Accenture, Gymboree, MedQuist Rise; Teekay Falls

Bikram Pandey
01 Oct, 2010
New York City

Accenture Plc soared more than 5% after quarterly net surged 75%. Christopher & Banks Corporation after quarterly same store sales increased 1%. Whirlpool Corporation declined after the company lowered its annual earnings outlook.

[R]11:30 AM New York – Accenture Plc soared more than 5% after quarterly net surged 75%. Christopher & Banks Corporation after quarterly same store sales increased 1%. Whirlpool Corporation declined after the company lowered its annual earnings outlook. Gymboree Corp surged on the talks of company going private.[/R]

Of the stocks in the Dow, 23 increased, 5 decreased and 2 were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, Alcoa Inc. led the gainers with a rise of 1.82% followed by increase in The Boeing Company of 1.41%, in General Electric Company of 1.05%, in JPMorgan Chase & Co. of 1% and AT&T Inc. of 1%.

Hewlett-Packard Company led the decliners with a fall of 2.42% followed by decline in Caterpillar Inc. of 0.52%, in Travelers Companies, Inc. of 0.29%, in Wal-Mart Stores, Inc. of 0.17% and in Merck & Co., Inc. of 0.10%.

Other Movers

Accenture Plc ((ACN)) soared 5.6% or $2.38 to $44.87 after the technology outsourcing and consulting firm said fourth quarter revenues increased 5.8% to $5.83 billion from $5.51 billion in the same quarter last year. Net income in the quarter surged 75% to $445.5 million or 66 cents per diluted share, compared with net income of $254.7 million or 39 cents per share in the prior-year quarter.

Aehr Test Systems ((AEHR)) declined 6.2% or 10 cent to $1.49 after the memory test equipment maker reported first quarter revenues soared 69% to $2.2 million from $1.3 million in the prior-year quarter. Net loss generated in the quarter was $1.5 million or 17 cents per diluted share, compared to net income of $961,000 or 11 cents per share in the year-ago quarter.

AZZ incorporated ((AZZ)) slumped 5.2% or $2.25 to $40.59 after the manufacturer of electrical products and a provider of galvanizing services said second quarter revenues rose 5% to $99.6 million, compared to $95.2 million for the same quarter last year. Net income in the quarter declined 13.5% to $9.6 million or 77 cents per diluted share compared with net income of $11.1 million or 89 cents per share last year.

Christopher & Banks Corporation ((CBK)) plunged 15.9% or $1.26 to $6.65 after the retailer of women’s apparel reported second quarter revenue was $101.3 million from $101.2 million last year. Same store sales increased 1%. Net loss for the period was $2.5 million or 7 cents per diluted share compared to a net loss of $2.1 million or 6 cents per share a year ago.

DemandTec, Inc.((DMAN)) soared 7.7% or 73 cent to $10.14 after the business software and service provider stated second quarter revenue rose 3.03% to $20.39 million, compared to $19.8 million in last year period. Net loss in the quarter narrowed 6.5% to $2.9 million or 9 cents per diluted share, compared to a loss of $3.1 million or 11 cents per share in the prior-year quarter.

Gymboree Corp ((GYMB)) surged more than 16% to $48.67 after the Wall Street Journal reported the children''s clothing retailer is exploring a possible sale of the company, and could be taken private by potential private-equity buyers, citing people familiar with the matter. The company is yet to comment on the report.

Lawson Software, Inc. ((LWSN)) decreased 4.6% or 39 cent to $8.08 after the enterprise software provider reported first quarter revenues increased 3.4% to $174.7 million from $169 million last year, reflecting the growth in maintenance services. Net income for the quarter surged 60% to $9.6 million or 6 cents per diluted share compared with net income of $6.0 million or 4 cents per share a year ago.

MedQuist Inc ((MEDQ)) surged more than 26% to $10.89 after the company announced to pay one-time dividend of $4.70.

Resources Connection, Inc. ((RECN)) surged 8.9% or $1.23 to $14.99 after the professional service provider reported first quarter revenue increased 4.6% to $123.71 million from $118.26 million last year. Net income for the quarter was $1.23 million or 3 cents per diluted share, compared to a loss of $7.19 million or 16 cents per share in the previous year.

SMART Modular Technologies, Inc ((SMOD)) slipped 3.8% or 23 cent to $5.80 after the maker of electronic subsystems said fourth quarter revenues surged 119% to $218.7 million from $99.8 million from a year ago. Net income for the quarter was $17.0 million or 26 cents per diluted share, compared to a net loss of $0.3 million or a breakeven per share in the year-ago quarter.

Teekay Tankers Ltd ((TNK)) declined more than 7% to $12.11 after the oil tanker fleet said in a filing to sell 8.2 million shares.

Trio-Tech International ((TRT)) increased 3.8% or 18 cent to $4.90 after the provider of third-party semiconductor testing and burn-in services reported fourth quarter revenue tripled 197.4% to $12.874 million compared to $4.328 million for the fourth quarter of fiscal 2009. Net income in the quarter was $0.39 million or 12 cents per diluted share versus a loss of $0.65 million or 21 cents per share in the year-ago period.

Whirlpool Corporation ((WHR)) fell 1.6% or $1.18 to $79.78 after the home appliance maker lowered its annual earnings forecast after including the $91.8 million antitrust fine to be remitted by its indirect subsidiary Embarco for conspiring to fix prices of compressors.

Whirlpool now expects full-year 2010 earnings in a range of $7.80 to $8.30 per share, down from the prior range of $9.00 to $9.50 per share.