1:30 PM New York – Seagate Technology surged on the talks that the company may go private. General Electric declined after quarterly revenues declined 5%. Google soared 10% after it reported higher than expected adjusted earnings. Gannett Co. declined after quarterly revenues trailed market estimates.
Of the stocks in the Dow, 10 increased, 20 decreased and none were unchanged.
Of the 30 stocks in the Dow Jones Industrial Average, Hewlett-Packard Company led the gainers with a rise of 1.00% followed by increase in The Travelers Companies, Inc. of 0.56%, in Cisco Systems, Inc. of 0.52%, in E. I. du Pont de Nemours and Company of 0.47%, Pfizer Inc. of 0.40%.
General Electric Company led the decliners with a fall of 4.55% followed by decline in Bank of America Corporation of 3.81%, in JPMorgan Chase & Co. of 3.32%, in Alcoa Inc of 0.99%, in The Home Depot, Inc. of 0.91%.
Advanced Micro Devices, Inc.
) fell 0.8% or 6 cent to $7.08 after the global semiconductor company reported third quarter revenue were $1.62 billion from $1.40 billion in the same quarter last year. Net loss was $118 million or 17 cents per diluted share compared with net loss of $128 million or 18 cents per share a year ago.
Body Central Corp
) increased 2% to $13.29 after it priced its public offering of 5 million shares at $13 each.
) surged 8.1% or $1.25 to $16.65 after the coating products maker said fiscal fourth quarter revenues rose 45% to $35.4 million from $24.4 million in the same quarter last year. Net income in the quarter was to $4.3 million or 48 cents per diluted share, compared to net income of $2.8 million or 31 cents per share for the year-ago quarter.
For the fiscal year 2010, net revenue increased 30% to $118.7 million from $91.2 million last year. The company reported net income for the fiscal year 2010 was $12.5 million or $1.38 per share compared to $6.3 million or 72 cent per share for the fiscal year 2009.
First Horizon National Corporation
) plunged 4.9% or 54 cent to $10.35 after the financial services provider said third quarter total revenues fell 12% to $434.36 million compared to $493.04 million in the prior-year quarter. Net income in the quarter was $15.88 million or 7 cents per diluted share compared to a net loss of $52.86 million or 23 cents per share in the same quarter last year.
General Electric Company
) declined 5.1% or 88 cent to $16.28 after the diversified technology, media and financial services company reported third quarter consolidated revenues decreased 5% to $35.89 billion from $37.80 billion in the same quarter last year. Net earnings in the quarter fell 18% to $2.06 billion, or 18 cents per diluted share compared with net earnings of $2.49 billion or 23 cents per share a year ago.
Gannett Co., Inc.
) slumped 7.9% or $1.12 to $12.97 after the international media and marketing company reported third quarter total operating revenue were $1.32 billion from $1.32 billion in the same quarter last year. Net income rose 37.5% to $101.41 million or 42 cents per diluted share compared with net income of $73.75 million, or 31 cents per share a year ago.
Genuine Parts Company
) soared 5.2% or $2.40 to $47.94 after the automotive parts maker stated third quarter total sales increased 13% to $2.95 billion from $2.61 billion in the same quarter last year. Net income gained 22% to $131.8 million or 83 cents per diluted share compared with net income of $107.6 million or 67 cents per share a year ago.
), surged 10.8% or $58.40 to $599.36 after the search engine operator reported third quarter net revenues increased 23% to $7.29 billion from $5.94 billion in the prior year. Net income in the quarter was $2.17 billion or $6.72 per diluted share compared to net income of $1.64 billion or $5.13 per share a year earlier.
) slipped 7.4% or $1.78 to $22.22 after the toy manufacturer reported third quarter net sales rose 2.2% to $1.83 billion from $1.79 billion last year, including 3 percentage points impact from unfavorable changes in currency exchange rates. Net income in the quarter increased 23.2% to $283.3 million or 77 cents per diluted share, compared to net income of $229.8 million or 63 cents per share in the prior-year quarter.
) plunged 8.2% or $1.49 to $16.57 after the multi-national holding company said fiscal fourth quarter revenue rose 3.8% to $356.0 million from $343.0 million for the same period a year ago. Net income was $7.5 million or 33 per diluted share compared to net income of $7.2 million or 35 cent per diluted share in the same quarter a year ago.
For the fiscal year sales fell 7% to $1401.4 million compared to $1507.7 million for the same period a year ago. Net income was $20.3 million or 94 cent per diluted share compared to net loss of $155.4 million or $6.90 per diluted share same period a year ago.
Seagate Technology plc
) surged 20.8% or $2.65 to $15.34 after the computer hard disk drive maker after several media reports suggested that the largest maker of hard disk may be taken private by KKR & Co. and TPG Capital.
) fell 1.5% or 42 cent to $26.81 after the commercial bank reported third quarter net interest income was $19.37 million compared to $18.47 million for the same period a year ago. Net income were $4.69 million or 49 cent per diluted share compared to net income of $6.0 million or 63 cent per diluted share period a year ago.
) increased 1.4% or 32 cent to $21.98 after the food and drug retailer stated third quarter total sales fell 2.0% to $9.4 billion compared to $9.5 billion for the same period a year ago. Net income was $122.8 million or 33 per diluted share compared to net income of $128.8 million or 31 cent per diluted share in the same quarter a year ago.
The Charles Schwab Corporation
) gained 1.6% or 23 cent to $14.32 after the financial holding company said third quarter total revenue increased 5% to $1,063 million compared to $1,011 million for the same period a year ago. Net income was $124 million or 10 per diluted share compared to net income of $200 million or 17 cent per diluted share in the same quarter a year ago.
Valmont Industries, Inc.
) decreased 2.9% or $2.25 to $75.08 after the global fabricated metal producer said reported third quarter net sales were $527.8 million from $434.0 million from a year ago. Net earnings in the quarter were $25.9 million or 98 cents per diluted share compared to net earnings of $40.5 million or $1.53 per share a year ago.
Webster Financial Corporation
) declined 2% or 37 cent to $17.61 after the financial holding company reported third quarter total securities were $5.37 billion from $4.62 billion from the same quarter of a year ago. Net Income in the quarter was $17.78 million or 22 cents per diluted share compared to net loss of $26.10 million or 39 cent per share a year ago.
Western Digital Corp
) rose more than 8.7% to $32.01 after the reports that the competitor Seagate Technology may go private.
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