U.S. Movers: Actuant, Clarcor, FedEx, Guess, Lululemon, Ross Stores

Mukesh Buch
17 Mar, 2011
New York City

Clarcor first quarter net earnings rose 47% to $21.88 million. FedEx third quarter net income fell 3% to $231 million. Guess fourth quarter net income rose 19% to $103.3 million. Lululemon quarterly net income soared to $54.8 million. Ross Stores net earnings in the quarter soared 13% to $161.8 mn.

[R]11:20 AM New York – Clarcor first quarter net earnings increased 47% to $21.88 million. FedEx third quarter net income fell 3% to $231 million. Guess fourth quarter net income rose 19% to $103.3 million. Lululemon quarterly net income soared to $54.8 million. Ross Stores net earnings in the quarter soared 13% to $161.8 million.[/R]

Of 30 the stocks in the Dow, 30 increased and none decreased.

Of the stocks in the Dow Jones Industrial Average, Hewlett-Packard Company led the gainers with a rise of 2.99% followed by increase in General Electric Company of 2.79%, in Caterpillar Inc. of 2.27%, in E. I. du Pont de Nemours and Company of 2.27%, in Chevron Corporation of 2.15%.

Other Movers

Actuant Corporation ((ATU)) declined 3.4% or 93 cents to $26.40 after the industrial product maker reported second quarter revenues surged to $330.7 million from $267.4 million last year. Net earnings in the quarter increased to $7.9 million or 11 cents per diluted share compared to $7.1 million or 10 cents per share for the year-ago quarter.

Ascent Media Corporation ((ASCMA)) rose 0.8% or 34 cents to $42.64 after the holding company said fourth quarter net revenues increased to $43.4 million from $35.0 million a prior year. Net loss in the quarter was to $18.18 million or $1.28 per diluted share compared to $32.8 million or $2.33 per share a year ago.

CLARCOR Inc. ((CLC)) increased 1.6% or 68 cents to $43.04 after the filtration and packaging products company reported first quarter net sales increased 14% to $245.72 million from $215.13 million last year. Net earnings for the quarter rose 47% to $21.88 million or 43 cents per diluted share compared to net earnings of $14.87 million or 29 cents per share in the first quarter of previous year.

FedEx Corp. ((FDX)) surged 4.8% or $4.17 to $89.45 after the holding company reported third quarter revenues surged 11% to $9.66 billion from $8.70 billion last year. Net income in the quarter fell 3% to $231 million or 73 cents per diluted share compared to $239 million or 76 cents per share for the year-ago quarter, due in part to costs related to the combination of the company''s FedEx Freight and FedEx National LTL operations.

FedEx projects earnings to be $1.66 to $1.83 per diluted share in the fourth quarter and $4.49 to $4.66 per diluted share for fiscal 2011.

Guess?, Inc. ((GES)) tumbled 12.2% or $5.37 to $38.50 after the international fashion house said fourth quarter total net revenue rose 17.9% to $756.92 million from $642.03 million in the same quarter last year.

Net income for the quarter rose 19% to $103.3 million or $1.11 per diluted share compared to net income of $86.6 million or 93 cents per share for the year-ago quarter, driven by strong growth in Europe and Asia.

Herman Miller, Inc. ((MLHR)) slumped 2.9% or 74 cents to $24.46 after the office furniture system maker reported third quarter net sales increased 25.8% to $414.8 million from $329.6 million last year. Net earnings in the quarter rose 139% to $19.8 million or 29 cents per diluted share compared to net earnings of $8.3 million or 12 cents per share in the previous year.

Lululemon athletica Inc. ((LULU)) plunged 5% or $4.01 to $75.34 after the designer of technical athletic apparel retailer reported fourth quarter net revenue increased 53% to $245.4 million from $160.6 million a prior year. Comparable stores sales for the fourth quarter increased by 28%. Direct to consumer revenue increased 152% to $24.6 million. Net income in the quarter soared to $54.8 million or 76 cents per diluted share compared to $28.4 million or 40 cents per share a year ago.

For the full year revenues increased 57% to $711.7 million from $452.9 million a prior year. Comparable stores sales for fiscal 2010 increased by 30%. Direct to consumer revenue increased 214% to $57.3 million. Net income surged to $121.8 million or $1.69 per diluted share compared to $58.3 million or $0.82 per diluted share a year ago.

Loral Space & Communications Inc. ((LORL)) rose 0.1% or 10 cents $73.18 after the satellite communications company reported fourth quarter revenues increased to $326.7 million from $260.2 million a prior year. Net income in the quarter soared to $404.7 million or $12.87 per diluted share compared to $59.8 million or $1.97 per share a year ago.

For the full year revenues increased to $1,159.0 million from $993.4 million a prior year. Net income surged to $486.8 million or $15.63 per diluted share compared to $231.7 million or $7.73 per diluted share a year ago.

Met-Pro Corporation ((MPR)) soared 4.1% 44 cents $10.99 after the pollution control equipment maker said fourth quarter net sales increased 20% to $23.8 million from $19.8 million a prior year. Net income in the quarter increased 37% to $1.8 million or 9 cents per diluted share compared to $1.3 million or 9 cents per share a year ago.

Pegasystems Inc. ((PEGA)) advanced 2.7% or 92 cents $33.84 after the business automation software developer reported fourth quarter total revenue rose 22% to $89.25 million from $72.95 million last year. Net loss for the quarter was $4.69 million or 13 cents per diluted share compared to an income of $6.33 million or 16 cents per share in the previous year.

Ross Stores, Inc. ((ROST)) rose 0.5% or 40 cents to $69.56 after the off-price apparel and home accessories retail reported fourth quarter sales increased 8% to $2.14 billion from $1.98 billion a prior year. Comparable store sales rose 4%. Net earnings in the quarter soared 13% to $161.8 million or $1.37 per diluted share compared to $142.9 million or $1.16 per share a year ago.

For the full year revenues increased 9% to $7.87 billion from $7.18 billion a prior year. Same store sales rose 5%. Net earnings surged 25% to $554.8 million or $4.63 per diluted share compared to $442.8 million or $3.54 per diluted share a year ago.

ValueVision Media, Inc. ((VVTV)) plunged 7.7% or 54 cents $6.44 after the interactive multi-media retailer said fourth quarter net sales increased 15.2% to $178.8 million from $155.3 million a prior year. Net loss in the quarter improved to $1.4 million or 4 cents per diluted share compared to $8.8 million or 27 cents per share a year ago.

For the full year revenues increased 6.5% to $562.3 million from $527.9 billion a prior year. Same store sales rose 5%. Net loss in the year narrowed 16.1% to $25.9 million or 78 cents per diluted share compared to $42.0 million or 45 cents per diluted share a year ago.