U.S. Movers: A123 Systems, AgFeed, Jamba, Washington Post

Devan Biswas
10 Nov, 2010
New York City

Grand Canyon Education revenue increased 50%. Polo Ralph Lauren Corp second quarter revenue increased 11%. Tesla Motors third quarter revenue fell to $31.2 million. Washington Post declined as the company

[R]12:45 PM New York – Grand Canyon Education revenue increased 50%. Polo Ralph Lauren Corp second quarter revenue increased 11%. Tesla Motors third quarter revenue fell to $31.2 million. Washington Post declined as the company’s for-profit division face higher scrutiny.[/R]

Of the stocks in the Dow, 4 increased, 26 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 0.59% followed by increase in 3M Company of 0.42%, in JPMorgan Chase & Co. of 0.28%, in Chevron Corporation of 0.12%.

The Boeing Company led the decliners with a fall of 3.24%, followed by decline in Pfizer Inc. of 1.41%, in Verizon Communications Inc. of 1.36%, in AT&T Inc. of 1.34%, in E. I. du Pont de Nemours and Company of 1.34%.

Other Movers

A123 Systems, Inc. ((AONE)) plunged 11.3% to $1.13 to $8.81 after the global automotive manufacturers reported third quarter total revenue increased to $26.2 million from $23.6 million a year ago period. Net loss in the quarter increased to $43.7 million or $0.42 cent per diluted share compared to $22.8 million or $1.78 cent per share same quarter a year ago period.

AgFeed Industries, Inc. ((FEED)) slumped 18.2% or 56 cent to $2.57 after the animal nutrition and commercial hog producing businesse reported third quarter revenues increased to $53.6 million from $45.1 million a year ago period. Net loss in the quarter decreased to $20.6 million or 43 cent per diluted share compared to net income $29.0 million or 7 cent per share same quarter a year ago.

Grand Canyon Education, Inc. ((LOPE)) gained 1.1% or 20 cent to $18.44 after the provider of online postsecondary education services third quarter net revenue increased 49.7% to $98.9 million from $66.1 million a year ago period. Net income in the quarter increased 270% to $12.9 million or 28 cent per diluted share compared to $3.5 million or 8 cent per share same quarter a previous year.

Higher One Holdings, Inc ((ONE)) declined 1.9% or 36 cent to $18.01 after the provider of technology and payment services reported third quarter net revenue increased 82% to $37.2 million from $20.5 million a year ago period. Net income in the quarter increased to $6.4 million or 11 cent per diluted share compared to $4.8 million or 9 cent per share same quarter a year ago.

International Game Technology ((IGT)) slipped 2.4% or 40 cent to $15.92 after the global gaming company said fourth quarter revenue decreased to $496 million from $512 million a year ago period. Net income in the quarter increased to $19.9 million or 7 cent per diluted share compared to net loss $28.6 million or 10 cent per share same quarter a year ago.

For the fiscal year net revenue decreased to $2.0 billion compared to $2.1 million for the same period a year ago. Net income $186.0 million or 62 per diluted share compared to $126.8 million or 43 per diluted share same period a year ago.

Jamba, Inc. ((JMBA)) decreased 8.8% or 22 cent to $2.21 after the holding company reported third quarter decreased 16.3% to $66.1 million from $79.0 million a year ago period. Net loss in the quarter $0.8 million or 2 cent per diluted share compared to net income $2.8 million or 4 cent per share same quarter a last year.

NGAS Resources, Inc. ((NGAS)) declined 17.5% or 10 cent to 49 cent after the exploration and production company reported third quarter revenue rose to $11.0 million from $11.2 million in the same quarter last year. Net loss in the quarter was $2.5 million or 6 cents per diluted share, compared to $1.1 million or 4 cents per share in the prior-year quarter.

Polo Ralph Lauren Corporation ((RL)) surged 7.1% or $7.20 to $108.12 after the apparel, fragrances and home furnishing company said second quarter revenue increased 11% to $1.5 billion, from $1.4 billion in the prior year. Net income in the quarter increased to $205.2 million or $2.09 per diluted share, compared to $177.5 million or $1.75 per share a year ago.

SMART Technologies Inc. ((SMT)) plunged 28.6% or $3.75 to $9.32 after the computer application developer reported second quarter revenue increased 25% to $222.7 million, from $177.8 billion in the prior year. Net income in the quarter plunged to $44.3 million or 38 cents per diluted share, compared to net income of $56.7 million or 33 cents per share a year ago.

Tesla Motors, Inc. ((TSLA)) soared 11.4% or $2.82 to $27.45 after the electric vehicle maker reported third quarter revenue fell to $31.2 million compared to $45.5 million for the same period a year ago. Net loss was $34.9 million or 38 cent per diluted share compared to $4.6 million or 66 cent per diluted share in the same quarter a year ago.

Washington Post Company ((WPO)) declined 1.6% to $384.51 after the owner of the for-profit schools and Kaplan University is facing investigation by the U.S. lawmakers who are increasingly questioning the usefulness and the effectiveness of the programs managed by the company.

Weight Watchers International, Inc. ((WTW)) slumped 6.4% or $2.27 to $32.90 after the diet centers operator reported third quarter revenue rose 3.5% to $330.6 million from $324.5 million in the same quarter last year. Net income in the quarter was $44.4 million or 59 cents per diluted share, compared to $52.6 million or 68 cents per share in the prior-year quarter.