U.S. Movers: Infosys, Marathon Oil, Williams-Sonoma

Mukesh Buch
13 Jan, 2011
New York City

American Capital declined after plans for public offering of 18 million shares. CLARCOR fourth quarter sales rose 18% to $275.66 million. Infosys Technologies third quarter revenue rose 28% to $1.6 billion. Marathon Oil surged after plan to spin-off downstream business in to two independent Company.

[R]10:30 AM New York – American Capital declined after plans for public offering of 18 million shares. CLARCOR fourth quarter net sales rose 18% to $275.66 million. Infosys Technologies third quarter revenues increased 28% to $1.6 billion. Marathon Oil surged after plan to spin-off downstream business in to two independent companies.[/R]

Of 30 the stocks in the Dow, 11 increased and 19 decreased.

Of the stocks in the Dow Jones Industrial Average, The Coca-Cola Company led the gainers with a rise of 0.85% followed by increase in Caterpillar Inc. of 0.71%, in E. I. du Pont de Nemours and Company of 0.63%, in Wal-Mart Stores, Inc. of 0.55% in The Home Depot, Inc of 0.42%.

Merck & Co., Inc. led the decliners with a fall of 5.67%, followed by decline in Alcoa Inc. of 1.97%, in Microsoft Corporation of 1.63%, in Bank of America Corporation of 1.14%, in McDonald’s Corporation of 0.94%.

Other Movers

American Capital Agency Corp. ((AGNC)) declined 2.3% or 68 cents to $29.00 after the real estate investment trust plans for public offering of 18 million shares. BofA Merrill Lynch, Citi, Deutsche Bank Securities and UBS Investment Bank are joint book running managers. J.P. Morgan Securities LLC is lead manager.

Blackboard Inc. ((BBBB)) fell 0.9% or 40 cents to $40.27 after the education software applications provider backed its fourth quarter and full-year 2010 financial guidance.

The company''s guidance for revenues is estimated in the range of $114.8 million to $118.8 million and adjusted net income per share in the range of $0.31 to $0.35 for the fourth quarter.

For the full year, revenues are projected in the range of $444.4 million to $448.4 million and earnings in the range of $1.57 to $1.61 per share.

Commerce Bancshares, Inc. ((CBSH)) increased 1.2% or 49 cents to $41.20 after the bank holding company reported fourth quarter net interest income decreased to $160.68 million from $164.50 million a year ago. Net income in the quarter was $61.92 million or 70 cents per diluted share compared to $49.52 million or 57 cents of per share a year ago.

For the full year, revenues increased to $645.9 million from $635.5 million a year ago. Net income in the period increased to $221.7 million or $2.52 per diluted share compared to $169.1 million or $1.97 per share a year ago.

CRA International, Inc. ((CRAI)) increased 1.9% or 45 cents to $24.34 after the global consulting firm reported fourth quarter revenue increased to $75.9 million from $74.6 million a year ago period. Net income in the quarter was $1.7 million or 17 cents per diluted share compared to $3.7 million or 18 cents of per share a year ago period.

For the full year, revenues decreased to $287.4 million from $301.6 million a year ago period. Net income in the period declined to $2.6 million or 24 cents per diluted share compared to $6.3 million or 59 cents per share a year ago period.

CLARCOR Inc. ((CLC)) fell 0.5% or 24 cents to $43.93 after a maker of filtration and packaging products reported fourth quarter net sales rose 18% to $275.66 million from $234.39 million in the prior-year period. Net earnings in the quarter grew 17% to $29.00 million or 57 cents per diluted share, compared to net earnings of $24.68 million or 49 cents per share in the year-ago period.

Net sales for the year rose 11% to $1.01 billion from $907.75 million last year. For fiscal year 2010, the company''s net earnings surged 34% to $96.08 million or $1.88 per share from $71.54 million or $1.40 per share in the previous year.

Infosys Technologies Limited ((INFY)) tumbled 5.8% or $4.49 to $72.19 after the Indian software services firm reported third quarter revenues increased 28% to $1.585 billion from $1.232 billion in the year-ago period. On an IFRS basis, net profit rose 19% to $397 million, from $334 million in the prior year. Earnings per American Depository Share grew to $0.69 from $0.59.

MSCI Inc. ((MSCI)) plunged 3.9% or $1.55 to $38.17 after the investment support tools provider said fourth quarter operating revenues surged 80% to $213.32 million from $118.79 million year ago. Net income in the quarter increased 23.3% to $30.27 million or 25 cents per diluted share, compared with net income of $24.54 million or 24 cents per share last year.

Marathon Oil Corporation ((MRO)) soared 9.5% or $3.88 to $44.41 after the refinery plans to split downstream business in to two independent energy companies. The spin-off expected to be effective June 30, 2011.

MRO will operate three segments including exploration & production, oil sands mining and integrated gas. MPC will operate refining & marketing, speedway and pipeline transportation. Morgan Stanley and JP Morgan committed to provide a $2.5 billion for one year bridge facility and also provide $2 billion four-year revolving credit facility. MRO and MPC jointly plan to maintain the dividend $1 per share per annum.

Mercury Computer Systems, Inc. ((MRCY)) surged 6% or $1.10 to $19.17 after the digital signal and image processing system maker announced that it has completed the acquisition of LNX Corporation for $31 million plus an earn-out of up to $5.0 million payable upon the achievement of financial targets in next two years. Mercury also forecast second quarter revenue would be $55.5 million

Washington Federal, Inc. ((WFSL)) decreased 1% or 19 cents to $17.32 after the holding company first quarter net interest income increased to $104.73 million from $97.77million in the same quarter last year. Net income in the quarter soared to $24.53 million or 22 cents per diluted share, compared to $7.9 million or 7 cents per share in the prior-year quarter.

Williams-Sonoma, Inc. ((WSM)) slumped 4% or $1.39 to $32.79 after the specialty retailer of products for the home said net revenues for the 8-week holiday period ended December 26 grew 10.5% to $865 million, compared to the 8-week holiday period ended December 27, 2009. Comparable store sales increased 5%.