[R]11:45 AM New York – General Motors Corporation led gainers in the S&P 500 index with a rise of 13.9%. Coldwater Creek Inc first quarter reports narrower than expected loss. dELiA, Inc first quarter loss narrows. Star Bulk Carriers Corp first quarter profit rises.[/R]

Of the stocks in S&P 500 index, 419 increased, 73 declined and 8 were unchanged.

Moody’s Corporation led the decliners in the S&P 500 index with a fall of 6.5% followed by losses in Fifth Third Bancorp of 4.3%, in Nordstrom, Inc of 3.7%, in Pulte Homes, Inc of 3.6% and in Corning Incorporated of 3.4%.

General Motors Corporation led gainers in the S&P 500 index with a rise of 13.9% followed by gains in Torchmark Corporation of 5.0 %, in CME Group Inc of 2.8% and The AES Corporation of 2.5%.

Other Movers

Blue Coat Systems, Inc (BCSI: chart) the provider of Internet security tumbled 11.5% or $1.85 to $14.15.

Big Lots, Inc (BIG: chart) added 4.1% or 97 cents to $24.62 after the closeout retailer reported first quarter sales fell 1% to $1.14 billion from $1.15 billion a year ago. Net income in the quarter rose 5% to $36.2 million or 44 cents per diluted share compared to net income of $34.5 million or 42 cents per share a year ago.

CarMax, Inc (KMX: chart) rose 10.2% or $1.03 to $11.11 after the biggest U.S. used-car dealer was upgraded at Deutsche Bank AG.

China Finance Online Co. Limited (JRJC: chart) declined 11.5% or $1.56 to $11.98 a Chinese online financial information and data provider said first quarter revenues rose 6% to $11.76 million from $11.06 million a year ago. Net loss in the quarter was $128,000 or 1 cent per ADS compared to net income of $3.51 million or 15 cents per ADS a year ago.

Coldwater Creek Inc (CWTR: chart) rose 4.5% or 18 cents to $4.13 a specialty retailer of women''s apparel and accessories said first quarter revenues fell 16% to $228.4 million from $271.1 million a year ago. Net loss in the quarter was $7.6 million or 8 cents per diluted share compared to net loss of $9.2 million or 10 cents per a year ago.

dELiA*s, Inc (DLIA: chart) rose 3.5% or 8 cents to $2.34 after the fashion apparel and accessories retailer reported first quarter sales rose 11.3% to $52.1 million from $46.8 million a year ago. Net loss in the quarter was $3.6 million or 12 cents per diluted share compared to net loss of $3.9 million or 13 cents per share a year ago.

Diamond Foods, Inc (DMND: chart) gained 10.8% or $2.78 to $28.44 after the packaged nuts and snacks marketer diluted earnings per share for the three months ended April 30, 2009 surged 129% to 16 cents compared to 7 cents during the prior year''s comparable period.

DSW Inc (DSW: chart) dropped 10.6% or $1.38 to $11.59 a shoe retailer said first quarter revenues rose 5% to $385.8 million from $366.3 million a year ago. Net income in the quarter fell 31% to $7.1 million or 16 cents per diluted share compared to net income of $10.3 million or 23 cents per a year ago.

Fred’s, Inc (FRED: chart) slumped 3.0% or 54 cents to $13.29 after the discount general merchandise stores reported first quarter sales fell 1% to $458.4 million from $464.3 million a year ago. Net income in the quarter rose 18% to $8.6 million or 21 cents per diluted share compared to net income of $7.3 million or 18 cents per share a year ago.

General Motors increased 1% to $1.16 after the automaker said that bond holders committee is likely to accept revised terms for exchange. The new terms will offer bond holders 10% in the company and warrants to purchase additional 5% and increase stake to 15%.

Jo-Ann Stores, Inc (JAS: chart) added 3.0% or 64 cents to $22.10 a fabric and craft retailer said first quarter sales rose 3% to $460 million from $446.1 million a year ago. Net income in the quarter rose 187% to $8.6 million or 33 cents per diluted share compared to net income of $3.0 million or 12 cents per a year ago.

Natuzzi S.p.A (NTZ: chart) plunged 17.0% or 34 cents to $1.65 after the manufacturer of leather-upholstered furniture reported first quarter sales fell 36% to €111.3 million from €172.8 million a year ago. Net loss in the quarter was €10.4 million or €0.19 per diluted share compared to net loss of €23.4 million or €0.43 per share a year ago.

Star Bulk Carriers Corp (SBLK: chart) fell 7.0% or 38 cents to $4.99 a transportation service provider said first quarter revenues rose 8% to $45.1 million from $41.7 million a year ago. Net income in the quarter rose 35% to $22.5 million or 37 cents per diluted share compared to net income of $16.7 million or 34 cents per a year ago.