U.S. Movers: Genesco, Novell, Cooper and Wal-Mart

Mukesh Buch
04 Mar, 2011
New York City

Genesco fourth quarter net earnings rose to $30.8 million. Hughes quarterly net income in the quarter surged to $16.9 million. Marvell net income in the quarter rose 9% to $222.9 million. Novell reported first quarter net loss of $17.94 million. The Cooper first quarter net income surged 122%

[R]10:30 AM New York – Genesco fourth quarter net earnings rose to $30.8 million. Hughes quarterly net income in the quarter surged to $16.9 million. Marvell Technology net income in the quarter rose 9% to $222.9 million. Novell reported first quarter net loss of $17.94 million. The Cooper first quarter net income surged 122% to $45.3 million.[/R]

Of 30 the stocks in the Dow, 13 increased and 17 decreased.

Of the stocks in the Dow Jones Industrial Average, Intel Corporation led the gainers with a rise of 0.96% followed by increase in Merck & Co. Inc. of 0.66%, in AT&T Inc. of 0.52%, in The Home Depot, Inc. of 0.51%, in Pfizer Inc. of 0.51%.

E. I. du Pont de Nemours and Company led the decliners with a fall of 1.32%, followed by decline in The Boeing Company of 1.26%, in Caterpillar Inc. of 1.06%, in JPMorgan Chase & Co. of 0.76%, in Hewlett-Packard Company of 0.67%.

Other Movers

Cheniere Energy, Inc. ((LNG)) rose 0.2% or 2 cents to $9.59 after the energy company reported fourth quarter total revenue declined to $75.47 million from $85.60 million a year ago. Net loss for the quarter widened to $86.1 million or $1.51 per diluted share compared to $23.2 million or $0.44 per share in the previous year.

Genesco Inc. ((GCO)) soared 6.1% or $2.50 to $43.36 after the footwear retailer said fourth quarter net sales increased 17% to $560.5 million from $479.0 million last year. Comparable store sales increased 9%. Net earnings in the quarter rose to $30.8 million or $1.31 per share compared to $25.8 million or $1.08 per share a year ago.

For the full year net sales increased to $1.79 billion from $1.57 billion a prior year. Net earnings soared to $53.2 million or $2.24 per diluted share compared to $28.8 million or $1.30 per diluted share a year ago.

Hughes Communications, Inc. ((HUGH)), the telecommunications company reported fourth quarter consolidated revenue increased 7% to $281.4 million from $262.2 million last year. Subscriber and net added increased 29% and 40%. Net income in the quarter surged to $16.9 million or 74 cents per share compared to $2.4 million or 11 cents per share a year ago.

For the full year net sales increased 3% to $1.04 billion from $1.01 billion a prior year. Net income generated in the year to $22.79 million or $1.00 per diluted share compared to net loss of $52.69 million or $2.46 per diluted share a year ago.

M & F Worldwide Corp. ((MFW)) fell 0.6% or 15 cents to $24.94 after the holding company said fourth quarter total revenue fell to $447.2 million from $467.0 million last year. Net income in the quarter tumbled 82.3% to $2.8 million or 14 cents per share compared to $15.8 million or 82 cents per share a year ago.

Marvell Technology Group Ltd. ((MRVL)) tumbled 7.1% or $1.31 to $16.92 after the chipmaker said fourth quarter net revenue rose 7% to $900.51 million from $842.54 million in the same quarter last year. Net income in the quarter rose 9% to $222.9 million or 33 cents per diluted share compared to $204.8 million or 31 cents per share for the year-ago quarter.

Novell, Inc. ((NOVL)) fell 0.3% or 2 cents to $5.80 after the enterprise software developer reported first quarter total net revenue declined 5.8% to $190.71 million from $202.36 million a year ago. Net loss for the quarter was $17.94 million or 5 cents per diluted share compared to an income of $20.19 million or 6 cents per share in the previous year.

Nelnet, Inc. ((NNI)) fell 0.1% or 4 cents to $21.78 after the finance company reported fourth quarter total interest income fell to $150.8 million from $160.4 million in the same quarter last year. Net income in the quarter in the quarter was to $85.0 million or $1.75 per diluted share compared to net loss of $0.37 million or $0.01 per share for the year-ago quarter.

Select Medical Holdings Corporation ((SEM)) slipped 1.1% or 9 cents to $7.57 after the operator of specialty hospitals reported fourth quarter net operating revenues increased 11.1% to $637.4 million from $573.5 million a year ago. Net income in the quarter declined 30.1% to $20.9 million or 13 cents per diluted share compared to $29.9 million or 19 cents per share a year earlier.

Spreadtrum Communications, Inc. ((SPRD)) surged 8.8% or $1.86 to $23.60 after the fabless semiconductor company reported fourth quarter total revenue soared 199% to $126.5 million from $42.3 million last year. Net income in the quarter surged 2043% to $30.0 million or $0.56 per ADS compared to $1.4 million or $0.03 per ADS for the year-ago quarter.

The Toronto-Dominion Bank ((TD)) rose 0.3% or 33 cents to $86.45 after the Canada based bank reported first quarter total revenue increased to $5.46 billion from $5.03 billion last year. Net income in the quarter increased to $1.54 billion or $1.69 per share compared to $1.29 billion or $1.44 per share a year ago.

The Cooper Companies, Inc. ((COO)) soared 7.1% or $4.56 to $68.23 after a medical products maker said first quarter revenue increased 13% to $293.2 million from $260.26 million a year earlier. Net income in the quarter surged 122% to $45.3 million or 96 cents per diluted share compared to $20.4 million or 44 cents per share last year, as demand for its toric and single-sphere lens grew across all of the regions.

Wal-Mart Stores, Inc. ((WMT)) rose 0.02% or 1 cent to $52.01 the retailer said its board approved to increase the company''s annual dividend by 21%. Accordingly, the company will pay an annual dividend of $1.46 per share, up from the $1.21 per share paid during fiscal year 2011.