RiM, Winn-Dixie Fall; Saks Surges

Bikram Pandey
31 Aug, 2010
New York City

U.S. stocks traded sideways after the confidence index inched higher. Research In Motion Ltd declined more than 2%. DSW Inc declined after second quarter net doubled. Dollar General Corp declined after second quarter net soared 51%.

[R]11:15 AM, August 31, 2010, New York – U.S. stocks traded sideways after the confidence index inched higher. Research In Motion Ltd declined more than 2%. DSW Inc declined after second quarter net doubled. Dollar General Corp declined after second quarter net soared 51%.[/R]

Of the stocks in the Dow, 3 increased, 26 decreased and 1 was unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, The Procter & Gamble Company led the gainers with a rise of 0.13% followed by increase in JPMorgan Chase & Co. of 0.03%, in Kraft Foods Inc. of 0.01%.

Cisco Systems, Inc. led the decliners with a fall of 1.40% followed by decline in Intel Corporation of 1.34%, in Hewlett-Packard Company of 1.01%, and in The Walt Disney Company of 0.99%.

Other Movers

Allied Healthcare Products, Inc. ((AHPI)), the respiratory care products maker reported fourth quarter net sales declined 7.9% to $11.67 million from $12.71 million in the previous year's fourth quarter. Net income in the quarter was $86.26 thousand or 1 cent per diluted share compared to a net loss of $16.08 million or $2.04 per share in the comparable quarter a year ago.

The Bank of Nova Scotia ((BNS)) fell 0.5% or 27 cent to $48.61 after the financial institution reported third quarter revenue increased $3.78 billion compared to $3.77 billion in the same quarter of year ago. Net income in the quarter rose 14% to $1.06 billion or 98 cents per diluted share compared to net income of $931 million or 87 cents per share in the same quarter last year.

Dollar General Corp. ((DG)) fell 0.6% or 19 cent to $27.19 after the discount retailer said second quarter sales increased 10.8% to $3.21 billion from $2.90 billion in the 2009 second quarter on same-store sales rise of 5.1%. Net income in the quarter soared 51% to $141.20 million or 41 cents per diluted share compared to net income of $93.59 million or 29 cents per share in the same quarter last year.

Donaldson Company, Inc. ((DCI)) plunged 1.9% or 84 cent to $42.04 after the filtration products maker said fourth quarter net sales rose 22% to $515.24 million from $421.32 million in the same quarter last year. Net income in the quarter surged 117% to $51.2 million or 65 cents per diluted share, compared to net income of $23.6 million or 30 cents per share for the year-ago quarter.

DSW Inc. ((DSW)) declined 2% or 49 cent to $23.30 after the branded footwear specialty retailer reported second quarter net sales grew 12.3% to $415.12 million from $369.49 million a year-ago quarter on same-store sales rise of 12.0%. Net income in the quarter surged 210% to $23.45 million or 52 cents per diluted share compared to net income of $7.57 million or 17 cents per share last year.

Energy Conversion Devices, Inc. ((ENER)) surged 8% or 33 cent to $4.31 after the manufacturer of building-integrated and rooftop photovoltaics stated fourth quarter revenues soared 68% to $86.15 million from $51.42 million a year ago. Net loss in the quarter widened 15.4% to $20.28 million or 48 cents per diluted share compared to net loss of $17.57 million or 41 cents per share recorded last year.

Research In Motion Ltd ((RIMM)) declined 2% to 444.60 after it agreed to provide a monitoring solution to India to meet its national security needs. India said it will test the solution for sixty days and decide if the nation will impose the ban on the Internet and email access through the Blackberry devices.

SWS Group, Inc. ((SWS)) decreased 1.1% or 8 cent to $7.09 after the institutional brokerage firm said fourth quarter net revenues dropped 9.8% to $89.34 million compared to $99.0 million in the year-ago quarter. Net loss in the quarter was $0.31 million or 1 cent per diluted share, compared with a net profit of $3.6 million or 13 cents per share in the same quarter a year ago.

Saks Inc ((SKS)) surged as much as 25% to $8.19 after UK based publication the Daily Mail speculated that the luxury retailer may get a bid for $11 a share from private equity investors.

Teletouch Communications, Inc. slipped 23.6% or 13 cent t 42 cent after the company that offered a suite of telecommunications products and services reported total revenues for fiscal 2010 increased 13.3% to $51.96 million from $45.86 million in the comparable period. Full-year net profit was $1.60 million or 3 cents per diluted share compared with a net loss of $1.92 million or 4 cents per share a year ago.

Winn-Dixie Stores, Inc. ((WINN)) declined 8.9% or 72 cent to $7.30 after the food retailer reported fourth quarter net sales increased 1.8% to $1.74 billion from $1.71 billion a year ago. Net income in the quarter surged 49% to $13.98 million or 25 cents per diluted share compared to net income of $9.39 million or 17 cents per share in the previous year.