U.S. Movers: AutoZone, AGL Resources, Pep Boys, Talbots

Mukesh Buch
07 Dec, 2010
New York City

AutoZone, first quarter net sales grew 13% to $1.79 billion. BMO Financial fourth quarter net climbed 14.2% on rising of consumer lending. The Pep Boys third quarter revenues increased 5%. The Toro fourth quarter net sales increased 17%.

[R]11:30 AM New York – AutoZone, first quarter net sales grew 13% to $1.79 billion. BMO Financial fourth quarter net climbed 14.2% on rising of consumer lending. The Pep Boys third quarter revenues increased 5%. The Toro fourth quarter net sales increased 17%.[/R]

Of the stocks in the Dow, 9 increased, 19 decreased and 2 were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, Cisco Systems, Inc. led the gainers with a rise of 1.87% followed by increase in JPMorgan Chase & Co. of 0.74%, in Pfizer Inc. of 0.54%, in The Travelers Companies, Inc. of 0.29%, in American Express Company of 0.27%.

Bank of America Corporation led the decliners with a fall of 1.85%, followed by decline in The Coca-Cola Company of 0.79%, in AT&T Inc. of 0.67%, in Microsoft Corporation of 0.67%, in E. I. du Pont de Nemours and Company of 0.63%.

Other Movers

AutoZone, Inc. ((AZO)) increased 2.8% or $7.46 to $269.37 after the retailer and a distributor of automotive replacement parts and accessories reported first quarter net sales grew 13% to $1.79 billion from $1.59 billion in the prior-year quarter. Domestic same store sales increased 9.5% for the quarter. Net income in the quarter increased 20% to $172.08 million or $3.77 per share, compared to net income of $143.3 million or $2.82 per share last year.

AGL Resources, Inc. ((AGL)) declined 4% or $1.50 to $35.64 after the energy service provider today announced the Boards of Directors of both companies, AGL and Nicor Inc ((GAS)) have approved merger agreement to create a leading U.S. natural gas distribution company. Pursuant to the agreement, Nicor will merge with a subsidiary of AGL Resources in a transaction with an enterprise value of $3.1 billion, including a total equity value of $2.4 billion. The combined entity will have an enterprise value of $8.6 billion.

Under the terms, Nicor shareholders will be entitled to receive for each share of Nicor common stock, $21.20 in cash and 0.8382 shares of AGL Resources common stock, which together represent a value of $53.00 based on the volume-weighted average price for AGL Resources common stock for the 20 trading days ended December 1,

BMO Financial Group ((BMO)) gained 3.4% or $2.02 to $61.37 after the major international bank reported fourth quarter revenue improved 8% to C$3.23 billion from C$2.99 billion in the comparable period. Net income in the quarter climbed 14.2% to C$739 million or C$1.24 per share from C$647 million or C$1.11 per share last year on rising consumer lending and drop in loan losses.

eGames, Inc. ((EGAM)), the software games maker reported first quarter net revenues increased 23.4% to $859,000, compared to $696,000 for the similar fiscal quarter a year ago. Net loss for the quarter widened 116% to $350,000or 3 cents per diluted share, compared to a net loss of $162,000 or 1 cent per share in the previous year''s first quarter.

Layne Christensen Company ((LAYN)) surged 8.5% or $2.89 to $36.45 after the provider of drilling and construction services reported third quarter revenues grew 23.9% to $269.8 million from $217.8 million generated in last year. Net income in the quarter increased 23.8% to $8.20 million or 42 cents per diluted share, compared to net income of $6.62 million or 34 cents per share in the prior-year period.

Photronics, Inc. ((PLAB)) soared 3.6% or 25 cent to $7.13 after the photomasks manufacturer reported fourth quarter sales increased 16% to $110 million from $94.7 million in the year-ago period. Net income in the quarter surged 575% to $8.1 million from $1.2 million in the year-ago period. On a per-share basis, quarterly earnings were 14 cents per share compared with a loss of 11 cents per share a year ago.

Rambus Inc. ((RMBS)) rose 0.4% or 10 cent to $21.40 after the chip interface technology developer estimates fourth quarter revenues to be between $85 million and $93 million, up from the earlier forecast of $40 million to $50 million.

The Pep Boys - Manny, Moe & Jack ((PBY)) advanced 4.3% or 55 cent to $13.54 after the automotive repair and maintenance services provider reported third quarter total revenues increased 5.0% to $496.36 million from $472.64 million last year on comparable store sales raise of 3.5%. Net earnings in the quarter soared 170% to $5.72 million or 11 cents per diluted share, compared to net earnings of $2.12 million or 4 cents per share in the previous year.

The Toro Company ((TTC)) fell 0.7% or 49 cent to $61.92 after the turf maintenance equipment and service provider said fiscal fourth quarter net sales increased 17% to $337.3 million from $288.5 million in the prior year. Net income in the quarter was $3.2 million or 10 cents per diluted share, compared to net loss of $0.5 million or 2 cents per diluted share last year.

For the fiscal year net revenue climbed 11% to $1.7 billion from $1.5 billion for the same quarter a year ago period. Net income was increased to $93.2 million or $2.79 per diluted share compared to $62.8 million or $1.73 per share a year ago period.

The Talbots, Inc. ((TLB)) tumbled 22.2% or $2.53 to $8.86 after the specialty retailer stated third quarter net sales slipped 3.2% to $299.1 million from $308.9 million in the comparable period a year ago. Net income in the quarter rose 9.8% to $17.0 million or 24 cents per diluted share, compared to last year’s income of $15.5 million, or 28 cents per share.