struggling to repay UK government for its bailout. The bank employs 170,000 people and may be forced to cut additional 6% staff in the next twelve months.