U.S. Movers: Altera, Barnes & Noble, Shanda Interactive, Google, Thor

Mukesh Buch
30 Nov, 2010
New York City

Barnes & Noble comparable sales increased 59%, driven by digital initiatives but losses. Altera declined after the company guided lower than expected fourth quarter revenues. Google declined after EU opened investigation. Interactive Brokers Group rose after it declared a special dividend.

[R]10:30 AM New York – Barnes & Noble comparable sales increased 59%, driven by digital initiatives but losses Altera declined after the company guided lower than expected fourth quarter revenues. Google declined after EU opened investigation. Interactive Brokers Group rose after it declared a special dividend.[/R]

Of the 30 stocks in the Dow, 10 increased, 19 decreased and 1 were unchanged.

Of the stocks in the Dow Jones Industrial Average, Bank of America Express Company led the gainers with a rise of 2.51% followed by increase in Bank of America Corporation of 1.71%, in E. I. du Pont de Nemours and Company of 1.32%, in JPMorgan Chase & Co. Inc. of 1.09%, in General Electric Company of 1.08%.

Hewlett-Packard Company led the decliners with a fall of 1.39%, followed by decline in The Coca-Cola Company of 1.12%, in The Home Depot, Inc. of 1.00%, in Verizon Communications Inc. of 0.96%, in AT&T Inc. of 0.82%.

Other Movers

Altera Corp ((ATR)) declined more than 2% to $34.71 after the company guided fourth quarter revenues between $543.3 million and $559.1 million.

Avanir Pharmaceuticals, Inc. ((AVNR)) fell 0.4% or 2 cent to $4.29 after the pharmaceutical company reported fourth quarter revenue fell to $0.7 million from $1.0 million in the comparable period a year ago. Net loss generated in the quarter was $9.7 million or 10 cents per diluted share, compared to $7.0 million or 9 cents in the prior-year period.

For the fiscal year net revenue decreased to $3.7 million from $4.2 million for the same quarter a year ago period. Net loss increased to $26.7 million or 30 cents per diluted share compared to $22.0 million or 28 cents per share a year ago period.

Baldor Electric Co. ((BEZ)) soared more than 39% to $63.02 after the Swiss based ABB Ltd agreed to acquire the company for $63.50 a share.

Barnes & Noble, Inc. ((BKS)) plunged 10.6% or $1.58 to $13.29 after the bookseller reported second quarter total sales surged to $1.90 billion, from $1.16 billion in the prior year quarter. Barnes & Noble.com comparable sales increased 59%, driven by digital initiatives. Net loss for the quarter was $12.57 million or 22 cent per diluted share, compared to $23.96 million or 43 cent per share for the same quarter of year ago.

Google Inc ((GOOG)) dropped as much as 3.5% to $563 after European Union antitrust regulators opened investigations into anticompetitive practices in search marketing.

Ingles Markets, Inc. ((IMKTA)) fell 0.7% or 13 cent to $18.57 after the supermarket chain reported fourth quarter total sales and revenues increased 3.1% to $856.0 million from $830.1 million in the prior year. Net income in the quarter rose $8.5 million or 34 cent per diluted share, compared to $5.2 million or 22 cent per diluted share last year.

For the fiscal year net revenue climbed 4.3% to $3.39 billion from $3.25 billion for the same quarter a year ago period. Net income was $31.7 million or $1.30 per diluted share compared to net income of $28.8 million or $1.18 per share a year ago period.

Shanda Games Limited ((GAME)) decreased 3.1% or 18 cent to $5.51 after the Shanghai-based online game developer stated third quarter net revenues declined 14% to RMB 1.09 billion, from RMB 1.27 billion a year ago. Net income in the quarter fell 21% to RMB 289.0 million, compared to net income of RMB 366.6 million in the prior-year quarter. Earnings per ADS were RMB 1.02, compared to RMB 1.32 last year.

Shanda Interactive Entertainment Ltd ((SNDA)) rose 0.07% or 3 cent to $40.03 after the Chinese entertainment media company reported third quarter consolidated net revenues edged higher 1% to RMB1.39 billion from RMB1.38 billion in the same quarter last year. Net income in the quarter plunged 77% to RMB99.3 million, from RMB435.3 million in the year-ago quarter. Earnings per ADS declined to RMB1.68, from RMB6.18 in the prior-year quarter.

Thor Industries, Inc. ((THO)) tumbled 9.3% or $3.14 to $30.50 after the recreation vehicles maker reported first quarter sales increased 21% to $606.7 million from $502.6 million a year-ago quarter. Net income for the quarter climbed marginally 1.3% to $23.7 million or 44 cents per diluted share, compared to $23.4 million or 42 cents per share in the prior-year quarter.

Trina Solar Limited ((TSL)) declined 2.2% or 54 cent to $23.35 after the integrated solar-power products manufacturer reported third quarter revenues soared 104% to $508.3 million from $249.75 million in the year-ago quarter. Net income in the quarter surged 108% to $82.87 million, compared to $39.76 million last year. Earnings per ADS climbed to $1.08 from $0.64 in the prior year.

Zoltek Companies, Inc. ((ZOLT)) plunged 7.5% or 75 cent to $9.19 after the company that develops, manufactures and markets carbon fiber reported fourth quarter net sales decreased 8% to $31.1 million from $33.8 million in the fourth quarter of fiscal 2009. Net loss in the quarter narrowed 89% to $0.43 million or 1 cent per diluted share, compared to $3.8 million or 11 cents per share in the prior-year quarter.

For the fiscal year sales decreased 7.4% to $128.5 million from $138.8 million for the same quarter a year ago period. Net income rose to $6.34 million or 18 cent per diluted share compared to $4.20 million or 12 cent per share a year ago period.