Fossil, McDermott Rise; Nuance, Pegasystems Fall

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

U.S. stocks traded lower after commodities and resource stocks declined. China said July imports grew at the slowest pace in a year. Fossil, Inc surged after first quarter sales increased 30%. McDonald

[R]11:45 AM New York – U.S. stocks traded lower after commodities and resource stocks declined. China said July imports grew at the slowest pace in a year. Fossil, Inc surged after first quarter sales increased 30%. McDonald’s July same store sales increased 7%. MBIA Inc quarterly net increased.[/R]

AgFeed Industries Inc ((FEED)) decreased 7.9% or 22 cent to $2.54 after the animal nutrition producer reported second quarter revenue fell $37.66 million from $38.53 million in the same quarter last year. Net income in the quarter declined $2.95 million or 7 cents per diluted share, compared to net income of $1.23 million or 3 cents per share for the year-ago quarter.

Fossil, Inc. ((FOSL)) surged 7.5% or $3.22 to $45.69 after the fashion accessories and watch retailer said second quarter net sales for the quarter surged 30.6% to $412.56 million from $315.87 million in the same quarter last year. Net income in the quarter soared 227.9% to $54.49 million or 80 cents per diluted share as against $16.62 million or 25 cents per share in the prior-year quarter.

Grand Canyon Education Inc ((LOPE)) plunged 8.7% or $1.76 to $18.41 after the education services reported second quarter net service revenue increased 55% to $97.5 million from $62.9 million in the previous year. Net income in the quarter increased 62.2% to $12.4 million or 27 cent per share from $7.6 million or 17 cent per share in the previous year.

Kohlberg Kravis Roberts & Co. ((KFN)) fell 0.5% or 5 cent to $8.85 after the investment firm second quarter fee revenues soared 69%% to $87.07 million from $51.48 million in the year-ago quarter. Net income attributable to the company plunged 92% to $29.91 million or 15 cents per unit from $365.83 million or 70 cents per unit in the same quarter last year.

Lions Gate Entertainment Corp. ((LGF)) dropped 1% or 7 cent to $6.51 after the motion picture maker reported first-quarter revenues decreased 13.9% to $326.58 million from $379.22 million last year. Net loss in the quarter was $64.07 million or 54 cents per diluted share compared to a profit of $36.35 million or 30 cents per share a year-ago quarter.

McDermott International Inc. ((MDR)) gained 3.2% or 45 cent to $14.27 after the engineering and construction firm said second quarter revenue fell 15% to $1.33 billion from $1.56 billion in the same quarter last year. Net income in the quarter declined 18% to $76.0 million or 32 cents per diluted share, compared to $92.6 million or 40 cents per share for the year-ago quarter.

McDonald’s Corp. ((MCD)) fell 0.9% or 64 cent to $72.28 after the fast-food chain retailer reported a 7% increase in its global comparable sales for July. Beverages, premium menu offerings and breakfast items were the main drivers.

MBIA Inc ((MBI)) increased 5.2% or 48 cent to $9.67 after the insurance company said second-quarter total revenue gained $179.25 million and net income in the quarter surged $1.3 billion or $6.32 a share from $895 million or $4.30 a share a year earlier.

Nuance Communications Inc. ((NUAN)) plunged 10.5% or $1.83 to $15.54 after the speech-based solutions provider stated third quarter revenue rose 13.4% to $273.2 million from $241.0 million in the same quarter last year. Net loss in the quarter narrowed 46.4% to $1.5 million or 1 cent per diluted share, compared to a net loss of $2.8 million or 1 cent per share in the prior-year quarter.

Pegasystems Inc ((PEGA)) declined 17.9% or $5.05 to $24.60 after the software to automate business processes company reported second quarter total revenues surged 29% to $82.2 million from $63.9 million in the previous year. Net loss in the quarter was $8.2 million or $0.22 per share compared to a profit of $11.2 million or $0.30 per share a year ago.

Penwest Pharmaceuticals Co ((PPCO)) surged 5.1% or 24 cent to $4.96 after the Pharmaceuticals company said second quarter net service revenue increased 159% to $13.6 million from $5.2 million in the previous year. Net income in the quarter rose $8.4 million or $0.26 per share from net loss of $2.1 million or $0.07 per share in the previous year.

QuinStreet Inc. ((QNST)) advanced 12.4% or $1.25 to $11.26 after the internet marketing company reported fourth quarter fiscal 2010 total revenue increased 31% to $88.5 million from $67.8 million in same quarter of year ago. Net income in the quarter rose to $6.4 million or 13 cents a share from $5.2 million or 12 cents a share a year earlier.

Fiscal 2010 total revenue increased $334.83 million from $260.53 million in fiscal year of 2009. Net income rose to $20.5 million or 46 cents a share from $17.2 million or 39 cents a share a year earlier.

ViaSat Inc. ((VSAT)) fell 4.9% or $1.83 to $35.02 after the satellite hardware supplier company said first quarter revenue increased $192.0 million from $158.4 million a year ago. Net income in the quarter fell to $0.34 million or 8 cents a share from $0.83 million or 25 cents a share a year earlier.