U.S. Movers: BJ

Mukesh Buch
02 Mar, 2011
New York City

BJ

[R]10:30 AM New York – BJ’s fourth quarter net income plunged to $10.2 million. Costco second quarter net income surged to $348 million. Joy Global first quarter net income soared to $102 million. Staples quarterly net income quarter rose 17% to $275 million. SINA fourth quarter loss widened to $100.0 million.[/R]

Of 30 the stocks in the Dow, 14 increased and 16 decreased.

Of the stocks in the Dow Jones Industrial Average, Verizon Communications Inc. led the gainers with a rise of 0.53% followed by increase in 3M Company of 0.49%, in The Walt Disney Company of 0.49%, in Bank of America Corporation of 0.36%, in Chevron Corporation of 0.20%.

American Express Company led the decliners with a fall of 0.76%, followed by decline in The Home Depot, Inc. of 0.76%, in E. I. du Pont de Nemours and Company of 0.72%, in Johnson & Johnson of 0.54%, in The Coca-Cola Company of 0.49%.

Other Movers

Ascena Retail Group Inc ((ASNA)) rose 0.8% or 27 cents to $31.54 after the former retailer The Dress Barn, Inc. reported second quarter net sales soared 27% to $752.2 million from $594.1 million a prior year. Total comparable sales for the second quarter rose 7%. Net income in the quarter surged 50% to $42.5 million or 52 cents per diluted share compared to $21.7 million or 28 cents per share a year ago.

BJ’s Wholesale Club, Inc. ((BJ)) increased 1.2% or 59 cents to $48.90 after the warehouse club operator reported fourth quarter net revenue rose 7.4% to $2.9 billion from $2.7 billion a prior year. Comparable club sales increased 3.8%. Net income in the quarter plunged to $10.2 million or $0.19 cents per diluted share compared to $54.5 million or $1.00 per share a year ago.

For the full year revenue increased to $10.6 billion from $9.8 billion a prior year. Comparable club sales increased 4.4%. Net income decreased to $95.0 million or $1.77 per diluted share compared to $131.2 million or $2.40 per diluted share a year ago.

Costco Wholesale Corporation ((COST)) fell 0.3% or 26 cents to $73.36 after the membership warehouse operate reported second quarter net sales increased 11% to $20.45 billion from $18.36 billion a prior year. Total comparable sales for the second quarter rose 7%. Net income in the quarter surged to $348 million or 79 cents per diluted share compared to $299 million or 67 cents per share a year ago.

Hovnanian Enterprises, Inc. ((HOV)) rose 0.5% or 2 cents to $3.91 after the homebuilding and financial services company reported first quarter total revenues fell 21% to $252.6 million from $319.6 million in the year-ago quarter. Net loss in the quarter was $64.1 million or 82 cents per diluted share compared to net income of $236.2 million or $2.97 per share last year.

Joy Global Inc ((JOYG)) declined 2.8% or $2.73 to $94.27 after the mining equipment maker reported first quarter net sales surged 19% to $870 million from $729 million a prior year.

Bookings in the first quarter of fiscal 2011 were up 52% to $1.2 billion from a year ago. Backlog increased in the first quarter to $2.2 billion. Total comparable sales for the second quarter rose 7%. Net income in the quarter soared to $102 million or 96 cents per diluted share compared to $76 million or 73 cents per share a year ago.

McDermott International, Inc ((MDR)) gained 3.6% or 82 cents to $23.21 after the engineering construction company reported fourth quarter revenues slumped to $539.6 million from $756.8 million in the comparable period. Net income in the quarter declined to $44.9 million or 19 cents per share compared to $98.7 million or 43 cents per share in the prior-year period.

Nektar Therapeutics ((NKTR)) slumped 2.3% or 23 cents to $9.50 after the clinical-stage biopharmaceutical company said fourth quarter revenues rose 16.2% to $45.3 million from $39.0 million a year before. Net loss in the quarter widened 194% to $22.6 million or 24 cents per diluted share compared to a net loss of $7.7 million or 8 cents per share a year before.

Shanda Interactive Entertainment Ltd. ((SNDA)) increased 2.2% or 95 cents to $43.08 after the entertainment media company reported fourth quarter consolidated net revenues grew 2% to RMB1.54 billion from RMB1.51 billion in the same quarter last year. Net income in the quarter plunged 65% to RMB128.0 million compared to net income of RMB369.3 million in the year-ago quarter. Earnings per American Depositary Share declined to RMB2.22 or $0.34 from RMB5.30 in the prior-year quarter.

Staples, Inc. ((SPLS)) rose 0.2% or 5 cents to $20.91 after the office products maker reported fourth quarter sales edged up to $6.41 billion from $6.40 billion last year. Net income in the quarter rose 17% to $275 million or 38 cents per diluted share compared to $234.0 million or 32 cents per share in the previous year.

For the full year revenue rose 1% to $24.5 billion from $24.3 million a prior year. Net income increased 19% to $882 million or $1.21 per diluted share compared to $738 million or $1.02 per diluted share a year.

SINA Corporation ((SINA)) tumbled 6.3% or $5.17 to $76.83 after the China based online media company agreed to acquire 117,505,755 ordinary shares equivalent to 16,786,535 ADSs of Mecox Lane Limited, a China''s leading online platforms for apparel and accessories).

SINA also today reported its fourth quarter net revenue surged 12% to $110.0 million from $98.2 million a prior year. Net loss in the quarter was $100.0 million or $1.51 per diluted share compared net income of $372.1 million or $6.03 per share a year ago.

The St. Joe Company ((JOE)) advanced 3.1% or 78 cents to $25.96 after the real estate development company reported fourth quarter total revenues were $37.1million, same as previous year. Net loss in the quarter narrowed 95.4% to $2.7 million or 3 cents per diluted share compared to a net loss of $58.7 million, or 64 cents per share, for the fourth quarter of 2009,

The Middleby Corporation ((MIDD)) increased 1.9% or $1.71 to $91.47 the food processing equipment maker said fourth quarter net sales rose 36% to $207.23 million from $152.49 million in the previous year. Net earnings in the quarter increased 17.5% to $20.99 million or $1.13 per diluted share compared to net income of $17.87 million or 95 cents per share a year ago.

TiVo Inc. ((TIVO)) plunged 5.1% or 51 cents to $9.31 after the television services provider reported fourth quarter total revenues fell 19% to $55.8 million from $68.6 million last year. Net loss in the quarter widened 244% to $34.4 million or 30 cents per diluted share compared to a net loss of $10.0 million or 9 cents per share a year earlier.

VeriFone Systems, Inc. ((PAY)) surged 8.7% or $3.89 to $48.50 after the electronic payment solutions company said first quarter net revenues increased 27% to $284 million from $223 million in the same quarter last year. Net income in the quarter soared 202% to $32.0 million or 35 cents per diluted share compared to net income of $10.6 million or 12 cents per share in the prior-year quarter.

W&T Offshore, Inc. ((WTI)) tumbled 11.2% or $2.80 to $21.84 after the oil and natural gas producer reported fourth quarter revenues rose to $187 million from $176 million in the comparable period. Net income in the quarter declined to $20.5 million or 27 cents per share compared to $64 million or 84 cents per share in the prior-year period.