U.S. Movers: Hewlett-Packard, Saks, Home Depot, TJX, Wal-Mart

Mukesh Buch
17 May, 2011
New York City

Hewlett-Packard second quarter net earnings increased 5% to $2.3 billion. Saks first quarter net income grew 3% to $28.4 million. Home Depot first quarter net income soared 12% to $812 million. TJX first quarter net income plunged to $265.9 mn. Wal-Mart first quarter net income grew 3% to $3.4 bn.

[R]10:30 AM New York – Hewlett-Packard second quarter net earnings increased 5% to $2.3 billion. Saks first quarter net income grew 3% to $28.4 million. Home Depot first quarter net income soared 12% to $812 million. TJX first quarter net income plunged to $265.9 million. Wal-Mart first quarter net income grew 3% to $3.4 billion.[/R]

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

Of the stocks in the Dow Jones Industrial Average, Home Depot, Inc. led the gainers with a rise of 2.41% followed by increase in JPMorgan Chase & Co. of 1.82%, in Pfizer Inc. of 0.98%, in The Procter & Gamble Company of 0.69%, in Kraft Foods Inc. of 0.67%.

Hewlett-Packard Company led the decliners with a fall of 8.19%, followed by decline in Caterpillar Inc. of 1.63%, in Alcoa Inc. of 1.17%, in Intel Corporation of 0.95%, in Microsoft Corporation of 0.90%.

Other Movers

AbitibiBowater Inc. ((ABH)) declined 4.3% or $1.13 to $25.07 after the specialty paper producer reported first quarter revenues rose to $1.2 billion compared to $1.1 billion in the same period last year. Net income in the quarter increased to $30 million or $0.31 per diluted share compared to net loss $500 million or $8.68 per share a year earlier.

Dick’s Sporting Goods, Inc. ((DKS)) slumped 3.6% or $1.48 to $39.21 after the sports goods retailer reported first quarter revenues rose 6.3% to $1.1 billion compared to $1 billion in the same period last year. Net income in the quarter increased to $37.5 million or 30 cents diluted share compared to $26.2 million or 22 cents per share a year earlier.

eLong, Inc. ((LONG)) soared 59.9% or $10.17 to $27.13 after the China based online travel service provider said first quarter net revenues soared 23% to RMB124.5 million compared to RMB101.1 million. Net income for the first quarter surged 30% to RMB7.7 million compared to RMB5.9 million in the first quarter of 2010. Diluted income per ADS 24 cents compared to 30 cents from a year ago

Hewlett-Packard Company ((HPQ)) tumbled 9% or $3.61 to $36.19 after the computer hardware and software provider reported second quarter revenues rose 3% to $31.6 billion compared to $30.8 billion in the same period last year.

Net earnings in the quarter increased 5% to $2.3 billion or $1.05 per diluted share compared to $2.2 billion or $0.91 per share a year ago. The company lowered its annual earnings outlook to $5 a share from the previous estimate between $5.20 and $5.30 a share.

Monro Muffler Brake, Inc. ((MNRO)) surged 6.4% or $1.90 to $31.18 after the automotive repair and tire services provider reported fourth quarter revenues increased 2.4% to $150.8 million compared to $147.2 million in the same period last year. Net income in the quarter surged 40.5% to $8.2 million or 26 cents diluted share compared to $5.9 million or 19 cents per share a year earlier.

Saks Incorporated ((SKS)) rose 0.8% or 9 cents to $11.36 after the fashion retailer reported first quarter net sales increased to $726.0 million compared to $667.4 million in the same period last year. Consolidated comparable store sales increased 10.2%. Net income in the quarter grew 2.8% to $28.4 million or 16 cents per diluted share compared to $18.8 million or 11 cents per share a year earlier.

The Home Depot, Inc. ((HD)) increased 1.6% or 62 cents to $37.60 after the home improvement retailer reported first quarter sales fell 0.2% to $16.8 billion compared to $5.0 billion in the same period last year. Comparable store sales fell 0.6% and comp sales for U.S. stores fell 0.7%. Net earnings in the quarter soared 12% to $812 million or 50 cents per diluted share compared to $725 million or 43 cents per share a year ago.

The TJX Companies, Inc. ((TJX)) slipped 2.7% or $1.49 to $52.83 after the off-price apparel and home fashions retailer reported first quarter net sales increased 4% to $5.2 billion compared to $5.0 billion in the same period last year. Consolidated comparable store sales increased 2%. Net income in the quarter plunged to $265.9 million or 67 cents per diluted share compared to $331.4 million or 15 cents per share a year earlier.

Urban Outfitters, Inc ((URBN)) gained 2.8% or 93 cents to $33.22 after the specialty retailer reported first quarter net sales increased to $524 million compared to $480 million in the same period last year. Net income in the quarter declined to $38.6 million or 23 cents per diluted share compared to $52.9 million or 31 cents per share a year ago.

Wal-Mart Stores, Inc. ((WMT)) fell 1% or 57 to $55.49 after the retail stores operator reported first quarter sales rose 4.4% to $103.4 billion compared to $99.1 billion in the same period last year.

First quarter U.S. comparable store sales fell 1.1%. Sam''s Club comparable sales without fuel rose 4.2% which was 120 basis points above guidance.

Net income in the quarter grew 3% to $3.4 billion or 97 cents per diluted share compared to $3.3 billion or 87 cents per share a year earlier.

Winn-Dixie Stores, Inc. ((WINN)) soared 11.3% or 83 cents to $8.18 after the food retailer reported third quarter net sales flat to $1.62 billion compared to $1.62 billion in the same period last year. Net income in the quarter rose 1.4% to $23.3 million or 42 cents per diluted share compared to $20.9 million or 38 cents per share a year earlier.