11:45 AM New York – Resource stocks gained after commodities prices increased on the hopes that Chinese industrial growth will sustain the world demand. Christopher & Banks surged after less than expected quarterly sales decline. NCR Corp increased on a broker upgrade. Retailers gained after government reported higher sales in November.
Of the stocks in S&P 500 index, 407 increased, 87 declined and 6 were unchanged.
IMS Health Incorporated led the decliners in the S&P 500 index with a loss of % followed by losses in Boston Scientific Corporation of 1.2% and in The Bank of New York Mellon Corporation of 1.0%, in Illinois Tool Works Inc of 0.9% and in The AES Corporation of 0.9%.
Alcoa Inc led gainers in the S&P 500 index with a rise of 3.8% followed by gains in GameStop Corp 3.5%, in El Paso Corporation of 2.2% and in Corning Incorporated of 2.1%.
Retailers advanced after November sales increased more than expected. JC Penney, Macy’s, Kohl’s, Wal-Mart Stores and Dillard’s and Sears Holdings gained between 1% and 4%.
) increased 6.1% or 83 cents to $14.34 after commodities gained on the news that Chinese industrial production surged and imports in the month were higher than expected.
) added 4.9% or $1.97 to $42.43 after the maker of automotive air bags expects fourth quarter organic sales to grow by at least 20% over the same quarter 2008 and its operating margin, excluding restructuring charges, to improve to at least 9%. Consolidated net sales are expected to increase at least 35% based on the current exchange rate.
BHP Billiton plc
) the diversified natural resources company rose 1.3% or 96 cents to $74.04.
Christopher & Banks Corporation
) surged 27.5% or $1.65 to $7.65 after the women’s clothing retailer said same-store sales for the quarter declined 8.4% as compared to the expectation of a fall in the low to mid-teens. The company expects to report revenues of approximately $132 million.
Deer Consumer Products Inc
) plunged 19.5% to $12.75 after it placed 6 million shares at $11 million.
Esterline Technologies Corporation
) advanced 2.4% or $1.00 to $41.98 after the manufacturer of jet-engine parts said that the sales pattern in 2010 is likely to match the sales in 2009 with weak first quarter sales mix and improvements in the following quarters.
Freeport-McMoran Copper & Gold Inc
) rose 1.0% or 79 cents to $78.49.
Hecla Mining Company
) fell 0.1% or 1 cent to $6.62.
IMS Health, Inc
) dropped 7.2% to $19.84 after the Associated Press reported lawmakers are looking to ban the sale of prescription data. IMS sells the prescription data to analysts and drugmakers.
Learning Tree International, Inc
) decreased 2.4% or 30 cents to $12.15 after provider of professional development courses for IT workers said fourth quarter revenues fell 28% to $31.8 million from $44.2 million a year ago. Net loss in the quarter was $1.4 million or 10 cents per diluted share compared to net income of $2.8 million or 17 cents per share a year ago.
Lockheed Martin Corporation
) gained 1.3% or $1.02 to $77.01.
MGIC Investment Corporation
) the mortgage insurer climbed 1.7% or 8 cents to $4.68.
) surged 10% or 96 cents to $10.75 after the maker of automated-teller machines was upgraded to “overweight” from “neutral” at JPMorgan.
Sirona Dental Systems, Inc
) the maker of dental-imaging equipment declined 6.7% or $2.41 to $32.52.