U.S. Movers: Brocade, Cracker Barrel, DSW, HP, Nuance

Mukesh Buch
23 Nov, 2010
New York City

Analog Devices, fourth quarter sales increased 35% to $770 million. Campbell Soup first quarter net revenues fell 1% to $2.17 billion. Hewlett-Packard fourth quarter net revenue rose 8% to $33.28 billion. Medtronic, second quarter worldwide revenue rose 2% to $3.90 billion.

[R]10:30 AM New York – Analog Devices, Inc. fourth quarter sales increased 35% to $770.0 million. Campbell Soup Company first quarter net revenues fell 1% to $2.17 billion. Hewlett-Packard Company fourth quarter net revenue rose 8% to $33.28 billion. Medtronic, Inc. second quarter worldwide revenue rose 2% to $3.90 billion.[/R]

Of the stocks in the Dow, 1 increased, 29 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 1.41%.

Exxon Mobil Corporation led the decliners with a fall of 2.37%, followed by decline in Chevron Corporation of 2.31%, in Alcoa Inc. of 2.18%, in Microsoft Corporation of 1.92%, in E. I. du Pont de Nemours and Company of 1.74%.

Other Movers

Analog Devices, Inc. ((ADI)) fell 0.5% or 18 cent to $35.78 after the mixed-signal and digital signal IC maker reported fourth quarter sales increased 35% to $770.0 million from $720.3 million in the comparable period a year ago. Net income generated in the quarter was $224.0 million or 73 cents per diluted share, compared to $199.5 million or 65 cent in the prior-year period.

For the fiscal year net revenue increased 37% to $2.8 billion from $2.0 billion for the same quarter a year ago period. Net income surged 187% to $712.1 million or $2.33 per diluted share compared to $247.8 million or $0.85 per share a year ago period.

Brocade Communications Systems, Inc. ((BRCD)) plunged 7.1% or 41 cent to $5.30 after the data center networking solution provider said fourth quarter sales increased 5.5% to $550.4 million from $521.8 million a year ago. Net income in the quarter dropped 28% $23.4 million or 5 cents per diluted share, compared to $32.1 million or 7 cent a year ago.

For the fiscal year net revenue increased 7.2% to $2.1 billion from $1.9 billion for the same quarter a year ago. Net income increased to $118.8 million or 25 cent per diluted share compared to net loss of $81.4 million or 20 cent per share a year ago.

Campbell Soup Company ((CPB)) fell 0.8% or 30 cent to $34.53 after the convenience food product manufacturer reported fiscal first quarter net revenues fell 1% to $2.17 billion, from $2.20 billion in the prior-year quarter. Net earnings for the quarter decreased 8% to $279 million or 82 cent per diluted share, compared to $304 million or 87 cent per share for the same quarter of year ago.

Cracker Barrel Old Country Store, Inc. ((CBRL)) declined 6.4% or $3.74 to $54.03 after the operator of a restaurant chain stated first quarter total revenue increased 3% to $598.69 million from $581.18 million last year. Net income in the quarter rose 32% to $23.73 million or $1.01 per diluted share, compared to $18.02 million or 78 cents per share in the prior year.

Daktronics, Inc. ((DAKT)) soared 9.1% or $1.17 to $13.92 after the electronic scoreboards, display system supplier said second quarter net sales increased 10% to $126.9 million from $115.4 million in the prior-year quarter. Net income in the quarter was $7.0 million or 17 cent per share compared to of $4.8 million or 12 cent per share in the previous-year quarter.

DSW Inc. ((DSW)) gained 4% or $1.61 to $41.46 after the branded footwear retailer said third quarter worldwide revenue rose to $489.3 million compared with $444.6 million reported in the same quarter of a year ago. Same store sales increased 10.1%. Net income in the quarter was $35.5 million or 79 cents per diluted share, compared to $26.6 million or 60 cents per share in the prior-year period.

The Company now estimates annual comparable store sales increase approximately 12% and annual diluted earnings per share approximately $2.30 to $2.40 for fiscal 2010, from $1.23 in fiscal 2009.

Dycom Industries, Inc. ((DY)) surged 11.7% or $1.31 to $12.46 after the engineering, construction company reported fiscal first quarter total revenues fell to $247.7 million, from $248.6 million in the prior-year quarter. Net income for the quarter increased to $6.75 million or 18 cent per diluted share, compared to $3.52 million or 9 cent per share for the same quarter of year ago.

Dole Food Company, Inc. ((DOLE)) increased 1.6% or 16 cent to $10.12 after the fresh fruit, vegetables and packaged food producer said third quarter revenue edge up to $1.99 billion from $1.94 billion last year. Net loss in the quarter narrowed to $50.38 million or $0.58 per diluted share, compared to $53.82 million or $1.04 per share a year earlier.

Genesco Inc. ((GCO)) gained 7.9% or $2.86 to $39.01 after the branded and licensed sports apparel, footwear retailer reported third quarter net revenues surged 19% to $464.8 million, from $390.3 million in the prior-year quarter. Comparable store sales increased 9%. Net earnings for the quarter increased to $16.92 million or 72 cent per diluted share, compared to $11.44 million or 50 cent per share for the same quarter of year ago.

Hormel Foods Corporation ((HRL)) advanced 3% or $1.48 to $49.41 after the food product producer reported fourth quarter sales increased 23% to $2.06 billion from $1.67 billion in the comparable period a year ago. Net earnings in the quarter increased 17% to $121.1 million or 90 cents per diluted share, compared to $103.9 million or 77 cent in the prior-year period.

For the fiscal year net revenue increased 11% to $7.2 billion from $6.5 billion for the same quarter a year ago period. Net earnings surged to $399.8 million or $2.92 per diluted share compared to $346.0 million or $2.53 per share a year ago period.

Hewlett-Packard Company ((HPQ)) rose 0.5% or 24 cent to $43.49 the information technology corporation said fourth quarter net revenue rose 8% to $33.28 billion from $30.78 billion in the same quarter last year. Net income for the quarter rose 5% to $2.5 billion or $1.10 per diluted share, compared to $2.4 billion or 99 cents per share for the year-ago quarter.

Net revenue for the fiscal year 2010 increased 10% to $126.03 billion from $114.55 billion last year. For the fiscal year 2010, net income increased 14.3% to $8.8 billion or $3.69 per share, compared to $7.7 billion or $3.14 per share for the fiscal year 2009.

Jack in the Box Inc. ((JACK)) tumbled 7.3% or $1.66 to $20.91 the quick service restaurant operator said fourth quarter sales fell 4% to $563.2 million from $540.3 million a year ago. Net earnings in the quarter tumbled to $4.04 million or 7 cents per diluted share, compared to $40.59 million or 70 cent a year ago.

For the fiscal year net revenue decreased 8.6% to $2.30 billion from $2.47 billion for the same quarter a year ago. Net earnings decreased to $70.21 million or $1.26 per diluted share compared to $118.41 million or $2.05 per share a year ago.

La-Z-Boy Inc ((LZB)) slumped 7.6% or 62 cent to $7.50 after the furniture maker said fiscal second quarter sales decreased 2.6% to $293 million from $301 million for the same quarter a year ago period. Net income in the quarter decreased to $3.9 million or 7 cent per diluted share compared to $6.0 million or 11 cent per share a year ago.

Medtronic, Inc. ((MDT)) slipped 1.9% or 66 cent to $34.04 after the medical technology company said second quarter worldwide revenue rose 2% to $3.90 billion compared with $3.84 billion reported in the second quarter of fiscal 2010. Net earnings in the quarter slid 35% to $566 million or 52 cents per diluted share, compared to $868 million or 78 cents per share in the prior-year period.

Nuance Communications Inc. ((NUAN)) increased 3.7% or 64 cent to $17.75 after the speech, imaging, and keypad solutions provider reported fourth quarter revenue soared 17.7% to $309.8 million, from $263.3 million in the fourth quarter of fiscal 2009. Net income in the quarter plunged 53.3% to $2.1 million or 1 cent per diluted share, compared to $4.5 million or 2 cents per share in the same quarter last year.

Patterson Companies, Inc. ((PDCO)) fell 0.8% or 24 cent to $28.82 after the veterinary and rehabilitation supplier reported third quarter sales increased 5% to $857 million from $815 million for the same quarter a year ago period. Net income in the quarter increased 8% to $53.4 million or 45 cent per diluted share compared to $49.3 million or 41 cent per share a year ago.

Pacific Sunwear of California, Inc ((PSUN)) declined 5.7% or 36 cent to $5.91 after the specialty retailer said third quarter net sales declined 4% to $258 million from $268 million last year on same store sales fall of 3%. Net loss in the quarter narrowed 36.4% to $7 million or 11 cents per diluted share, compared to $11 million or 17 cents per share a year earlier.