U.S. Movers: Ciena, Diamond Foods, Gerber Scientific, Lululemon

Mukesh Buch
09 Dec, 2010
New York City

Diamond Foods first quarter net sales grew 40% to $252.5 million. Greif, fourth quarter net sales increased 31% to $993.9 million. Lululemon said third quarter net revenue rose 56% to $175.8 million. SAIC, third quarter revenue rose 3.8% to $2.87 billion.

[R]10:30 AM New York – Diamond Foods first quarter net sales grew 40% to $252.5 million. Greif, fourth quarter net sales increased 31% to $993.9 million. Lululemon said third quarter net revenue rose 56% to $175.8 million. SAIC, third quarter revenue rose 3.8% to $2.87 billion.[/R]

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

Of the 30 stocks in the Dow Jones Industrial Average, Bank of America Corporation led the gainers with a rise of 2.50% followed by increase in The Home Depot, Inc. of 1.19%, in JPMorgan Chase & Co. of 1.02%, in General Electric Company of 0.76%, in Intel Corporation of 0.73%.

E. I. du Pont de Nemours and Company led the decliners with a fall of 1.49%, followed by decline in The Walt Disney Company of 0.70%, in Johnson & Johnson of 0.46%, in American Express Company of 0.31%, in Pfizer Inc. of 0.30%.

Other Movers

Ciena Corporation ((CIEN)) surged 11.6% or $1.86 to $17.78 after the communications networking equipment provider reported fourth quarter revenues surged to $417.6 million from $176.2 million a year earlier. Net loss in the quarter widened to $80.3 million or 86 cents per share from $26.6 million or 29 cents per share last year.

For the full year, revenues soared to $1.24 billion from $0.65 billion. Net loss in the period decreased to $333.5 million or $3.58 per share from $581.1 million or $6.37 per share the prior year.

Cubic Corporation ((CUB)) fell 0.02% or 1 cent to $47.75 after the electronic product maker said fourth quarter net sales increased to $347.7 million from $280.7 million from a year ago. Net income in the quarter rose $16.88 million or 63 cent per diluted share, compared to $12.38 million or 46 cent per diluted share from a year ago.

For the fiscal year net revenue increased to $1.19 billion from $1.02 billion for the same quarter a year ago period. Net income increased to $70.6 million or $2.64 per diluted share compared to $55.7 million or $2.08 per share a year ago period.

Diamond Foods, Inc. ((DMND)) soared 6.6% or $3.05 to $48.87 after the packaged food company reported first quarter net sales grew 40% to $252.5 million from $180.6 million in the year-ago period. Net income in the quarter dropped 5% to $14.21 million or 64 cents per diluted share, compared to net income of $14.93 million or 88 cents per share last year.

Forest City Enterprises, Inc. ((FCE.A)) fell 0.5% or 8 cent to $15.62 after the real estate company reported third quarter revenue slipped 0.3% to $303.3 million from $304.2 million in the prior-year period. Net income in the quarter widened 1050% to $50.6 million, or 33 cents a share, compared with a loss of $4.4 million, or 3 cents a share, in the same period last year.

Gerber Scientific, Inc. ((GRB)) tumbled 13.6% or $1.23 to $7.78 after the automated equipment and software maker reported second quarter revenues rose 9% to $129.3 million from $118.7 million a year ago. Net loss in the quarter was $16.11 million or 64 cents per diluted share, compared to net income of $0.46 million or 2 cents per share a year ago.

Greif, Inc. ((GEF)) declined 1.8^% or $1.17 to $60.65 after the industrial packaging products company reported fourth quarter net sales increased 31% to $993.9 million from $760.5 million last year. Net income in the quarter climbed 4% to $76.6 million or $1.30 per Class A share, compared to net income of $73.6 million or $1.25 per Class A share in the previous year.

Hi-Tech Pharmacal Co., Inc ((HITK)) gained 4.5% or $1.10 to $25.47 after the nutritional product maker reported second quarter net sales rose 10% to $44.9 million from $40.9 million for the same quarter a year ago period. Net income in the quarter increased to $10.0 million or 76 per diluted share compared to $7.4 million or 60 per share a year ago period.

Lululemon Athletica Inc. ((LULU)) soared 14.7% or $8.20 to $63.95 after the athletic apparel designer and retailer said third quarter net revenue rose 56% to $175.8 million from $112.9 million for the same quarter a year ago period. Net income in the quarter increased to $25.7 million or 36 per diluted share compared to $14.1 million or 20 per share a year ago.

Smithfield Foods, Inc ((SFD)) advanced 5.7% or $1.02 to $18.72 after the fresh and packaged meat product maker reported second quarter net sales increased 11.4% to $3.0 million from $2.7 million for the same quarter a year ago period. Net income in the quarter increased to $143.7 million or 86 per diluted share compared to net loss of $26.4 million or 17 per share a same quarter last year.

SAIC, Inc ((SAI)) plunged 6.5% or $1.06 to $15.15 after the scientific, engineering and technology applications maker said third quarter revenue rose 3.8% to $2.87 billion from $2.77 billion in the same quarter last year. Net income in the quarter surged 27% to $172 million or 46 cents per diluted share, compared to net income of $135 million or 34 cents per share for the year-ago quarter, driven by strong program execution and improved returns on fixed-price contracts.

Southwest Airlines Co. ((LUV)) fell 0.5% or 7 cents to $12.75 after the low-fare airline operator reported an increase in load factor for November, with traffic and capacity rising from last year. The airline''s load factor for the month of November rose 3.6 percentage points to 80.1% from the year-ago month''s 76.5%.

Traffic, measured in revenue passenger miles or RPMs, increased 10.7% to 6.51 billion from 5.88 billion in the same month last year. Capacity, measured in available seat miles or ASMs, grew 5.7% to 8.13 billion from last year''s 7.69 billion.

Spectra Energy Corp. ((SE)) fell 0.4% or 10 cents to $24.48 after the natural gas company said that it is on track to meet its financial goals for fiscal year 2010, including exceeding its earnings outlook for the year. In addition, the company projects a 15% increase in earnings per share for fiscal year 2011 and a 4% increase in the quarterly dividend, effective from the first quarter.

Transcontinental Inc ((TCL.A)) 2.1% or 35 cents to $15.85 after the Canadian printing and publishing company reported fourth quarter consolidated revenues were C$570 million, flat with the year-ago quarter. Net income in the quarter rose 3.2% to C$44.5 million or C$0.55 per share, compared to net income of C$43.1 million or C$0.53 per share last year.

Verint Systems Inc. ((VRNT)) increased 2.6% or 89 cent s to $34.24 after the actionable intelligence solution provider reported third quarter revenues rose marginally to $186.64 million from $186.48 million last year. Net income in the quarter surged 81% to $17.58 million or 36 cents per diluted share, compared to net income of $9.7 million or 29 cents per share last year.