U.S. Movers: AZZ, Blyth, Expedia, Hercules Offshore, PriceSmart, Seagate

Mukesh Buch
08 Apr, 2011
New York City

AZZ fourth quarter net income rose to $9.2 million. Blyth fourth quarter net earnings declined to $17.7 million. Expedia plan to separate into two publicly traded companies. PriceSmart second quarter net income increased to $17.9 million. Seagate declared quarterly cash dividend of $0.18 per share.

[R]10:30 AM New York – AZZ fourth quarter net income rose to $9.2 million. Blyth fourth quarter net earnings declined to $17.7 million. Expedia plan to separate into two publicly traded companies. PriceSmart second quarter net income increased to $17.9 million. Seagate declared quarterly cash dividend of $0.18 per share.[/R]

Of 30 the stocks in the Dow, 16 increased and 12 decreased and 2 unchanged.

Of the stocks in the Dow Jones Industrial Average, Intel Corporation led the gainers with a rise of 0.81% followed by increase in Chevron Corporation of 0.77%, in Merck & Co., Inc. of 0.77%, in Caterpillar Inc. of 0.49%, in Johnson & Johnson of 0.49%.

Cisco Systems, Inc. led the decliners with a fall of 0.91%, followed by decline in JPMorgan Chase & Co. of 0.53%, in Wal-Mart Stores, Inc. of 0.53%, in Microsoft Corporation of 0.46%, in Bank of America Corporation of 39%.

Other Movers

AZZ Incorporated ((AZZ)) plunged 5.2% or $2.44 to $44.35 after the electrical equipment and component maker reported fourth quarter revenues increased 19% to $100.7 million from $84.9 million a year ago. Net income in the quarter rose to $9.2 million or 73 cents per diluted share compared to $8.0 million or 64 cents per share a year ago.

For the full year revenues increased 7% to $380.6 million from $357.0 million a prior year. Net income in the year fell to $35.0 million or $2.77 per diluted share compared to $37.7 million or $3.02 per diluted share a year ago.

Blyth, Inc. ((BTH)) surged 13.3% or $4.95 to $42.09 after the fragrance and decorative accessory maker said fourth quarter net sales fell 6% to $303.3 million from $322.4 million a year ago. Net earnings in the quarter declined to $17.7 million or $2.13 per diluted share compared to $31.8 million or $3.57 per share a year ago.

For the full year net sales decreased to $900.9 million from $958.1 million a prior year. Net income in the year increased to $25.5 million or $3.00 per diluted share compared to $17.7 million or $1.98 per diluted share a year ago.

Expedia, Inc. ((EXPE)) soared 10.7% or $2.40 to $24.80 after the package base online travel company today announced board of Directors has approved plan to separate into two publicly traded companies. The proposed spin off of Trip Advisor expected to complete in third quarter 2011.

Hercules Offshore, Inc. ((HERO)) declined 7% or 45 cents to $5.93 after the drilling and marine service provider received subpoena issued by the Securities and Exchange Commission, in connection with investigation into possible violations of the securities laws including possible violations of the Foreign Corrupt Practices Act. The Company intends to respond and cooperate with the investigations.

Lakeland Industries, Inc. ((LAKE)) increased 1.1% or 10 cents to $9.23 after the safety products maker stated fourth quarter net sales edged up 0.8% to $25.0 million from $24.8 million a year ago. Net income in the quarter fell to $1.10 million or 20 cents per diluted share compared to $1.12 million or 20 cents per share a year ago.

PriceSmart, Inc. ((PSMT)) rose 0.1% or 7 cents to $38.53 after the membership shopping warehouse clubs operator reported second quarter total revenue soared to $449.6 million from $366.1 million a year ago. Net income in the quarter increased to $17.9 million or 60 cents per diluted share compared to $13.7 million or 46 cents per share in the previous year.

Seagate Technology plc ((STX)) soared 9.7% or $1.44 to $16.12 after the Ireland based hard disk drive maker said the Board has approved quarterly cash dividend of $0.18 per share. The first dividend will be payable on June 1.