EL, HAR, ISSI, PAG, TSRA, HMSY Popular Stocks
U.S. stocks were down Friday as the Dow Jones Industrial Average slid 2.19% to 9744, while the S&P 500 lost 2.48% to 1040 and the Nasdaq Composite dropped 2.17% to 2052.
Estee Lauder Cos.’s (NYSE:EL, $43.67, +$2.53, 6.15%) fiscal first-quarter profit more than doubled as the beauty products company posted higher earnings across all of its businesses.
Stereo maker Harmon International Industries Inc. (NYSE:HAR, $37.87, +$4.87, 14.76%) reported fiscal first quarter sales that were better than expected and increased sequentially as the company said its markets are stabilizing and it is gaining market share.
Integrated Silicon Solution Inc. (NASDAQ:ISSI, $3.53, +$0.25, 7.62%) soared after it reported fiscal fourth-quarter results ahead of the estimates of the analyst who covers the semiconductor company. The company also projected fiscal first-quarter earnings ahead of the analyst’s estimate.
Penske Automotive Group Inc.’s (NYSE:PAG, $15.42, -$1.57, -9.24%) third-quarter profit rose 24% on higher margins and lower costs as the auto retailer also got a sales boost from the government’s “cash-for-clunkers” program.
While Tessera Technologies Inc.’s (TSRA, $22.33, -$4.53, -16.87%) third-quarter results topped Street estimates, the maker of products for the electronics industry projected fourth-quarter revenue well short of analysts’ expectations.
HMS Holdings Corp. (NASDAQ:HMSY, $43.74, +$2.75, 6.71%) reported better than expected third-quarter results and raised its expectation for 2009 earnings per share by 3 cents. The cost-management services company also projected 2010 earnings ahead of analysts’ expectations.
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