U.S. Movers: Cisco, Polypore, CostPlus, Nike, SeaChange

Mukesh Buch
18 Mar, 2011
New York City

Cisco traded higher after it announced a quarterly dividend of six cents. CostPlus fourth quarter net income increased but estimated lower than expected in the current year. Nike third quarter net income soared 5% to $523 million. The Cato fourth quarter net income rose 8%.

[R]12:30 PM New York – Cisco traded higher after it announced a quarterly dividend of six cents. CostPlus fourth quarter net income increased but estimated lower than expected in the current year. Nike third quarter net income soared 5% to $523 million. The Cato fourth quarter net income rose 8%.[/R]

All 30 stocks in the Dow traded higher.

Of the stocks in the Dow Jones Industrial Average, The Walt Disney Company led the gainers with a rise of 2.23% followed by increase in Caterpillar Inc. of 2.19%, in General Electric Company of 2.11%, in Cisco Systems Inc of 1.76%, in Alcoa Inc. of 1.69%.

Other Movers

Cisco Systems Inc ((CSCO)) increased 1.5% or 26 to $17.26 after the networking company said it will begin paying dividend of six cents a share.

Coffee Holding Co., Inc. ((JVA)) surged 25.0% or $1.49 to $7.44 after the wholesale coffee roaster and dealer reported third quarter revenues surged 10.1% to $19.0 million from $17.3 million last year. Net income in the quarter tumbled to $424,091 or 8 cents per diluted share compared to $799,760 or 15 cents per share for the year-ago quarter

CostPlus, Inc ((CPWM)) declined 7.9% to 86 cents to $9.94 after the furniture and food retailer said fourth quarter sales rose 7.1% to $319 million and same store sales increased 7.7% compared to a 2.5% decline in the quarter a year ago. Net income in the quarter increased to $28.8 million or $1.24 a share compared to $21 million and 95 a share in the quarter a year ago.

The retailer estimated first quarter sales between $196 million and $200 million on same store sales increase between 4% and 6% and for the fiscal 2011 sales between $946 million and $956 million based on same store sales increased between 4% and 5%.

Celera Corporation ((CRA)) soared 29.7% or $1.87 to $8.14 after the healthcare business said fourth quarter net revenues decreased to $34.9 million from $39.2 million a prior year. Net income in the quarter fell to $2.5 million or 3 cents per diluted share compared to $3.6 million or 4 cents per share a year ago.

Gordmans Stores, Inc. ((GMAN)) surged 12.1% or $1.73 to $16.00 after the specialty retailer reported fourth quarter net revenues increased 9.3% to $168.4 million from $154.0 million a prior year. Comparable store sales increased 6.0%. Net income in the quarter soared 36.1% to $8.4 million or 44 cents per diluted share compared to $6.2 million or 38 cents per share a year ago.

IHS Inc. ((IHS)) rose 0.8% or 74 cents to $86.53 after the holding company reported first quarter revenues surged 23% to $295 million from $241 million last year. Net income in the quarter increased to $30.7 million or 47 cents per diluted share compared to $26.8 million or 42 cents per share for the year-ago quarter

NuPathe Inc. ((PATH)) rose 0.5% or 4 cents to $7.90 after the reported fourth quarter net revenue rose to $6.2 million from $3.2 million a prior year. Net loss in the quarter widened to $6.1 million or $0.42 per diluted share compared to $4.3 million or $11.26 cents per share a year ago.

Nike Inc ((NKE)) plunged 9.5% or $8.14 to $77.27 after the athletic shoe maker reported third quarter revenues surged 7% to $5.1 billion from $4.7 billion last year. Net income in the quarter increased 5% to $523 million or $1.08 per diluted share compared to $497 million or $1.02 per share for the year-ago quarter

Perry Ellis International, Inc. ((PERY)) decreased 1.3% or 35 cents to $25.95 after the apparel company reported fourth quarter revenues increased 5% to $206.9 million from $196.4 million last year. Net income in the quarter decreased to $7.7 million or 54 cents per diluted share compared to $8.5 million or 64 cents per share for the year-ago quarter.

Polypore International Inc ((PPO)) declined 5.4% $3.04 to $52.65 after declined 5.6% to $52.53 after the maker of filtration and membrane separation for battery components said its shareholders Warburg Pincus and chief executive are selling 4.5 million shares at $52.75 a share.

SeaChange International Inc ((SEAC)) declined 8.6% 80 cents to $8.45 after the technology and broadband video application provider forecasted first quarter adjusted earnings of 3 cents a share.

The Cato Corporation ((CATO)) rose 0.4% or 10 cents to $23.13 after the specialty stores operator reported fourth quarter sales increased 3% to $224.3 million from $217.7 million a prior year. Same stores sales for the quarter increased 1%. Net income in the quarter rose 8% to $7.9 million or 27 cents per diluted share compared to $7.3 million or 25 cents per share a year ago.

For the full year revenues increased 5% to $913.9 million from $872.1 million a prior year. Same stores sales for fiscal 2010 increased 3%. Net income surged 26% to $57.7 million or $1.96 per diluted share compared to $45.8 million or $1.55 per diluted share a year ago.