Cisco, Estee Lauder Fall; Advance Auto Rises

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

U.S. stocks traded lower and three popular indexes declined. Aegean Marine plunged as much as 23% after it posted lower than expected profit. Cisco dropped 10% after it missed revenues estimate. Semiconductor industry stocks declined.

[R]10:40 AM New York – U.S. stocks traded lower and three popular indexes declined. Aegean Marine plunged as much as 23% after it posted lower than expected profit. Cisco dropped 10% after it missed revenues estimate. Semiconductor industry stocks declined.[/R]

Advance Auto Parts, Inc. ((AAP)) rose 3.4% or $1.85 to $53.76 after the retailer of automotive aftermarket parts reported second quarter sales increased 7.6% to $1.42 billion from $1.32 billion in the same quarter last year. Net income in the quarter soared 25.7% to $100.9 million or $1.16 per share compared to net income of $80.3 million or 83 cents per share in the prior-year quarter.

Cisco Systems, Inc. ((CSCO)) plunged 9.7% or $2.28 to $21.45 after the computer networking gear maker said fourth quarter net sales rose 27% to $10.84 billion from $8.54 billion in the same quarter last year. Net income in the quarter surged 79% to $1.9 billion or 33 cents per share, compared to $1.1 billion or 19 cents per share for the year-ago quarter

General Motors Corporation ((MTLQQ)) soared 6.3% or 2 cent to 37 cent after the automaker stated second quarter sales rose 5.4% to $33.2 billion, versus $31.5 billion in the first quarter. Net profit in the quarter surged 50.3% to $1.3 billion as against net profit of $865 million in the preceding quarter.

Kohl''s Corporation ((KSS)) declined 3.1% or $1.48 to $46.30 after the department store chain said second quarter net sales advanced 7.6% to $4.10 billion from $3.81 billion in the year-ago quarter on comparable store sales rise of 4.6%. Net income in the quarter increased 13.5% to $260 million or 84 cents per diluted share compared to net income of $229 million or 75 cents per diluted share, a year ago.

Sara Lee Corp. ((SLE)) fell 1.8% or 27 cent to $14.20 after the food products maker stated fourth-quarter net sales edged higher 4.2% to $2.77 billion from $2.66 billion in the comparable period. Net income in the quarter was $187 million or 28 cents per diluted share versus a net loss of $14 million or 2 cents per share in the prior-year period.

The Estee Lauder Companies Inc. ((EL)) decreased 5% or $3.06 to $57.29 after the cosmetics maker said fourth quarter sales increased 9.5% to $1.84 billion from $1.68 billion in the comparable prior-year period. Net earnings in the quarter were $23.9 million, or 12 cents per diluted share, compared to a net loss of $17.9 million or 9 cents per share last year.