U.S. Movers: Costco, Korn/Ferry, H&R Block, McDonald

Mukesh Buch
08 Dec, 2010
New York City

Casey''s General Stores second quarter revenue increased 17.4% and Costco first quarter net sales rose 11%. H&R Block second quarter total revenues declined 1%. McDonald''s global comparable sales rose 4.8% in November.

[R]10:30 AM New York – Casey''s General Stores second quarter revenue increased 17.4% and Costco first quarter net sales rose 11%. H&R Block second quarter total revenues declined 1%. McDonald''s global comparable sales rose 4.8% in November.[/R]

Of the stocks in the Dow, 18 increased, 10 decreased and 2 were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, Bank of America Corporation led the gainers with a rise of 3.72% followed by increase in JPMorgan Chase & Co. of 2.57%, in The Home Depot, Inc. of 1.43%, in Microsoft Corporation of 1.34%, in Kraft Foods Inc. of 1.27%.

The Boeing Company led the decliners with a fall of 1.59%, followed by decline in Wal-Mart Stores, Inc. of 1.09%, in United Technologies Corporation of 1.08%, in The Walt Disney Company of 0.96%, in Caterpillar Inc. of 0.81%.

Other Movers

3M Company ((MMM)) rose 0.5% or 49 cents to $84.68 after the diversified technology company confirmed earnings for fiscal 2010 between $5.59 and $5.63 per share.

For fiscal 2011, the company said it expects earnings per share of between $5.90 and $6.10, including a $0.27 per share year-on-year increase in pension expense and sales to be $29 billion to $30.5 billion, with organic sales volumes growing 5.5% to 7.5%.

Canadian Western Bank ((CWB.TO)) increased 1.9% or 55 cents to $28.74 after the financial services provider reported fourth quarter revenue grew 24% to C$111.57 million from C$90.10 million in the same period last year. Net income for the quarter increased 29% to C$39.11 million or C$0.48 per share from C$30.36 million or C$0.39 per share in the prior-year period.

For fiscal 2010, revenues rose 32% to C$434.26 million from C$327.97 million last year. Net income for the year surged 54% to C$163.62 million or C$2.05 per share from C$106.29 million or C$1.47 per share in the previous year.

Casey''s General Stores, Inc ((CASY)) fell 0.4% or 19 cents to $41.20 after the convenience stores operator said second quarter total revenue increased 17.4% to $1.35 billion from $1.15 billion last year. Net earnings for the quarter declined 35.4% to $21.69 million or 51 cents per diluted share, compared to net earnings of $33.59 million or 66 cents per share in the previous year.

Costco Wholesale Corporation ((COST)) fell 0.5% or 39 cents to $69.25 after the membership warehouse club operator reported first quarter net sales increased 11% to $18.82 billion from $16.92 billion in the same quarter last year. Net income in the quarter rose 17.3% to $312 million or 71 cents per diluted share, compared to net income of $266 million or 60 cents per share last year.

H&R Block, Inc. ((HRB)) tumbled 6.1% or 83 cents to $12.72 after the tax preparation services provider said second quarter total revenues declined 1.0% to $322.9 million from $326.9 million in the same quarter last year. Net loss in the quarter narrowed 15.2% to $109.0 million or 36 cents per diluted share, compared to a net loss of $128.6 million or 38 cents per share in the prior-year quarter.

Hooker Furniture Corporation ((HOFT)) third quarter net revenue rose 6% to $55.7 million from $52.6 million for the same quarter a year ago period. Net income in the quarter increased to $1.2 million or 11 per diluted share compared to $0.9 million or 9 per share a year ago period.

Korn/Ferry International ((KFY)) surged 16.2% or $3.02 to $21.64 after the talent management solutions provider reported second quarter total revenue grew 35% to $193.20 million from $143.55 million generated in last year. Net income in the quarter surged 398% to $13.65 million or 30 cents per diluted share, compared to net income of $2.74 million or 6 cents per share in the prior year.

McDonald''s Corporation ((MCD)) declined 1.9% or $1.60 to $78.74 after the fast food restaurant chain reported global comparable sales growth of 4.8% in November.

Texas Instruments Incorporated ((TXN)) increased 1% or 34 cents to $33.75 after the semiconductor company narrowed its earnings and revenue outlook for the fourth quarter of fiscal 2010. The company estimated quarterly earnings to range from $0.61 to $0.65 per share and revenues for the fourth quarter are currently expected to range from $3.43 billion to $3.57 billion.

The Cooper Companies, Inc ((COO)) soared 6.2% or $3.37 to $56.93 after the specialty medical products company reported fourth quarter revenues rose 11% to $313.3 million from $283.4 million a year earlier. Net income in the quarter rose 60% to $48.2 million or $1.03 per share from $30.1 million or 66 cents per share last year.

For the full year, revenues rose 6.5% to $1.15 billion from $1.08 billion. Net income in the period increased 12.2% to $112.8 million or $2.43 per share from $100.5 million or $2.21 per share the prior year.

The Men''s Wearhouse, Inc ((MW)) plunged 17.7% or $5.09 to $23.65 after the specialty retailer of men’s suits said third quarter net sales rose 19% to $550.10 million from $462.02 million in the same quarter last year, helped by strong growth in clothing products and Tuxedo rentals. Net income in the quarter surged 31% to $25.3 million or 47 cents per diluted share, compared to net income of $19.3 million or 36 cents per share for the year-ago quarter.

The New York Times Company ((NYT)) fell 0.7% or 7 cents to $9.69 after the media firm estimates adjusted operating profit for the full year to improve from last year, helped by cost control, as print advertising trends have improved and the company is witnessing growth in digital advertising.

Vail Resorts, Inc. ((MTN)) gained 1.1% or 56 cents to $51.26 after the mountain resorts operator reported first quarter net revenue soared 190.3% to $234.42 million from $80.76 million in the prior year. Net loss in the quarter widened 4.5% to $43.02 million or $1.20 per share from $41.17 million or $1.14 per share in the previous year.