AutoZone, SanDisk Fall; Carnival, FactSet Rise

123jump.com Staff
21 Sep, 2010
New York City

AutoZone, Inc declined after the retail said fourth quarter sales increased 9.5%. Carnival Corp increased 2% after third quarter revenues increased 8% to $4.4 billion. FactSet Research Systems Inc. increased revenues and earnings increased 8%.

[R]1:55 PM New York – AutoZone, Inc declined after the retail said fourth quarter sales increased 9.5%. Carnival Corp increased 2% after third quarter revenues increased 8% to $4.4 billion. FactSet Research Systems Inc. increased revenues and earnings increased 8%.[/R]

Of the stocks in the Dow, 12 increased, 18 decreased and none were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, Bank of America Corporation led the gainers with a rise of 1.09% followed by increase in Hewlett-Packard Company of 0.46%, in JPMorgan Chase & Co. of 0.44%, in Exxon Mobil Corporation of 0.37%, The Home Depot, Inc. of 0.35%.

Cisco Systems, Inc. led the decliners with a fall of 1.19% followed by decline in Microsoft Corporation of 0.90%, in Alcoa Inc. of 0.58%, in The Travelers Companies, Inc. of 0.58%, in AT&T Inc. of 0.49%.

Other Movers

Atlas Air Worldwide Holdings Inc ((AAWW)) soared more than 10% after its lifted its full-year earnings outlook to at least $5.30 a share.

AutoZone, Inc. ((AZO)) declined 1.8% or $3.91 to $216.23 after the retailer and distributor of automotive replacement parts and accessories said fourth quarter net sales rose 9.5%to $2.44 billion, from $2.23 billion from a year ago. Domestic same store sales increased 6.7% for the quarter.

Net income in the quarter improved 14% to $268.93 million or $5.66 per share compared with net income of $236.13 million or $4.43 per share last year, reflecting higher sales.

Carnival Corporation ((CCL)) gained 2.2% or 84 cent to $37.91 after the cruise operator reported third quarter revenue was $4.4 billion compared to $4.1 billion for the same period a year ago. Net income were $1.3 billion or $1.62 per diluted share compared to net income of $1.1 million or $1.33 per diluted share period a year ago.

ConAgra Foods, Inc. ((CAG)) plunged 5.5% or $1.26 to $21.11 after the packaged foods company reported first quarter net sales fell 2.4% to $2.82 billion, compared to $2.89 billion in the prior-year quarter. Net income in the quarter declined 11.8% to $146.4 million or 33 cents per diluted share, compared with net income of $165.9 million or 37 cents per share in the same quarter last year.

Cooper Industries plc ((CBE)) increased 1.7% or 83 cent to $48.75 after the electrical products maker raised its financial outlook for the third quarter and lifted its estimates of earnings per share in a range of $0.82 to $0.85.

Cypress Sharpridge Investments Inc ((CYS)) declined more than 6% to $12.98 after it planned to sell 10 million shares and use the capital to expand its residential mortgage securities.

Ennis, Inc. ((EBF)) rose 1.2% or 24 cent to $18.85 after the business products and apparels maker reported second quarter revenues increased 3.8% to $143.03 million from $137.77 million last year. Net earnings in the quarter rose 27% to $12.13 million or 47 cents per diluted share compared to net earnings of $9.55 million or 37 cents per share in the previous year.

Exar Corporation ((EXAR)) decreased 2.8% or 17 cent to $5.68 after a fabless semiconductor company announced a revision to its fiscal 2011 second quarter guidance. The company now expects revenue for the second quarter to be between $36.0 million and $36.5 million, compared to prior estimate of $40 million to $42 million.

FactSet Research Systems Inc. ((FDS)) rose 4% or 42 cent to $84.03 after the financial data provider reported fourth quarter revenues grew 8% to $168.23 million from $155.46 million a year earlier. Net income in the quarter rose 8.3% to $39.29 million or 83 cents per diluted share compared with net income of $36.28 million or 74 cents per share in the previous year.

Hatteras Financial Corp ((HTS)) declined more than 5.55 to $29.01 after the real estate investment trust said it plans to sell 5 million shares.

Makemytrip Ltd ((MMYT)) dropped more than 4% to $36.25 after the online travel agency in India was downgraded by Soleil Securities Corp in a research note on the company valuation.

SanDisk Corp ((SNDK)) dropped more than 5% to $35.93 after the maker of flash memory maker was downgraded by Sterne, Agee & Leach in a research note to clients.

TeleNav, Inc. ((TNAV)) soared 8.5% or 43 cent to $5.49 after the provider of wireless location-based services amended its agreement with Tele Atlas and Sprint and reaffirmed its outlook for the first quarter, and provided guidance for the full fiscal year ending June, 2011.

For the first quarter, TeleNav continues to expect GAAP net income of $10 million or $0.22 per share and for fiscal year 2011, the company anticipates GAAP net income of $23 million to $25 million, or $0.50 to $0.55 per share.