U.S. Movers: AMD, Apollo Group, Lennar, Talbots and Supervalu

Mukesh Buch
11 Jan, 2011
New York City

Alcoa fourth quarter sales increased 4% to $5.65 billion. Apollo Group first quarter net revenue increased 5.4% to $1.33 billion. Lennar Corp fourth quarter total revenues declined 6% to $860.12 million. Supervalu third quarter total net revenue fell to $8.7 billion. AMD chief resigned unexpectedly.

[R]10:30 AM New York – Alcoa fourth quarter sales increased 4% to $5.65 billion. Apollo Group first quarter net revenue increased 5.4% to $1.33 billion. Lennar Corp fourth quarter total revenues declined 6% to $860.12 million. Supervalu third quarter total net revenue fell to $8.7 billion. AMD chief resigned unexpectedly.[/R]

Of the 30 stocks in the Dow, 25 increased, 5 decreased and none were unchanged.

Of the stocks in the Dow Jones Industrial Average, Bank of America Corporation led the gainers with a rise of 1.30% followed by increase in Hewlett-Packard Company of 1.25%, in Caterpillar Inc. of 0.97%, in American Express Company of 0.94% in The Boeing Company of 0.81%.

Alcoa Inc. led the decliners with a fall of 1.33%, followed by decline in Verizon Communications Inc. of 0.81%, in AT&T Inc. of 0.77%, in Merck & Co., Inc. of 0.17%, in Microsoft Corporation of 0.04%.

Other Movers

Advanced Micro Devices Inc ((AMD)) declined 5.5% to $8.80 after the company said its chief executive Dirk Meyer resigned on mutual consent. The sudden resignation was not expected.

Alcoa Inc. ((AA)) declined 1.2% or 20 cents to $16.28 after the aluminum producer said fourth quarter sales rose 4% to $5.65 billion from $5.43 billion in the same quarter last year. Net income generated in the quarter was $258 million or 24 cents per diluted share compared to a net loss of $277 million or 28 cents per share for the year-ago quarter.

Net sales for the full year 2010 increased 14% to $21.01 billion from $18.44 billion last year. For the full year the company reported net income of $254 million or $0.24 per share compared to a net loss of $1.15 billion or $1.23 per share for the full year 2009.

Apollo Group, Inc. ((APOL)) surged 8.1% or $2.91 to $38.85 after the private education provider said first quarter consolidated net revenue increased 5.4% to $1.33 billion from $1.26 billion in the same quarter last year. Net income in the quarter fell 2% to $235.4 million or $1.61 per diluted share, compared to net income of $240.1 million or $1.54 per share in the prior-year quarter.

Audiovox Corporation ((VOXX)) rose 0.5% or 4 cents to $8.12 after the international electronic accessory distributor reported third quarter net sales increased 4.8% to $163.2 million from $155.7 million in the comparable period. Net income in the quarter decreased to $3.86 million or 17 cents per diluted share, compared to $12.64 million or 55 cents per share in the prior year.

Frisch’s Restaurants, Inc ((FRS)) fell 0.9% or 20 cents to $21.50 after the restaurant operator reported second quarter sales increased 4.1% to $70.6 million from $67.9 million a year ago. Net earnings in the quarter rose 4.9% to $2.48 million or 49 cents per diluted share, compared to $2.37 million or 46 cents per share in the prior-year quarter.

Lennar Corporation ((LEN)) soared 6.5% or $1.24 to $20.14 after the home builder stated fourth quarter total revenues declined 6% to $860.12 million from $913.74 million in the prior-year quarter. Net earnings in the quarter fell 10% to $32.03 million or 17 cents per diluted share, compared to net earnings of $35.57 million or 19 cents per share last year.

Life Partners Holdings, Inc. ((LPHI)) slumped 4.6% or 68 cents to $14.01 after the financial services company said third quarter revenue decreased 16% to $26.2 million from $31.0 million in the comparable period. Net income in the quarter fell 15% to $7.1 million or 47 cents per diluted share, compared to $8.4 million or 57 cents per share in the prior year.

Premier Exhibitions, Inc. ((PRXI)) tumbled 9.1% or 17 cents to $1.69 after the educational tourism company reported third quarter net revenues increased to $10.2 million from $8.7 million for the same quarter a year ago period. Net loss in the quarter increased to $5.7 million or 12 cent per diluted share compared to $2.1 million or 5 cent per share a year ago.

Phillips-Van Heusen Corporation ((PVH)) decreased 1.6% or $1.04 to $60.76 after the apparel maker estimates GAAP earnings for the fourth quarter of fiscal year 2010 of $0.69 per share, up from the prior range of $0.63 to $0.68 per share.

Supervalu Inc. ((SVU)) slipped 14.4% or $1.24 to $7.35 after the grocery channel said third quarter total net revenue fell to $8.7 billion from $9.2 billion in the same quarter last year. Net loss in the quarter was $202 million or 95 cents per diluted share, compared to net income of $109 million or 51 cents per share for the year-ago quarter.

Spectrum Control, Inc. ((SPEC)) slumped 13.8% or $1.94 to $12.11 after the electronic component maker reported fourth quarter net sales increased to $42.7 million from $34.1 million a year ago. Net income in the quarter was $3.2 million or 25 cents per diluted share compared to $2.1 million or 17 cents of per share a year ago.

For the full year, revenues surged to $163.9 million from $132.3 million a year ago. Net income in the period increased to $12.8 million or 98 cents per diluted share compared to $8.5 million or 67 cents per share a year ago.

Talbots Inc ((TLB)) dropped 13% to $6.49 after the women’s apparel retailer said fourth quarter adjusted loss between 15 cents and 19 cents a share.

Tuesday Morning Corp ((TUES)) dropped 10% to $4.75 after the discount home goods retailer said that fiscal second quarter earnings were 41 cents a share.

WD-40 Company ((WDFC)) plunged 6.6% or $2.67 to $37.27 after the reported first quarter sales increased 4% to $80.9 million from $77.7 million a year ago. Net income in the quarter fell 4% to $9.1 million or 53 cents per diluted share compared to $9.4 million or 56 cents per share in the prior-year quarter.