U.S. Movers: AOL, Adobe, CarMax, CPI, Darden Restaurants

Mukesh Buch
21 Dec, 2010
New York City

AOL agreed to acquire a personal profile site. Adobe fourth quarter revenue surged 33% to a record $1 billion. Biogen agreed to acquire Neurimmune. ConAgra, second quarter net sales improved 2%. CarMax, third quarter net revenue surged 23% and Jabil Circuit, first quarter net revenue surged 32.3%.

[R]10:30 AM New York – AOL agreed to acquire a personal profile site. Adobe fourth quarter revenue surged 33% to a record $1 billion. Biogen, acquire Neurimmune. ConAgra, second quarter net sales improved 2%. CarMax, third quarter net revenue surged 23% and Jabil Circuit, first quarter net revenue surged 32.3%.[/R]

Of the stocks in the Dow, 26 increased, 4 decreased and none were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, American Express Company led the gainers with a rise of 1.16% followed by increase in Bank of America Corporation of 0.86%, in General Electric Company of 0.85%, in Alcoa Inc. of 0.69%, in Kraft Foods Inc. of 0.66%.

United Technologies Corporation led the decliners with a fall of 0.14%, followed by decline in 3M Company of 0.11%, in Intel Corporation of 0.05%, in Wal-Mart Stores, Inc. of 0.04%.

Other Movers

AOL Inc. ((AOL)) increased 0.8% or 21 cents to $24.17 after the internet company agreed to acquire about.me, Inc., a product that empowers people to create a single personal profile page. Financial terms not disclosed.

Adobe Systems Incorporated ((ADBE)) surged 5.3% or $1.56 to $30.74 the publishing and design software maker said fourth quarter revenue rose 33% to a record $1.01 billion from $757.28 million in the same quarter last year. Net income generated in the quarter was $268.9 million or 53 cents per diluted share, compared to a net loss of $32.0 million or 6 cents per share for the year-ago quarter.

For the fiscal year 2010, revenue rose 29% to $3.80 billion in fiscal 2010 from $2.95 billion last year. Annual net income soared 100% to $774.7 million or $1.47 per diluted share, compared to $386.5 million or $0.73 per share in fiscal 2009.

Biogen Idec Inc. ((BIIB)) rose 0.2% or 17 cents to $68.15 after the global biotechnology company announced to acquired a subsidiary of Neurimmune, a privately held Swiss biotechnology company. Biogen Idec will make initial payment of $32.5 million and up to $395 million in contingent payments. This acquisition builds on a 2007 agreement.

ConAgra Foods, Inc. ((CAG)) fell 0.2% or 5 cents to $22.39 after the food company said second quarter net sales improved 2.0% to $3.16 billion from $3.10 billion in the comparable period. Net income in the quarter decreased 16.2% to $200.9 million or 45 cents per diluted share, compared to $239.7 million or 54 cents per share last year.

CarMax, Inc. ((KMX)) plunged 8.2% or $2.95 to $32.95 after the used car retailer reported third quarter net revenue surged 23% to $2.12 billion from $1.73 billion in the same period of a year ago. Net income in the quarter surged to $82.4 million or 36 cents per diluted share, compared to $74.6 million or 33 cents per share from a year ago.

CPI Corp. ((CPY)) tumbled 18.1% or $5.56 to $24.91 after the photographic studio operator said third quarter net revenue fell 1% to $106.2 million from $107.3 million in the same period of a year ago. Net loss in the quarter was $7.7 million or $1.05 per diluted share, compared to $6.8 million or $0.97 per share from a year ago.

Darden Restaurants, Inc. ((DRI)) declined 3.1% or $1.60 to $48.83 after the operator of full-service restaurant reported second quarter sales increased 5.2% to $1.72 billion from $1.64 billion a year earlier. Net earnings in the quarter rose 24% to $74.5 million or 53 cents per diluted share, compared to $60.3 million or 43 cents per share a year earlier.

HCP, Inc. ((HCP)) rose 0.7% or 25 cents to $35.39 after the real estate investment company announced completed its $1.47 billion public offering of 46 million shares of common stock at a price of $32.00 a share. HCP anticipates the net proceeds will be used for debt, cash on hand and the reinvestment of proceeds from the repayment of HCR ManorCare debt investments to finance a previously announced $6.1 billion

Jabil Circuit, Inc. ((JBL)) soared 5.8% or $1.04 to $18.70 after the electronic product solutions company reported first quarter net revenue surged 32.3% to $4.1 billion from $3.1 billion in the same period last year. Net income in the quarter soared 277% to $106.7 million or 49 cents per diluted share, compared to $28.3 million or 13 cents per share in the year-ago period.

Jefferies Group, Inc. ((JEF)) increased 1.3% or 36 cents to $26.60 after the securities and investment banking firm said fourth quarter net revenues increased 29% to $694.88 million from $538.21 million in the comparable period a year ago. Net earnings in the quarter slipped 24.4% to $70.72 million or 35 cents per diluted share, compared to $93.52 million or 46 cents per share a year earlier.

For the fiscal year 2010, revenue in the 11-month period rose to $2.21 billion in from $2.17 billion last year. Net earnings decreased to $236 million or $1.15 per diluted share, compared to $280 million or $1.38 per share in fiscal 2009.

Paychex, Inc. ((PAYX)) rose 0.9% or 30 cents to $30.98 after the staffing and outsourcing service provider reported second quarter total revenue increased 3% to $512.0 million from $496.6 million a year ago. Net income in the quarter increased 6.4% to $133.9 million or 37 cents per diluted share, compared to $125.8 million or 35 cents per share in the previous year.