Big Lots, Con-Way Drop; Atmel Surges

123jump.com Staff
05 Aug, 2010
New York City

Retailers traded mixed after the release of same store sales. Big Lots led the decliners in the S&P 500 index with a loss of 7%. Con-way dropped 9.6% after earnings plunged. Atmel Corp surged after earnings nearly soared ten-fold.

[R]11:50 PM New York – Retailers traded mixed after the release of same store sales. Big Lots led the decliners in the S&P 500 index with a loss of 7%. Con-way dropped 9.6% after earnings plunged. Atmel Corp surged after earnings nearly soared ten-fold.[/R]

Retailers were in focus after the release of same store sales in July. Big Lots dropped more than 7% after it reported 3.8% increase in sales in the second quarter. The lower than expected increase also dragged other discounters like Ross Stores and TJX.

The Allstate Corporation ((ALL)) rose 1.8% 54 cent to $29.15 after second quarter net declined 63% to $145 million from $389 million a year ago quarter. Earnings per share dropped to 27 cents from 72 cents a share. Combined ratio in the quarter was 104.4%, a declined from 116.3% in the period a year ago. The company increased rates in 14 states by 11.3%.

99 Cents Only Stores ((NDN)) rose 0.2% or 4 cent to $17.02 after the retailer said fiscal first quarter sales increased to $346 million from $332 million in the quarter a year ago. Net earnings in the period increased to $16.8 million from $9.5 million and earnings per share increased to 24 cents from 14 cents.

Auto Nation Inc ((AN)) gained 1.6% or 37 cent to $24.08 after the auto retailer said July new auto sales increased 9% from a year ago and surged 22% from June 2010. Luxury auto sales increased 12% from a year ago to 3,135 units.

Alamo Group, Inc ((ALG)) fell 0.4% or 12 cent to $24.45 after the second quarter sales increased 19% to $134.3 million from a year ago quarter. Net income increased 63% to $4.9 million from $3 million and earnings per share increased to 41 cents from 30 cents.

Atmel Corporation ((ATML)) surged 19.8% or $1.03 to $6.23 after second quarter sales increased 13% to $348.5 million from $284.5 million. The loss in the quarter on GAAP basis was $36.4 million compared to profit of $16.6 million. Earnings per share were 8 cent loss compared to 4 cent profit in the quarter a year ago.

Adjust net in the quarter increased to $50.8 million or 11 cents a share compared to $25.5 million or 5 cents a share.

Alpha Natural Resources, Inc ((ANR)) rose 0.9% or 42 cent to $42.16 after second quarter revenues increased $894.1 million from $335 million in the quarter a year ago. Net income in the period increased to $38.8 million compared to $15.4 million a year ago and earnings per share increased to 32 cents from 24 cents a share.

Amkor Technology, Inc ((AMKR)) surged 7.7% or 45 cent to $6.27 after second quarter sales increased 16% to $749 million from $646 million a year ago. Gross margin increased to 24% from 21% in the quarter a year ago.

Earnings soared to $59 million from $9 million in the quarter a year ago and jumped from $44 million in the previous quarter.

Con-way Inc. ((CNW)) declined 10.3% or $3.45 cent to $29.92 after second quarter revenues increased 23.7% to $1.31 billion from $1.05 billion a year ago. Earnings in the period plunged to $13.86 million from $31.4 million in the quarter a year ago. Earnings per share plunged to 27 cents from 68 cents a year ago.