U.S. Movers: American Eagle, Navistar, Finisar, Children's Place, Visteon

Mukesh Buch
09 Mar, 2011
New York City

AeroVironment Inc increased 12% after it reported better than expected earnings. Finisar Corp dropped after it guided lower fourth quarter earnings. Children

[R]10:30 AM New York – AeroVironment Inc increased 12% after it reported better than expected earnings. Finisar Corp dropped after it guided lower fourth quarter earnings. Children’s Place earnings declined but ahead of expectations.[/R]

Of 30 the stocks in the Dow, 7 increased and 23 decreased.

Of the stocks in the Dow Jones Industrial Average, International Business Machines Corporation led the gainers with a rise of 1.98% followed by increase in Merck & Co., Inc. of 0.49%, in The Home Depot, Inc. of 0.38%, in AT&T Inc. of 0.35%, in The Travelers Companies, Inc. of 0.20%.

Caterpillar Inc. led the decliners with a fall of 1.60%, followed by decline in E. I. du Pont de Nemours and Company of 1.33%, in Alcoa Inc. of 1.03%, in American Express Company of 1.02%, in Exxon Mobil Corporation of 1.02%.

Other Movers

American Eagle Outfitters, Inc ((AEO)) gained 4% or 60 cents to $15.43 after the clothing, accessories and personal care product retailer reported fourth quarter total sales decreased 4% to $916 million from $956 million last year. Comparable store sales declined 7% compared to rise of 5% in last year. Net income in the quarter rose 9.5% to $87.0 million or 44 cents per share compared to $59.3 million or 28 cents per share a year ago.

For the full year revenue increased 1% to $2.97 billion from $2.94 billion a prior year. Comparable store sales fell 1%, compared to a fall of 4% in last year. Net income for the year grew 4.7% to $140.6 million or 70 cents per diluted share compared to $169.0 million or 81 cents per diluted share a year ago.

AeroVironment, Inc. ((AVAV)) surged 11.8% or $3.31 to $31.84 after the aerospace and defense related products maker reported third quarter revenue surged 39% to $84.4 million from $60.9 million last year. Net income in the quarter soared 76% to $11.5 million or 52 cents per share compared to $6.5 million or 30 cents per share a year ago. Increase in revenue mainly from higher sales in Unmanned Aircraft Systems segment of $16.6 million and Efficient Energy Systems segment of $6.9 million.

Brown-Forman Corporation ((BF.B)) rose 0.1% or 8 cents to $70.75 after the alcoholic beverage maker stated third quarter net sales grew 12% to $962.4 million from $861.7 million in the prior-year period. Net income in the quarter rose 30% to $140.7 million or 96 cents per diluted share compared to net income of $107.9 million or 73 cents per share in the year-ago period.

Carmike Cinemas, Inc. ((CKEC)) soared 5.4% or 37 cents to $7.12 after the motion picture exhibitor said fourth quarter total revenue declined to $115.9 million from $137.1 million last year. Net loss in the quarter was $3.1 million or 24 cents per share compared to net income of $6.4 million or 50 cents per share a year ago.

Dynegy Inc. ((DYN)) slumped 3.6% or 21 cents to $5.58 after the electric utility reported fourth quarter revenues edged higher 2.3% to $451 million from last year''s $441 million. Net loss in the quarter narrowed 54% to $164 million or $1.36 per share compared to a net loss of $355 million or $2.33 per share in the prior year.

Diamond Foods, Inc. ((DMND)) slipped 2.4% or $1.24 to $49.74 after the packaged food company said second quarter net sales increased 63% to $257.6 million from $184.2 million last year. Net income in the quarter increased to $19.7 million or 87 cents per share compared to $8.8 million or 52 cents per share a year ago.

E-Commerce China Dangdang Inc. ((DANG)) gained 2.1% or 55 cents to $26.06 after China based online book and consumer goods maker reported fourth quarter total net revenues rose 59% to RMB 710.90 million from RMB 448.03 million a year earlier. Net income in the quarter declined 33.2% to RMB 14.80 million from RMB 22.15 million last year.

Empire Company Limited ((EMP.A)) rose 0.3% or 16 cents to $51.41 after the company engaged in food retailing, real estate, and investment businesses reported third quarter total revenue increased 1.3% to C$3.88 billion from C$3.84 billion in the same quarter last year. Net earnings in the quarter declined 8.1% to C$62.8 million or C$0.92 per share from C$68.3 million or C$0.99 per share in the prior-year quarter.

Emeritus Corporation ((ESC)) increased 1.3% or 32 cents to $24.82 after the senior living community’s operator said fourth quarter total revenue increased 23.6% to $283.8 million from $229.6 million last year. Net loss in the quarter fell to $15.15 million or 36 cents per share compared to $15.93 million or 41 cents per share a year ago.

For the full year total revenue increased 12.1% to $1,007.0 million from $898.7 million a prior year. Net loss for the year rose $56.96 million or $1.42 per diluted share compared to $53.87 million or $1.37 per diluted share a year ago.

Focus Media Holding Limited ((FMCN)) soared 9.3% or $2.59 to $29.97 after the Hong Kong based media company reported fourth quarter net revenues surged to $159.7 million from $110.9 million in the same quarter last year. Net income in the quarter was $47.15 million or 33 cents per diluted share compared to net loss $57.0 million or 2 cents per share for the year-ago quarter.

Finisar Corporation ((FNSR)) tumbled 34% or $13.63 to $26.40 after the fiber optic equipment maker said third quarter revenues surged 57.6% to $263.02 million from $166.94 million in the same quarter last year. Net income in the quarter tripled 242% to $18.8 million or 22 cents per diluted share compared to $5.5 million or 8 cents per share for the year-ago quarter.

The company guided fourth quarter earnings not to exceed more than 35 cents a share, lower than analysts expectations between 42 cents and 48 cents a share.

Honeywell International Inc. ((HON)) decreased 1.1% or 69 cents to $56.63 after the diversified conglomerate forecasts earnings for the first quarter of about $0.80 per share, up about 23% from the prior-year period, and sales of about $8.7 billion, up approximately 12% from last year.

Hercules Offshore, Inc. ((HERO)) surged 12.5% or 68 cents to $6.08 after the shallow water drilling and marine service provider said fourth quarter total revenue increased to $290.1 million from $219.1 billion in the same quarter last year. Net loss in the quarter widened to $84.6 million or 74 cents per diluted share from $26.5 million or 23 cents per share in the prior-year quarter.

Inter Parfums, Inc. ((IPAR)) fell 0.9% or 18 cents to $18.45 after the perfumes maker said fourth quarter net sales fell to $112.4 million from $112.9 million last year. Net income in the quarter increased 14.5% to $6.2 million or 20 cents per share compared to $5.5 million or 18 cents per share a year ago.

Majesco Entertainment Company ((COOL)) soared 37.3% or 62 cents to $2.28 after the video game provider said first quarter reported first quarter net revenue surged to $48.5 million from $29.2 million last year. Net income in the quarter soared to $6.76 million or 18 cents per share compared to $3.81 million or 10 cents per share a year ago.

McDonald''s Corporation ((MCD)) fell 0.3% or 23 cents to $75.33 after the fast food giant reported comparable sales growth of 3.9% on the strength across all regions.

Navistar International Corporation ((NAV)) gained 3.4% or $2.10 to $62.91 after the holding company reported first quarter sales and revenues fell 2.5% to $2.74 billion compared with $2.81 billion in the year-ago quarter. Net loss in the quarter was $6 million or 8 cents per diluted share versus a profit of $19 million or 26 cents per share last year.

Oasis Petroleum Inc. ((OAS)) plunged 3.4% or $1.16 to $32.38 after the oil and natural gas production company reported fourth quarter total revenue increased 181% to $49.1 million from $17.5 million last year. Net income in the quarter was $1.59 million or 2 cents per share compared to net loss of $3.64 million or break even a share a year ago.

The Children''s Place Retail Stores, Inc ((PLCE)) soared 11.2% or $4.93 to $48.81 after the children''s specialty apparel retailer reported fourth quarter net sales fell 2.1% to $453.2 million from $462.8 million in the prior-year quarter.

Comparable retail sales, which include online sales, decreased 5.9% and comparable store sales fell 9.0% in the U.S. and 6.2% in Canada while comparable online sales soared 31.7%. Net income in the quarter fell to $32.15 million or $1.22 per diluted share compared to $34.11 million or $1.23 per share in the year-ago quarter.

For the full year net sales increased to $1.67 billion from $1.64 billion a prior year. Net income for the year declined to $83.12 million or $3.03 per diluted share compared to $88.35 million or $3.08 per diluted share a year ago.

The Bon-Ton Stores, Inc ((BONT)) surged 7.2% or $1.11 to $16.54 after the department store operator reported fourth quarter revenue edged up to $1.03 billion from $1.02 billion in the prior-year quarter. Comparable store sales increased 0.8%. Net income in the quarter rose to $85.0 million or $4.41 per diluted share compared to $80.3 million or $4.34 per share in the year-ago quarter.

Texas Instruments Incorporated ((TXN)) declined 2.7% or 98 cents to $34.88 after the semiconductor company said first quarter revenues are estimated in the range of $3.34 billion to $3.48 billion compared with the prior range of $3.27 billion to $3.55 billion.

The company estimates earnings in the range of $0.56 to $0.60 per share for the quarter as against the prior range of $0.54 to $0.62 per share.

The Boston Beer Company, Inc. ((SAM)) tumbled 7.3% or $6.92 to $87.09 after the alcohol beverages maker reported fourth quarter revenue grew 7.5% to $126.29 million from $117.48 million in the prior-year quarter. Net income in the quarter soared 63% to $12.17 million or 87 cents per diluted share compared to net income of $7.46 million or 52 cents per share in the year-ago quarter.

Visteon Corporation ((VC)) plunged 7% or $5.20 to $68.50 after the climate, and electronics systems supplier reported fourth quarter total sales decreased to $1.89 billion from $2.03 billion last year. Net income in the quarter declined to $86 million or $1.66 per share compared to $276 million or $2.12 per share a year ago.

For the full year revenue increased 12% to $7.47 billion from $6.68 billion a prior year. Net income for the year grew to $1,026 million compared to $128 million or 98 cents per diluted share a year ago.