U.S. Movers: Casey

Mukesh Buch
08 Mar, 2011
New York City

Netflix declined more than 4% after Warner Bros. agreed to sell movies through Facebook. MoneyGram recap plan will assign 85% stake to Goldman Sachs and Thomas H. Lee partners. Casey

[R]12:05 PM New York – Netflix declined more than 4% after Warner Bros. agreed to sell movies through Facebook. MoneyGram recap plan will assign 85% stake to Goldman Sachs and Thomas H. Lee partners. Casey’s General Stores Inc decline as much as 10% after it missed earnings estimates. Broadsoft Inc surged 35% on higher earnings estimate.[/R]

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

Of the stocks in the Dow Jones Industrial Average, Bank of America Corporation led the gainers with a rise of 1.78% followed by increase in American Express Company of 1.21%, in AT&T Inc. of 1%, in The Boeing Company of 0.72%, in JPMorgan Chase & Co. of 0.69%.

Cisco Systems, Inc. led the decliners with a fall of 0.82%, followed by decline in The Home Depot, Inc. of 0.75%, in McDonald’s Corporation of 0.75%, in Intel Corporation of 0.57%, in Exxon Mobil Corporation of 0.50%.

Other Movers

ABM Industries Inc ((ABM)) declined 4.7% or $1.25 to $25.17 after the facility services provider reported first quarter revenue surged 18.3% to $1,029.2 million from $869.9 million last year. Net income in the quarter declined 34.3% to $8.4 million or 16 cents per share compared to $12.8 million or 24 cents per share a year ago.

AU Optronics Corp. ((AUO)) gained 2.2% or 20 cents to $9.20 after the thin film transistor liquid crystal display panels maker reported preliminary consolidated revenue declined 17.1% to NT$27.09 billion for February 2011 from NT$32.67 billion in the same period last year.

BankUnited, Inc. ((BKU)) rose 0.1% or 3 cents to $28.24 after the savings and loan holding company said fourth quarter total interest income rose to $142.73 million from $139.91 million last year. Net income in the quarter declined to $27.8 million or 30 cents per share compared to $57.4 million or 62 cents per share a year ago.

BroadSoft, Inc ((BSFT)) surged 39.6% or $13.95 to $48.81 after the software company reported fourth quarter revenue surged 85% to $35.8 million from $19.3 million last year. Net income in the quarter soared to $11.2 million or 41 cents per share compared to $0.4 million or 5 cents per share a year ago. The telecom software maker also estimated first quarter earnings of 11 cents a share.

Casey’s General Stores, Inc. ((CASY)) tumbled 8.3% or $3.29 to $37.16 after the convenience store operator said third quarter revenue increased to $1.37 billion from $1.11 billion last year. Net income in the quarter declined 25.3% to $12.87 million or 34 cents per share compared to $17.24 million or 34 cents per share a year ago.

Chemtura Corporation ((CHMT)) increased 1.5% or 24 cents to $15.54 after the specialty chemical company reported fourth quarter net sales grew 14% to $680 million from $598 million in the comparable quarter a year ago. Net loss in the quarter widened 6825% to $367 million or $2.25 per diluted share compared to net loss of $94 million or 38 cents per share in the fourth quarter of previous year.

Chesapeake Utilities Corporation ((CPK)) rose 0.4% or 18 cents to $41.85 after the energy utility company reported fourth quarter total revenue increased to $117.76 million from $91.71 million last year. Net income in the quarter rose to $7.11 million or 74 cents per share compared to $6.19 million or 71 cents per share a year ago.

For the full year revenue increased to $427.55 million from $268.78 million a prior year. Net income for the year grew $26.05 million or $2.73 per diluted share compared to $15.90 million or $2.15 per diluted share a year ago.

Dick’s Sporting Goods, Inc. ((DKS)) soared 4.8% or $1.82 to $39.50 after the sporting goods retailer reported fourth quarter net sales surged 13.6% to $1.52 billion from $1.34 billion last year. Consolidated same store sales increased 9.4%. Net income in the quarter rose 5.7% to $87.5 million or 71 cents per share compared to $67.3 million or 56 cents per share a year ago.

For the full year net sales increased 10.4% to $4.87 billion from $4.41 billion a prior year. Net income for the year rose 3.7% to $182.1 million or $1.50 per diluted share compared to $135.3 million or $1.15 per diluted share a year ago.

Icahn Enterprises L.P. ((IEP)) rose 0.2% or 8 cents to $40.07 after the holding company reported fourth quarter revenue increased to $2.49 billion from $1.86 billion last year. Net income in the quarter of $82 million or 94 cents per share compared to net loss of $1 million or 9 cents per share a year ago.

For the full year revenue increased to $9.12 billion from $8.60 billion a prior year. Net income for the year grew $199 million or $2.35 per diluted share compared to $253 million or $3.05 per diluted share a year ago.

MoneyGram International Inc ((MGI)) soared 15.3% to $3.09 after the money transfer company said it has agreed to a recapitalization plan with Thomas H. Lee Partners and Goldman Sachs Group Inc that will end up two companies controlling 85.4% of the company.

Netflix Inc ((NFLX)) declined 4% to $198.98 after Warner Bros. confirmed that it plans to sell or rent movies through Facebook. The online movie distributor and rental company is facing growing competition from Amazon and upstart social networking sites.

Perfect World Co., Ltd. ((PWRD)) gained 3.2% or 70 cents to $22.32 after the online game developer reported fourth quarter total revenues declined 2.5% to RMB 592.99 million or $89.85 million from RMB 607.90 million last year. Net income in the quarter fell 54% to RMB 125.21 million from RMB 270.85 million in the previous year. On a per ADS basis, net earnings were RMB 2.36 or $0.36 compared to RMB 5.09 last year.

Stage Stores, Inc. ((SSI)) soared 9.7% or $1.56 to $17.61 after the specialty retailer said fourth quarter net sales surged 14% to $453.68 million from $431.68 million last year. Net income in the quarter increased 7% to $31.98 million or 86 cents per share compared to $27.85 million or 72 cents per share a year ago.

The Bank of Nova Scotia ((BNS)) fell 0.8% or 50 cents to $61.32 after the Canada based diversified financial institution reported first quarter total revenue rose to $4.12 billion from $3.91 billion last year. Net income in the quarter increased 19% to $1,174 million or $1.07 per share compared to $988 million or $0.91 per share a year ago.

Urban Outfitters, Inc. ((URBN)) plunged 15.6% or $5.95 to $32.08 after the specialty retail company reported fourth quarter net sales surged 14% to $668.4 million from $588.5 million last year. Comparable retail segment net sales for the quarter include direct-to-consumer channels rose 4% while comparable store net sales fell 2%. Net income in the quarter fell to $75.24 million or 45 cents per share compared to $77.67 million or 45 cents per share a year ago.

For the full year net sales increased to $2.27 billion from $1.94 billion a prior year. Net income for the year increased $272.9 million or $1.60 per diluted share compared to $219.9 million or $1.28 per diluted share a year ago.