U.S. Movers: BJ

Mukesh Buch
29 Dec, 2010
New York City

Resources linked companies edged lower but metals prices held their grounds. Pulse Electronics Corp soared 18% after Bel Fuse Inc expressed an interest in combining two companies. BJ

[R]11:40 AM New York – Resources linked companies edged lower but metals prices held their grounds. Pulse Electronics Corp soared 18% after Bel Fuse Inc expressed an interest in combining two companies. BJ’s Wholesale Club Inc soared more than 6% after it was the subject of a speculation.[/R]

Of the stocks in the Dow, 21 increased, 8 decreased and 1 were unchanged.

Of the 30 stocks in the Dow Jones Industrial Average, McDonald’s Corporation led the gainers with a rise of 1.10% followed by increase in The Walt Disney Company of 0.80%, in General Electric Company of 0.66%, in International Business Machines Corporation of 0.63%, in Hewlett-Packard Company of 0.54%.

Alcoa Inc. led the decliners with a fall of 0.59%, followed by decline in American Express Company of 0.35%, in Kraft Foods Inc. of 0.35%, in JPMorgan Chase & Co. of 0.33%, in The Procter & Gamble Company of 0.25%.

Other Movers

BJ’s Wholesale Club Inc ((BJ)) soared 6% to $47.29 on a speculation in New York Post that a private equity group Leonard Green & partners LP may mount a hostile offer for the company.

Cal-Maine Foods, Inc. ((CAL)) fell 0.3% or 11 cents to $32.25 after the shell eggs producer reported second quarter net sales rose to $234.5 million from $229.2 million last year. Net income in the quarter was $15.2 million or 63 cents per diluted share, compared to $16.1 million or 67 cents per share a year earlier.

eBay Inc. ((EBAY)) gained 0.1% or 3 cents to $28.38 and its PayPal unit is expected to set up an international hub in Chongqing, China.

E Commerce Dangdang Inc ((DANG)) dropped 4.4% after the indexes in China region stayed weak.

Gencor Industries, Inc. ((GENC)) rose 0.1% or 1 cent to $7.16 after the machinery equipment maker said fourth quarter net revenues decreased to $7.8 million from $10.4 million in the comparable period a year ago. Net income in the quarter was $2.1 million or 22 cents per diluted share, compared to net loss of $1.2 million or 12 cents per share a year earlier.

For the fiscal year 2010, revenue fell to $55.6 million in from $56.8 million last year. Net income was $3.0 million or 31 cent per diluted share, compared to net loss of $2.6 million or 27 cent per share a year earlier.

Imperial Sugar Company ((IPSU)) declined 2.6% or 37 cents to $13.55 after the refined sugar maker said fourth quarter revenue surged to $264.4 million from $147.3 million in the same quarter last year. Net loss in the quarter was $2.30 million or 19 cents per diluted share compared to $0.2 million or 2 cents per share for the year-ago quarter.

For the fiscal year 2010, revenue soared 74% to $908.0 million in fiscal 2010 from $522.6 million last year. Net income rose to $136.9 million or $11.33 per diluted share, compared to net loss of $23.2 million or $1.98 per share in fiscal 2009

Molycorp, Inc. ((MCP)) surged 6.0% or $2.79 to $49.04 after the rare earth oxide producer and Japan based Hitachi Metals, Ltd. announced they have an agreement to formation of joint ventures for the production of rare earth alloys and magnets in the U.S. The joint venture expected to sign by early April 2011.

Pulse Electronics Corp ((PULS)) soared more than 18% after the company received a letter from Bel Fuse Inc expressing an interest to combine two businesses.

Smith & Nephew Plc ((SNN)) declined more than 2% after the U.S. regulatory agency FDA sent a warning letter and noted that the company failed to observe appropriate testig and storage practices for its medical devices.