Stocks Fall For The Second Straight Day (FDO, PVH, RWC, AMLN, PNR, RBN)

Stocks fell for the second straight day on Wednesday as durable goods orders came below market expectations, overshadowing a 2% decrease in crude prices.New orders for U.S. manufactured goods rose below expected in February and a gauge of future business investment also missed forecasts, casting a shadow on the manufacturing sector's support of the recovery.

The Dow Jones industrial average was down 34 points, or 0.25%, at 13,164. The Standard & Poor's 500 Index fell 5 points, or 0.35%, at 1,407. The Nasdaq Composite Index slid 5 points, or 0.20%, at 3,114.
This morning, the Commerce Department reported orders for long-lasting goods climbed 2.2% in February, missing the 2.9% anticipated by analysts. The closely watched core capital goods segment, which excludes volatile defense and transportation, rose 1.2% last month.

Family Dollar Stores, Inc.(NYSE:FDO) shares rose about 1% on better than estimated second-quarter earnings. The company reported $136.42 million or $1.15 a share on revenue of $2.46 billion, compared to analysts’ estimates of $1.13 a share on revenue of $2.46 billion. Comparable store sales grew 4.5%.
PVH Corp(NYSE:PVH) was up 0.50% to $90.26 after hitting 52-week high of $92.40 as the company’s fourth quarter profit came ahead of analysts’ estimates. The company earned $86.1 million or $1.18 a share on revenue of $1.53 billion, compared to analysts’ estimates of $1.10 a share on revenue of $1.50 billion.
RELM Wireless Corporation(NYSEAMEX:RWC) shares soared 54% after the company won a contract from the U.S. Department of Homeland Security. The maximum total value of the contract is $3 billion with a two-year base period commencing on March 26, 2012, and three one-year option periods from March 26, 2014 through March 26, 2017.
Amylin Pharmaceuticals, Inc.(NASDAQ:AMLN) added 48% to $22.65 after Bloomberg reported Bristol Myers Squibb Co.(NYSE:BMY) has made a $3.5 billion unsolicited offer to the company.
Pentair, Inc.(NYSE:PNR) surged 15.55% to $46.52 after Tyco International Ltd.(NYSE:TYC) said it would spin off and merge its flow-control business with Pentair.
Robbins & Myers, Inc.(NYSE:RBN) rose 7.22% to $49.14 reporting second-quarter earnings that beat estimates. The company earned 84 cents a share on revenue of $255.93 million, ahead of analysts’ estimates of 74 cents a share on revenue of $238.26 million.