U.S. Movers: Autodesk, Benihana, Tech Data

Mukesh Buch
22 Nov, 2010
New York City

Cyberonics, second quarter net revenues surged 17% to $47.5 million. America

[R]10:30 AM New York – Cyberonics, Inc. second quarter net revenues surged 17% to $47.5 million. America’s Car-Mart, Inc. second quarter net revenue rose 11.2% to $91.8 million. Tech Data Corporation third quarter net sales increased 9.2% to $6.16 billion.[/R]

Autodesk plunged 3.1% third quarter revenue increased 14% driven by strong revenue growth. Dell third quarter revenue rose 19% to $15.39 billion on strong corporate demand. The Gap quarter third quarter net sales increased 2% to $3.65 billion

Of the stocks in the Dow, 2 increased, 28 decreased and none were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, Hewlett-Packard Company led the gainers with a rise of 0.84% followed by increase in Merck & Co., Inc. of 0.31%.

E. I. du Pont de Nemours and Company led the decliners with a fall of 1.85%, followed by decline in JPMorgan Chase & Co. of 1.37%, in Bank of America Corporation of 1.20%, in Chevron Corporation of 1.02%, in General Electric Company of 0.99%.

Other Movers

Benihana Inc. ((BNHNA)) decreased 2.8% or 24 cent to $8.08 after the operator of the nation''s largest chain of Japanese theme and sushi restaurants reported second quarter total revenues increased 4.1% to $72.2 million from $69.3 million last year on strong comparable store sales increase of 4.7%.

Cyberonics, Inc. ((CYBX)) surged 6.1% or $1.70 to $28.90 after the medical device developer reported second quarter net revenues surged 17% to $47.5 million, from $40.7 million in the prior-year quarter. Net income for the quarter was $24.94 million or $0.88 per diluted share, compared to $50.14 million or $1.73 per share for the same quarter of year ago.

Citi Trends, Inc. ((CTRN)) soared 8% or $1.72 to $23.11 after the urban fashion apparel retailer reported third quarter total sales increased 10% to $140.0 million from $127.4 million in the prior-year quarter. Net loss in the quarter was $0.3 million or 3 cent per share compared to net income of $0.6 million or 4 cent per share in the previous-year quarter.

America’s Car-Mart, Inc ((CRMT)) rose 0.9% or 24 cent $25.50 after the automotive retailer reported second quarter net revenue rose 11.2% to $91.8 million from $82.6 million in the prior year''s second quarter. Same store revenue growth 8.1%. Net income in the quarter was $6.18 million or 56 cents per diluted share, compared to $6.30million or 53 cents per share from a year ago.

HiSoft Technology International Limited ((HSFT)) gained 3.6% or $1.01 to $28.50 after the China-based research and development service provider said third quarter total revenues increased 70.8% to $38.9 million from $22.8 million in the year-ago quarter. Net income in the quarter rose 133.6% to $4.8 million, or diluted earnings per ADS was $0.16 compared to $2.0 million in the prior-year quarter compared to $0.10 in the year-ago quarter. The increase reflects strong demand for the information technology and research and development services

Kirkland''s, Inc. ((KIRK)) increased 2.6% or 29 cent to $11.08 after the specialty retailer of home decor and gifts reported third quarter net sales edged higher 0.4% to $92.73 million from $92.39 million in the same quarter last year, reflecting mainly a 2.4% decrease in comparable store sales compared to an 11.3% increase last year. Net income in the quarter plunged 59% to $2.28 million or 11 cents per diluted share, compared to $5.57 million or 27 cents per share in the previous year.

Ituran Location and Control Ltd ((ITRN)) rose 0.09% or 2 cent to $15.81 after the Israel based location-based service provider reported third quarter net revenues surged 16% to $37.1 million, from $32.0 million in the prior-year quarter. Net income for the quarter rose 15.4% to $5.7 million or 27 cent per diluted share, compared to $4.6 million or 22 cent per share for the same quarter of year ago.

Tech Data Corporation ((TECD)) advanced 6.2% or $2.73 to $46.74 after the information technology products distributor reported third quarter net sales increased 9.2% to $6.16 billion from $5.64 billion a year ago. Net income in the quarter rose 17% to $50.46 million or $1.07 per diluted share, compared to $43.14 million or 84 cents per share last year.

Tyson Foods, Inc. ((TSN)) increased 3.7% or 59 cent to $16.22 after the meat protein and food production company reported fourth quarter sales increased 3.2% to $7.44 billion from $7.21 billion in the comparable period a year ago. Net income generated in the quarter was $213 million or 57 cents per diluted share, versus a net loss of $457 million or $1.23 in the prior-year period.

For the fiscal year net revenue increased 17% to $28.43 billion from $26.70 billion for the same quarter a year ago period. Net income increased to $780 million or $2.06 per diluted share compared to net loss $547 million or $1.47 per share a year ago period.

Yingli Green Energy Hold. Co. Ltd. ((YGE)) tumbled 2.1% or 24 cent to $10.90 after the solar energy company said third quarter net revenues soared 47.6% to RMB 3.28 billion from RMB 2.23 billion in the same quarter of last year, helped by a 25.2% increase in PV module shipments. Net income in the quarter surged 277.5% to RMB 456.1 million, from RMB 120.8 million in the prior-year quarter. Earnings per ordinary share and per American Depository Share surged to RMB 2.92 from RMB 0.79 in the comparable quarter of last year.