2:15 p.m. New York – ArcelorMittal drop after production cuts. Blue Nile declines on weak sales.

Agrium Inc (AGU) gained 7.6% or $3.23 to $43.45 after the producer agriculture products reported third quarter revenues rose 205% to $3.18 billion from $1.04 billion a year ago. Net income in the quarter rose 620% to $367 million or $2.31 per diluted share compared to net income of $51 million or 38 cents per share, a year ago.

ArcelorMittal (MT) lost 14.4% or $4.59 to $27.11 after the global steel producer reported third quarter revenues rose 38% to $35.2 billion from $25.5 billion a year ago. Net income in the quarter rose 29% to $3.8 billion or $2.79 per diluted share compared to net income of $2.96 billion or $2.10 per share a year ago.

ArcelorMittal said fourth quarter steel production will fall by 9 million tons from 28 million tons to 19 million tons. Flat carbon steel production in the U.S. and Asia, Africa and CIS regions decline by 35% and in Europe fall by 30%.

The company hopes lower net debt by $10 billion and free cash flow in the third quarter declined to $0.8 billion from $3 billion.

Blue Nile, Inc (NILE) fell 12.5% or $3.55 to $24.70 after the online retailer of diamonds and jewelry said third quarter sales fell 3% to $65.4 million from $67.4 million a year ago. Net income in the quarter fell 23% to $2.3 million or 15 cents per diluted share compared to net income of $3 million or 18 cents per share, a year ago.

Bill Barrett Corporation (BBG) added 10.1% or $2.12 to $23.16 after the development and production of natural gas and crude oil reported third quarter revenues rose 100% to $164.4 million from $82.3 million a year ago. Net income in the quarter was $36.1 million or 80 cents per diluted share compared to net income of $0.2 million or 1 cent per share, a year ago.

The Boston Beer Company, Inc (SAM) dropped 11.9% or $4.37 to $32.22 after the craft beer brewer said third quarter revenues rose 20% to $101.1 million from $84.1 million a year ago. Net loss in the quarter was $0.3 million or 2 cents per diluted share compared to net income of $3.2 million or 21 cents per share, a year ago.

Douglas Emmett Inc (DEI) added 7.1% or $1.06 to $15.88 after the real estate investment trust said third quarter revenues rose 15.7% to $153.2 million from $132.5 million a year ago. Net loss in the quarter was $9.7 million or 8 cents per diluted share compared to net loss of $2.8 million or 3 cents per share, a year ago.

Great Wolf Resorts, Inc (WOLF) slid 4.4% or 9 cents after the indoor water park resorts operator reported third quarter revenues rose 36% to $69.4 million from $50.9 million a year ago. Net income in the quarter rose 22% to $2.2 million or 7 cents per diluted share compared to net income of $1.8 million or 6 cents per share, a year ago.

Kenneth Cole Productions, Inc (KCP) declined 9.4% or $1.18 to $11.25 after the shoe and handbag maker said third quarter revenues rose 1.4% to $132.1 million from $130.3 million a year ago. Net loss in the quarter was $1.6 million or 9 cents per diluted share compared to net income of $3.4 million or 17 cents per share, a year ago.

Kendle International Inc (KNDL) climbed 12.4% or $2.66 to $24.00 after the global clinical research organization said third quarter revenues rose 25% to $124.8 million from $100.1 million a year ago. Net income in the quarter rose 189% to $11.0 million or 73 cents per diluted share compared to net income of $3.8 million or 25 cents per share, a year ago.

K-Swiss Inc (KSWS) added 4.7% or 67 cents to $14.68 after the athletic footwear maker reported third quarter revenues fell 11% to $95.8 million from $107.2 million a year ago. Net loss in the quarter was $100,000 or breakeven per diluted share compared to net income of $12.8 million or 36 cents per share a year ago.

MBIA Inc (MBI) plunged 19.6% or $2.05 to $8.41 after the bond insurer reported third quarter revenues fell 24% to $319.8 million from $431.2 million a year ago. Net loss in the quarter was $806.5 million or $3.48 per diluted share compared to net loss of $36.6 million or 30 cents per share a year ago.

MetroPCS Communications, Inc (PCS) fell 3.7% or 55 cents to $14.09 after the low-cost mobile phone service provider reported third quarter revenues rose 23% to $686.7 million from $556.7 million a year ago. Net income in the quarter fell 15% to $44.9 million or 13 cents per diluted share compared to net income of $53.1 million or 15 cents per share, a year ago.

Nautilus, Inc (NLS) decreased 6.4% or 16 cents to $2.31 after the fitness equipment maker said third quarter revenues fell 18.7% to $93.7 million from $115.3 million a year ago. Net loss in the quarter was $34.1 million or $1.11 per diluted share compared to net loss of $13.4 million or 43 cents per share, a year ago.

Weight Watchers International, Inc (WTW) lost 5.7% or $1.84 to $30.12 after the provider of weight management services said third quarter revenues rose 5% to $352.6 million from $337.5 million a year ago. Net income in the quarter rose 6% to $52.7 million or 67 cents per diluted share compared to net income of $49.5 million or 62 cents per share a year ago.

NILE	$34.57	-1.23%
MT	$13.07	-1.13%

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