NPO, GET, MGM, HOT, LVS, BYD, WYNN, GB, WMS Popural Stocks
U.S. stocks returned to the red in afternoon trading Tuesday, reversing their midday trip into the black, as commodity-related stocks weighed.
The Dow Jones Industrial Average fell 7.33 points to 9279, the Standard & Poor’s 500 lost 1 points to 1002 and the Nasdaq Composite declined 6.43 points to 2002.
EnPro Industries Inc. (NYSE:NPO, $20.30, +$1.99, 10.87%) reported better-than-expected second-quarter earnings excluding items as the company’s markets for sealing products and engineered products stabilized. Meanwhile, sales and profits continued to improve in EnPro’s engine products and services segment.
Gaylord Entertainment Co. (NYSE:GET, $17.08, +$2.42, 16.51%) reported second-quarter earnings that easily topped Wall Street estimates. The company – which owns hotels and entertainment such as the Grand Ole Opry – said it’s beginning to see signs of stabilization. Casinos and other lodging companies also traded higher, including MGM Mirage (NYSE:MGM, $8.20, +$0.75, 10.07%), Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT, $26.84, +$1.97, 7.92%), Las Vegas Sands Corp. (NYSE:LVS, $10.92, +$0.86, 8.55%), Boyd Gaming Corp. (NYSE:BYD, $10.11, +$0.66, 6.98%) and Wynn Resorts Ltd. (NASDAQ:WYNN, $57.61, +$4.18, 7.82%).
Greatbatch Inc. (NYSE:GB, $21.67, -$0.94, -4.14%) shares fall after reporting a steeper-than-expected second-quarter revenue decline on a slowdown in its orthopedic and electrochem units. Earnings met the consensus view, and the company also backed its 2009 revenue outlook, though it expects challenging market conditions in the second half.
WMS Industries Inc.’s (NYSE:WMS, $41.05, +$4.29, 11.67%) fiscal fourth-quarter earnings per share beat analyst estimates by 2 cents. The gambling-machine maker also forecast fiscal 2010 revenue above analysts’ latest estimates, encouraging JPMorgan to raise its rating to overweight from neutral.
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