Please ensure Javascript is enabled for purposes of website accessibility

Strong Profits Boost Englehard and Prudential

New Jersey Stocks at a GlanceThe Runnymede NJ-30 and S&P 500 indices rose 1.4% and 1.7%, respectively, marking their second consecutive five-day increase. Engelhard topped the state?s gainers after reporting first-quarter results that beat Wall Street?s expectations. Also exceeding forecasts was Prudential Financial, which reported a first-quarter profit of $1.49 per share and reaffirmed its strong profit prediction for the rest of the year. Insurer Chubb reported a 30% increase in quarterly earnings and said it would match or beat its previously announced targets for all of 2005.
Although American Standard?s earnings report of 47¢ a share bettered Wall Street expectations by a penny, that fact could not outweigh investor concerns over the negative cash flow and increase in unsold inventories for the diversified maker of bath and kitchen fixtures and air conditioning. Meanwhile, shares of Honeywell drifted down to the middle of its 52-week range of $39.50 to $31.85. Celgene ended its streak of four straight weeks as a top-five gainer after competitor Millennium Pharmaceuticals reported weak sales. Investors took that as a sign of possible trouble for the biotech industry.

Winners and losers
Five Largest Gainers

ENGELHARD 7.1%
PRUDENTIAL FINANCIAL 7.0%
CHUBB 5.8%
LUCENT TECHNOLOGIES 5.2%
MERCK 4.3%

Five Largest Decliners

AMERICAN STANDARD -2.5%
HONEYWELL -2.3%
CELGENE -2.3%
SEALED AIR -0.8%
BED BATH & BEYOND -0.8%

Source: Runnymede Capital Management analysis for trading days from April 28 to May 4, 2005.

NJBIZ Business Events

2022 NJBIZ Energy Panel Discussion

Tuesday, October 18, 2022
2022 NJBIZ Energy Panel Discussion

NJBIZ Best 50 Women in Business 2022

Wednesday, October 26, 2022
NJBIZ Best 50 Women in Business 2022

NJBIZ Business of the Year 2022

Tuesday, December 13, 2022
NJBIZ Business of the Year 2022