Lululemon, Aceto Surge 10%; National Semi Drops

Devan Biswas
10 Sep, 2010
New York City

National Semiconductor Corp dropped 4% after it forecasted lower than estimated second quarter sales. Lululemon Athletica Inc spared 10% after the athletic wear maker reported sharply higher quarterly earnings.

[R]10:40 AM New York – National Semiconductor Corp dropped 4% after it forecasted lower than estimated second quarter sales. Lululemon Athletica Inc spared 10% after the athletic wear maker reported sharply higher quarterly earnings. TRW Automotive Holdings dropped after a group of shareholders plan to sell shares.[/R]

Of the stocks in the Dow, 14 increased, 15 decreased and 1 was unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, Chevron Corporation led the gainers with a rise of 1.027% followed by increase in The Home Depot, Inc. of 0.78%, in E. I. du Pont de Nemours and Company of 0.52%, in The Procter & Gamble Company of 0.48%, Bank of America Corporation of 0.38%.

The Travelers Companies, Inc. led the decliners with a fall of 1.29% followed by decline in Cisco Systems, Inc. of 0.97%, in Hewlett-Packard Company of 0.79%, in Microsoft Corporation of 0.50% and in American Express Company of 0.44%.

Other Movers

Aceto Corporation ((ACET)) soared 10.1% or 62 cent to $6.72 after the biopharmaceuticals reported fiscal fourth quarter net sales increased 41.4% to $105.8 million compared to $74.8 million for the same period a year ago. Net income rose 303.2% to $4.2 million or 17 cent per diluted share compared to net income of $1.1 million or 4 cent per diluted share in the same quarter a year ago.

For the fiscal year net sales increased 7.4% to $346.6 million compared to $322.6 million for the same period a year ago. Net income $6.6 million or 26 cent per diluted share compared to net income of $8.6 million or 35 cent per diluted share same period a year ago.

Brady Corporation ((BRC)) fell 0.6% or 19 cent to $27.28 after the manufacturer of identification solutions reported fiscal fourth quarter net sales increased 12.4% to $322.9 million compared to $287.2 million for the same quarter a year ago. Net income gained 12.4% to $21.6 million or 41 cent per diluted share compared to net income of $19.2 million or 36 cent per diluted share in the same quarter a year ago.

For the fiscal year net sales increased 4.2% to $1.26 billion compared to $1.21 billion for the same period of 2009. Net income rose 16.9% to $82.0 million or $1.55 per diluted share compared to net income of $70.1 million or $1.32 per diluted share for the prior year.

Capstead Mortgage Corp ((CMO)) dropped more than 5% to $11.15 after the real estate trust manager of mortgages cut its third quarter dividend to 26 cents from 36 cents.

Dell Inc ((DELL)) dropped as much as 3% to $12.19 after a broker lower its rating on the company.

Diodes Incorporated ((DIOD)) fell 0.3% or 5 cent to $15.35 after the manufacturer of high-quality application specific standard products raised its third quarter revenue guidance between $161 million and $166 million from its prior guidance between $158 million and $164 million.

John Wiley & Sons, Inc. ((JW.A)) increased 1.1% or 46 cent to $38.98 after the book publisher reported first quarter revenues grew 5% to $407.94 million from $388.38 million in the prior-year quarter. Net income in the quarter increased 64% to $44.05 million or 72 cents per diluted share, compared with net income of $26.88 million or 45 cents per share in the same quarter last year.

Korn/Ferry International ((KFY)) rose 0.6% or 10 cent to $15.61 after the talent management solutions provider reported first quarter revenue surged 48.6% to $183.16 million from $123.28 million for the year-ago period. Net income in the quarter was $10.90 million or 24 cents per diluted share, compared to a net loss of $14.27 million or 33 cents per share for the previous year.

Lululemon Athletica Inc. ((LULU)) soared 10.2% or $3.65 to $39.51 after the athletic and yoga apparel maker second quarter revenue increased 55.8% to $152.2 million from $97.7 million a year ago quarter. Net income in the quarter was $21.79 million or 30 cents per diluted share compared to a net income of $9.24 million or 13 cents per share from a year ago.

National Beverage Corp. ((FIZZ)) gained 0.9% or 14 cent to $14.95 after the beverage maker reported first quarter net sales rose 1.4% to $165.03 million from $162.83 million in the year-ago quarter. Net income in the quarter climbed 23% to $12.05 million or 26 cents per diluted share, compared to net income of $9.79 million or 21 cents per share in the prior-year quarter.

National Semiconductor Corporation ((NSM)) plunged 5.9% or 77 cent to $12.13 after the semiconductor company said first quarter net sales rose 31% to $412.0 million from $314.4 million in the same quarter last year. Net income in the quarter tripled 198% to $88.8 million or 36 cents per diluted share, compared to net income of $29.8 million or 13 cents per share for the year-ago quarter.

Quantum Fuel Systems Technologies Worldwide, Inc ((QTWW)) surged 4.2% or 2 cent to $0.49 after the integrated alternative energy company reported first quarter fiscal 2011 revenue was $3.6 million from $3.1 million a year ago quarter. Net loss in the quarter was $1.6 million or 1 cents per diluted share compared to a net loss of $12.3 million or 12 cents per share from a year ago.

Texas Instruments Inc. ((TXN)) fell 0.4% or 10 cent to $23.74 after the chipmaker narrowed its earnings and revenue outlook for the third quarter. The company estimates earnings of $0.66 to $0.72 per share, compared to its prior estimate of $0.64 to $0.74 per share. Revenue is expected in the range of $3.62 billion to $3.78 billion, compared to the previous target of $3.55 billion to $3.85 billion.