U.S. Movers: BJ

Mukesh Buch
17 Nov, 2010
New York City

BJ''s third quarter net sales rose 4.8%. Chico''s net income increased 27%. Sina Corp. net income in the quarter surged 87%. Target earnings in the quarter rose 23% to $535 million. Warner Music Group fourth quarter total revenues decreased 13%.

[R]10:30 AM New York – BJ's third quarter net sales rose 4.8%. Chico's net income increased 27%. Sina Corp. net income in the quarter surged 87%. Target earnings in the quarter rose 23% to $535 million. Warner Music Group fourth quarter total revenues decreased 13%.[/R]

Of the stocks in the Dow, 13 increased, 14 decreased and none were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, Merck & Co., Inc. led the gainers with a rise of 2.35% followed by increase in Cisco Systems, Inc. of 0.69%, in The Travelers Companies, Inc. of 0.57%, in McDonald’s Corporation of 0.41%, in Caterpillar Inc. of 0.34%.

AT&T Inc. led the decliners with a fall of 0.53%, followed by decline in Exxon Mobil Corporation of 0.48%, in American Express Company of 0.45%, in The Home Depot, Inc. of 0.44%, in 3M Company of 0.43%.

Other Movers

BJ's Wholesale Club, Inc. (BJ) gained 2.5% or $1.19 to $47.36 after the warehouse club chain operator reported third quarter net sales rose 4.8% to $2.57 billion from $2.45 billion in the prior year period on comparable club sales rise of 2.5%. Net income in the quarter increased 32.2% to $22.96 million or 43 cents per diluted share, compared to $17.37 million or 32 cents per share in the year-ago quarter, mainly reflecting strong net sales and comparable club sales growth.

Bob Evans Farms, Inc. ((BOBE)) soared 6.8% or $2.05 to $31.87 after the restaurant company reported second quarter net sales fell 1.8% to $417.0 million, from $424.8 million in the prior-year quarter. Net income for the quarter dropped 50% to $7.79 million or 26 cents per diluted share, compared to $15.48 million or 50 cents per share last year.

Chico's FAS, Inc. ((CHS)) surged 6.7% or 68 cent to $10.75 after the specialty retailer reported third quarter net sales improved 8.1% to $483.02 million from $446.86 million in the prior year''s third quarter. Consolidated comparable store sales grew 3.1% for the current quarter compared with a 12.8% rise for the same period a year ago. Net income in the quarter increased 27% to $28.84 million or 16 cents per diluted share, compared to $22.74 million or 13 cents per share last year.

Giant Interactive Group Inc. ((GA)) increased 2.4% or 17 cent to $7.04 after the online game developer reported third quarter net revenue rose 17% to RMB338.7 million, from RMB290.2 million in the prior-year quarter. Net income in the quarter increased 5.6% to RMB208.7 million or RMB 0.89 per share, compared to RMB197.7 million or RMB 0.84 per share in the previous-year quarter.

Griffon Corporation ((GFF)) tumbled 3.1% or 40 to $12.48 after the maker of communication systems, building and plastics products said fourth quarter revenue increased 6% to $348 million from $328 million last year. Net loss for the quarter was $1.7 million or 3 cents per diluted share, compared with net income of $11.9 million or 20 cents per share a year ago.

Hot Topic, Inc. ((HOTT)) advanced 2.5% or 14 cent to $5.58 after the mall and Web-based specialty retailer reported third quarter total sales decreased 3.4% to $183.2 million from $189.6 million for the same quarter a year ago period. Comparable sales in the quarter declined 5.0%. Net income in the quarter decreased to $0.4 million or 1 cent per diluted share compared to $5.8 million or 13 cent per share a year ago.

SINA Corporation ((SINA)) surged 7.1% or $4.06 to $61.05 after the China based online media company reported third quarter revenue increased 12% to $108.2 million, from $96.3 million a year ago period. Net income in the quarter surged 87% to $31.3 million or 48 cent per diluted share, compared to $16.7 million or 29 cent per share a year ago period.

Target Corporation ((TGT)) gained 3.4% or $1.82 to $55.36 after the discount retailer reported third quarter sales increased 3.0% to $15.2 billion from $14.8 billion in 2009, due to a 1.6% increase in comparable-store sales combined with the contribution from new stores. Net earnings in the quarter rose 23% to $535 million or 74 cents per diluted share, compared to $436 million or 58 cents per share in the year-ago quarter.

VanceInfo Technologies Inc. ((VIT)) rose 0.5% or 19 cent to $34.61 after the IT services firm reported third quarter net revenues soared 39.0% to $55.9 million, from $40.2 million in the third quarter of 2009. Net income in the quarter surged 33.9% to $7.7 million or 18 cents per diluted share, compared to net income of $5.8 million or 14 cents per share in the third quarter of 2009.

Warner Music Group Corp. ((WMG)) plunged 7.6% or 45 cent to $5.41 after the music content company said fourth quarter total revenues decreased 13% to $752 million from $867 million for the same quarter a year ago period. Net loss in the quarter increased to $46 million or 31 cent per diluted share compared to $18 million or 12 cent per share a year ago period.

For the fiscal year net revenue decreased 6.7% to $2,984 million from $3,198 million for the same quarter a year ago period. Net loss increased to $143 million or 96 cent per diluted share compared to $100 million or 67 per share a year ago period.

Woodward Governor Company ((WGOV)) rose 0.2% or 9 cent to $32.62 after the energy control system maker reported fourth quarter net sales increased 13% to $412.0 million from $364.5 million for the same quarter a year ago period. Net earnings in the quarter increased to $32.7 million or 47 cent per diluted share compared to $23.8 million or 34 cent per share a year ago period.

For the fiscal year net revenue increased 2% to $1.46 billion from $1.43 billion for the same quarter a year ago period. Net earnings increased to $110.8 million or $1.59 per diluted share compared to $94.4 million or $1.37 per share a year ago.