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Market Update

First Solar Falls; Akamai, Symantec Rise


Author: Mayank Mehta
ticker.com
Last Update: 11:35 AM ET October 29 2009

11:00 AM New York – First Solar, Inc led the decliners in the S&P 500 index with a loss of 17.3%. Affiliated Managers Group third quarter profit increased 72%. Aetna Inc beats analyst expectations. Owens-Illinois, Inc third quarter profit jumps 61% on cost cutting.

Of the stocks in S&P 500 index, 396 increased, 97 declined and 7 were unchanged.

First Solar, Inc led the decliners in the S&P 500 index with a loss of 17.3% followed by losses in Monster Worldwide, Inc of 7.3%, in The Goodyear Tire & Rubber Company of 7.2%, in Avon Products, Inc of 6.7% and in Smith International, Inc of 4.4%.

Akamai Technologies, Inc led gainers in the S&P 500 index with a rise of 12.3% followed by gains in Symantec Corporation 10.8%, in O’Reilly Automotive, Inc of 10.0% and in Lincoln National Corporation of 9.8%.

Other Movers

Aetna Inc (AET) rose 0.7% or 18 cents to $25.50 after the health insurer reported third quarter revenues rose 14.4% to $8.72 billion from $7.62 billion a year ago. Net income in the quarter rose 17.6% to $326.2 million or 73 cents per diluted share compared to net income of $277.3 million or 58 cents per share a year ago.

Agnico-Eagle Mines Limited (AEM) slipped 5.2% or $3.25 to $58.37 after the Toronto-based gold company said third quarter net loss of $17.0 million or 11 cents per diluted share.

Affiliated Managers Group, Inc (AMG) added 1.5% or 95 cents to $63.43 an asset management company said third quarter revenues fell 25.2% to $217.5 million from $290.8 million a year ago. Net income in the quarter rose 72.3% to $67.9 million or 40 cents per diluted share compared to net income of $39.4 million or 39 cents per share a year ago.

Aflac Incorporated (AFL) decreased 1.6% or 68 cents to $39.90 after the disability insurance provider said third quarter revenues rose 23% to $4.53 billion from $3.69 billion a year ago. Net income in the quarter rose 263% to $363 million or 77 cents per diluted share compared to net income of $100 million or 21 cents per share a year ago.

Airgas, Inc (ARG) fell 2.0% or 95 cents to $45.00 after the industrial gas distributor reported second quarter sales fell 17% to $962.3 million from $1.16 billion a year ago. Net income in the quarter fell 25% to $54.5 million or 65 cents per diluted share compared to net income of $72.8 million or 86 cents per share a year ago.

Akamai Technologies, Inc (AKAM) added 9.6% or $1.94 to $22.10 after the provider of technology for managing web traffic said third quarter revenues rose 4.7% to $206.5 million from $197.3 million a year ago. Net income in the quarter fell 2% to $32.7 million or 18 cents per diluted share compared to net income of $33.4 million or 18 cents per share a year ago.

Allegheny Energy, Inc (ALE) fell 2.3% or 58 cents to $24.44 after the energy company reported third quarter revenues fell 6.6% to $793.7 million from $849.6 million a year ago. Net income in the quarter fell 13.5% to $77 million or 45 cents per diluted share compared to net income of $89 million or 52 cents per share a year ago.

Allergan, Inc (AGN) rose 0.9% or 51 cents to $54.06 after the multi-specialty health care company reported third quarter revenues rose 3.6% to $1.14 billion from $1.10 billion a year ago. Net income in the quarter rose 8.2% to $179 million or 58 cents per diluted share compared to net income of $165.4 million or 54 cents per share a year ago.

American Superconductor Corporation (AMSC) surged 11.8% or $3.42 to $32.26 after the energy technologies company reported second quarter revenues rose 85% to $74.7 million from $40.4 million a year ago. Net income in the quarter was $4.3 million or 10 cents per diluted share compared to net loss of $4.1 million or 10 cents per share a year ago.

Apache Corporation (APA) rose 2.1% or $2.02 to $95.85 after the oil and gas company reported third quarter revenues fell 30.7% to $2.33 billion from $3.36 billion a year ago. Net income in the quarter fell 63% to $440.6 million or $1.30 per diluted share compared to net income of $1.19 billion or $3.52 per share a year ago.

Assurant, Inc (AIZ) added 4.1% or $1.21 to $30.51 after the specialty insurer said third quarter revenues rose 10.8% to $2.16 billion from $1.95 billion a year ago. Net income in the quarter was $144.7 million or $1.22 per diluted share compared to net loss of $111.4 million or 94 cents per share a year ago.

AutoNation, Inc (AN) added 2.2% or 41 cents to $18.50 after the automotive retailer reported third quarter revenues fell 13% to $2.92 billion from $3.36 billion a year ago. Net income in the quarter was $65 million or 36 cents per diluted share compared to net loss of $1.41 billion or $7.99 per share a year ago.

Avon Products, Inc (AVP) dropped 3.0% or $1.00 to $32.00 after the cosmetics company reported third quarter revenues fell 3.4% to $2.55 billion from $2.64 billion a year ago. Net income in the quarter fell 30% to $156.2 million or 36 cents per diluted share compared to net income of $222.6 million or 52 cents per share a year ago.

Baldwin & Lyons, Inc (BWINA) close unchanged at $21.46 an insurance company reported third quarter revenues rose 98.5% to $65.5 million from $33.0 million a year ago. Net income in the quarter was $14.3 million or 97 cents per diluted share compared to net loss of $7.3 million or 48 cents per share a year ago.

Ball Corporation (BLL) added 0.2% or 12 cents to $48.55 after the plastic and metal packaging company reported third quarter sales fell 2% to $1.97 billion from $2.01 billion a year ago. Net income in the quarter rose 1.8% to $103.7 million or $1.09 per diluted share compared to net income of $101.9 million or $1.05 per share a year ago.

Burger King Holdings, Inc (BKC) fell 3.9% or 68 cents to $16.61 after the hamburger chain reported first quarter revenues fell 5.4% to $636.9 million from $673.5 million a year ago. Net income in the quarter fell 6.4% to $46.6 million or 34 cents per diluted share compared to net income of $49.8 million or 36 cents per share a year ago.

$36.61
2.92%
$66.20
0.61%
$68.16
6.15%
$27.92
4.49%
$47.65
3.43%
$130.17
1.81%
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc