Despite a massive natural disaster and not-so-ideal economic conditions, these five companies were the most successful in the first quarter, according to the S&P 500 index.
Big Lots Inc. fared well in the first quarter, with a 42.6% increase. Currently, the bargain store giant is making management presentations to several private equity firms, some of which are poised to jointly bid for the retailer, dealReporter reported earlier this week.
Micron Technology shares rose in the first quarter by 43%. One of the leading semiconductor companies, Micro consistently reported increased customer demand of its product during 2010, but is still in the process of accessing damage from the Japan earthquake and tsunami.
JDS Uniphase shares rose 43.9% in the first quarter. On Tuesday, the company announced a partnership with Amada, a machine-tools manufacturer for metal fabrication. The two companies will jointly develop a second generation suite of kilowatt class giber lasers with up to 4 kilowatt output power.
Marathon Oil Corp. fared second best on the S & P 500 index this quarter, rising 43.96%. Looking ahead to the second quarter, the company announced Friday that its subsidiary Marathon Oil (East Texas) LP has entered into a joint venture agreement for the development of the Eagle Ford and Buda formations in Wilson County, Texas, with Lucas Energy, Inc.(LEI), an independent oil and gas company.
Houston-based Tesoro Corp., which posted a net loss of $29 million for 2010, bounced back in the 2011 first quarter, with its stock rising 44.7%. The company, whose chief executive and president Greg Goff received compensation valued at $8.9 million in 2010, is the second-largest U.S. independent refiner.
Several technology companies and an insurance and financial organization were among the worst five performing stocks this quarter, according the S & P 500 index.
Although Dow Jones reported earlier this month that F5 added nine new videos to its web media collection to illustrate how it technologies aided in optimizing specific applications and Microsoft server virtualization solutions, the shares fell 21.2% in the first quarter.
“With dynamic optical networking, packet switching and OTN technology on one platform, service providers can rely on unparalleled flexibility and resiliency in their optical networks,” said Tellabs executive vice president, Dan Kelly of the company’s products in a March 15 release. Still, Tellabs’ shares fell 22.71% in the first quarter.
The holding company for Hudson City Savings Bank had a 24.0% loss last quarter. The company reported Monday that it has completed a restructuring of its balance sheet that significantly reduced expensive structured borrowing. This will allow for increased future net interest income and as a result, the Bank expects to be better able to compete in the current and foreseeable residential mortgage marketplace.
American International Group fell 27.2% in the quarter. In a statement earlier this week, AIG said it remains “resolute in [its] goals to restore AIG to full independence from government support and that U.S. taxpayers recoup at least every dollar they have invested in the company.”
Not even a posting on its Web site for a new voice of the Aflac duck could aid Monster Worldwide Inc., which fared the poorest in the first quarter of 2011. Monster’s shares fell 32.7% during the quarter.
Several technology companies struggled during the first quarter, while oil names prospered. Here's a look at the five best and worst performing stocks.