U.S. Movers: Deere, Guess, J. Crew, Tiffany

Mukesh Buch
24 Nov, 2010
New York City

Campbell Soup, first quarter sales decreased 1% to $2.17 billion. Deere & Company fourth quarter total net sales and revenues climbed 35% to $7.20 billion. Guess, Inc net revenue rose 17.4% to $613.90 million. Tiffany third quarter net sales increased 14% to $681.73 million.

[R]10:30 AM New York – Campbell Soup, Company first quarter sales decreased 1% to $2.17 billion. Deere & Company fourth quarter total net sales and revenues climbed 35% to $7.20 billion. Guess, Inc net revenue rose 17.4% to $613.90 million. Tiffany & Co. third quarter net sales increased 14% to $681.73 million.[/R]

Of the stocks in the Dow, 27 increased, 3 decreased and none were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, The Boeing Company led the gainers with a rise of 2.20% followed by increase in Caterpillar Inc. of 1.71%, in The Walt Disney Company of 1.58%, in E. I. du Pont de Nemours and Company of 1.52%, in Intel Corporation of 1.48%.

Hewlett-Packard Company led the decliners with a fall of 1.04%, followed by decline in Verizon Communications Inc. of 0.19%, in The Procter & Gamble Company of 0.10%.

Other Movers

Campbell Soup Company ((CPB)) fell 0.5% or 20 cent to $33.80 after the world''s largest soup company reported first quarter sales decreased 1% to $2.17 billion from $2.20 billion a year ago, even as the company stepped up promotional spending. Net earnings in the quarter dropped 8.2% to $279 million or 82 cents per diluted share, compared to $304 million or 87 cents per share in the prior-year quarter.

Deere & Company ((DE)) rose 0.2% or 21 cent to $76.47 after the farm equipment maker reported fourth quarter total net sales and revenues climbed 35% to $7.20 billion from $5.33 billion in the prior year. Net income generated in the quarter was $457.2 million or $1.07 per share, compared to a net loss of $222.8 million or $0.53 per share last year.

For the fiscal year net revenue increased 13% to $26.0 billion from $23.1 billion for the same quarter a year ago period. Net income surged 114% to $1,865 million or $4.35 per diluted share compared to $873 million or $2.06 per share a year ago period.

Eaton Vance Corp. ((EV)) gained 1.2% or 36 cent to $29.82 after the investment company said fiscal fourth quarter sales increased 19% to $303.6 million from $254.1 million in the comparable period a year ago. Net income in the quarter rose 4% to $50.3 million or 41 cents per diluted share, compared to $48.4 million or 39 cent in the prior year period.

For the fiscal year net revenue increased 26% to $1,122 million from $890.3 million for the same quarter a year ago period. Net income surged 34% to $174.3 million or $1.40 per diluted share compared to $130.1 million or $1.07 per share a year ago period.

Guess, Inc. ((GES)) soared $7.4% or $3.40 to $48.74 after the international fashion house said third quarter total net revenue rose 17.4% to $613.90 million from $522.81 million in the same quarter last year. Net income in the quarter increased 8% to $69.1 million or 75 cents per diluted share, compared to $64.1 million or 69 cents per share for the year-ago quarter.

J. Crew Group, Inc. ((JCG)) fell 0.6% or 28 cent to $43.71 after the apparel retailer stated third quarter revenues increased 4% to $429.3 million from $414.1 million in the same period last year. Net profit in the quarter declined 14% to $37.8 million or 58 cents per diluted share, compared to $43.9 million or 67 cents per share in the prior-year quarter.

Tiffany & Co. ((TIF)) surged 4.1% or $2.43 to $60.70 after the luxury-jewelry retailer reported third quarter net sales increased 14% to $681.73 million from $598.21 million in the comparable period a year ago. Net earnings in the quarter grew 27% to $55.08 million or 43 cents per diluted share, compared to $43.31 million or 34 cents per share a year earlier, boosted by margin expansion and sales growth across all geographic regions.

TiVo Inc. ((TIVO)) tumbled 1.5% or 14 cent to $8.67 after the advanced television technology provider reported third quarter net revenues decreased to $50.9 million from $57.1 million for the same quarter a year ago period. Net loss in the quarter increased to $20.6 million or 18 cent per diluted share compared to $6.4 million or 6 cent per share a year ago.

Verigy Ltd. ((VRGY)) advanced 4% or 34 cent to $8.79 after the advanced test system maker said fiscal fourth quarter revenues increased 3% to $159 million from $154 million for the same quarter a year ago period. Net income in the quarter decreased to $10 million or 17 cent per diluted share compared to $13 million or 21 cent per share a year ago period.

For the fiscal year total revenue increased 67% to $539 million from $323 million for the same quarter a year ago period. Net income decreased to $16 million or $0.26 per diluted share compared to net loss $127 million or $2.17 per share a year ago.