Sealy, American Greetings Fall; Thor Rises

Bikram Pandey
29 Sep, 2010
New York City

American Greetings plunged more than 11% after it reported revenues and profit decline. Family Dollar Stores, Inc after fiscal fourth quarter sales increased 8%. Green Mountain Coffee Roasters Inc. plunged 15% after the SEC opens investigation.

[R]11:20 AM New York – American Greetings plunged more than 11% after it reported revenues and profit decline. Family Dollar Stores, Inc after fiscal fourth quarter sales increased 8%. Green Mountain Coffee Roasters Inc. plunged 15% after the SEC opens investigation.[/R]

Of the stocks in the Dow, 9 increased, 21 decreased and none were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, Hewlett-Packard Company led gainers with a rise of 2.35% followed by increase in Intel Corporation of 0.33%, in International Business Machines Corporation of 0.30%, in Caterpillar Inc. of 0.20%, The Boeing Company of 0.17%.

Cisco Systems, Inc. led decliners with a fall of 1.06% followed by decline in The Travelers Companies, Inc. of 1.06%, in JPMorgan Chase & Co. of 0.98%, in E. I. du Pont de Nemours and Company of 0.85%, in Bank of America Corporation of 0.60%.

Other Movers

Actuant Corporation ((ATU)) rose 0.2% or 6 cent to $22.55 after the manufacturer of a range of industrial products and systems reported fourth quarter sales climbed 19% to $310.36 million, from $261.02 million in the prior-year quarter. Net loss in the quarter was $16.8 million or 22 cents per diluted share, compared to net earnings of $16.5 million or 24 cents per share in the comparable prior-year quarter.

American Greetings Corporation ((AM)) plunged 11.2% or $2.33 to $18.34 after the greeting card company reported second quarter revenue dropped 3.8% to $342.82 million compared to $356.35 million from a year ago. Net income in the quarter plunged 63% to $8.53 million or 21 cents per diluted share compared to net income of $23.12 million or 59 cents per share a year ago.

China Precision Steel, Inc. ((CPSL)) declined 4.8% or 9 cent to $1.77 after the high precision cold-rolled steel products said fiscal fourth quarter revenue increased 41.5% to $36.4 million compared to $25.7 million for the same period a year ago. Net income was $1.27 million or 3 cent per diluted share compared to net income of $2.21 million or 5 cent per diluted share in the same quarter a year ago.

For the fiscal year revenue rose 44.8% to $110.5 million compared to $76.3 million for the same period a year ago. Net income was $5.59 million or 12 cent per diluted share compared to net loss of $0.41 million or 1 cent per diluted share same period a year ago.

Family Dollar Stores, Inc. ((FDO)) gained 2.1% or 95 cent to $44.27 after the discount retail chain operator stated fiscal fourth quarter sales gained 8.0% to $1.957 billion, from $1.811 billion for the fourth quarter of fiscal 2009. Sales in comparable stores increased 6.1%. Net income in the quarter increased 23.0% to $74.0 million or 56 cents per diluted share, compared to net income of $60.1 million or 43 cents per share in the fourth quarter of fiscal 2009.

For the first quarter of fiscal 2011, the company estimates that comparable store sales to increase between 5% and 7% and earnings per share between $0.55 and $0.60 per share compared with $0.49 per share in the first quarter of fiscal 2010.

Green Mountain Coffee Roasters Inc. ((GMCR)) plunged 15.8% or $5.87 to $31.14 after the specialty coffee company revealed that its revenue recognition practices and relationship with one of its fulfillment vendors are being probed by the Securities and Exchange Commission.

Hewlett-Packard Company ((HPQ)) increased 1.5% or 66 cent to $42.28 after the technology company forecast fiscal year 2011 revenue to be in the range of $131.5 billion to $133.5 billion and GAAP earnings of $4.35 to $4.45 per share.

Landec Corporation ((LNDC)) fell 0.6% or 4 cent to $6.09 after the specialty polymer products maker reported first quarter revenues increased 7% to $64.95 million from $60.94 million in the comparable quarter a year ago. Net income in the quarter improved 5.5% to $2.30 million or 9 cents per diluted share compared to net income of $2.18 million or 8 cents per share last year.

Misonix, Inc. ((MSON)) rose 1.8% or 4 cent to $2.25 after the developer of minimally invasive ultrasonic medical device products reported fourth quarter revenues soared 43% to $4.3 million from $3.0 million a year ago. Net loss for the fourth quarter was $1.5 million or 20 cents per diluted share, compared to net income of $2.4 million or 35 cents per share for the year-ago quarter.

ModusLink Global Solutions, Inc ((MLNK)) dropped 14.5% or $1.05 to $6.17 after the technology and venture capital company reported fourth quarter revenue increased 1.3% to $228.1 million from $225.2 million in the year-ago quarter. Net loss in the quarter widened 522% to $25.5 million or 58 cents per diluted share, compared to a net loss of $4.1 million or 9 cents per share in the prior-year quarter.

Matrix Service Company ((MTRX)) fell 3.8% or 35 cent to $8.80 after the construction for the energy related industries reported fiscal fourth quarter revenue was $140.7 million compared to $179.9 million for the same period a year ago. Net income was $0.9 million or 3 cent per diluted share compared to net income of $6.7 million or 26 cent per diluted share in the same quarter a year ago.

For the fiscal year revenue were $550.8 million compared to $689.7 million for the same period a year ago. Net income was $14.4 million or 54 cent per diluted share compared to net loss of $30.6 million or $1.16 per diluted share same period a year ago.

NAPCO Security Technologies, Inc. ((NSSC)) rose 0.5% or 1 cent to $1.89 after the diversified manufacturer of security products reported fourth quarter net sales increased 9% to $20.64 million from $18.98 million a year ago. Net loss in the quarter narrowed 80% to $1.89 million or 10 cents per diluted share, compared to a net loss of $9.22 million or 47 cents per share for the same period a year ago.

Net sales for fiscal 2010 declined 3% to $67.76 million, from $69.57 million a year earlier. Net loss for the year ended June 30, 2010 narrowed 51% to $6.5 million or 34 cents per diluted share, compared to a net loss of $13.38 million or 70 cents per share for the same period a year ago.

Sealy Corporation ((ZZ)) declined 13.6% or 38 cent to $2.40 after the bedding products maker stated third quarter sales declined 0.9% to $346.18 million from $349.57 million last year. Net loss for the quarter was $15.82 million or 16 cents per diluted share, compared to an income of $12.06 million or 5 cents per share in the previous year.

Standard Microsystems Corporation ((SMSC)) decreased 1.8% or 42 cent to $22.06 after the designer of connectivity solutions said second quarter revenues increased 39% to $104.1 million from $75.1 million in the prior-year quarter. Net income generated in the quarter was $12.90 million or 57 cents per diluted share, compared to a net loss of $6.53 million or 30 cents per share in the same quarter a year ago.

Thor Industries, Inc. ((THO)) spurted 14.4% or $4.20 to $33.18 after the recreation and commercial vehicle producer stated fourth quarter sales surged 51% to $663.78 million from $440.92 million last year. Net income in the quarter soared 64% to $40.60 million or 78 cents per diluted share compared with net income of $24.78 million or 45 cents per share a year earlier.