U.S. Movers: Biglari, Campbell Soup, Krispy Kreme, Tech Data, Sony

Mukesh Buch
23 May, 2011
New York City

Campbell Soup third quarter earnings increased to $187 million. Krispy Kreme first quarter net income grew to $9.2 million. Tech Data first quarter net income increased to $48.7 million. Sony forecast revenue loss of 3% and expects net loss of �260 million.

[R]11:15 AM New York – Campbell Soup third quarter earnings in the quarter increased to $187 million. Krispy Kreme first quarter net income grew to $9.2 million. Tech Data first quarter net income increased to $48.7 million. Sony forecast revenue loss of 3% and expects net loss of ¥260 million.[/R]

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

Caterpillar Inc. led the decliners with a fall of 2.93%, followed by decline in General Electric Company of 1.99%, in United Technologies Corporation of 1.83%, in International Business Machines Corporation of 1.79%, in E. I. du Pont de Nemours and Company of 1.71%.

Other Movers

Biglari Holdings Inc. ((BH)) fell 0.7% or $3.10 to $414.90 after the holding company said second quarter revenue increased to $210.9 million compared to $199.1 million in the same period last year. Net earnings in the quarter rose to $5.64 million or $4.23 per diluted share compared to $5.52 million or $3.84 per share a year ago.

Campbell Soup Company ((CPB)) slipped 1% or 36 cents to $34.88 after the food products maker reported third quarter sales rose 1% to $1.81 billion compared to $1.80 billion in the same period last year. Net earnings in the quarter increased to $187 million or 57 cents per diluted share compared to $168 million or 49 cents per share a year ago.

Krispy Kreme Doughnuts, Inc. ((KKD)) soared 18.7% or $1.20 to $7.60 after the doughnuts and packaged sweets retailer reported first quarter revenue increased 13.6% to $104.6 million compared to $92.1 million in the same period last year. Same store sales rose 5.8%. Net income in the quarter grew to $9.2 million or 13 cents per diluted share compared to $4.5 million or 6 cents per share a year earlier.

Perry Ellis International, Inc. ((PERY)) plunged 7.5% or $2.23 to $27.27 after the apparel company reported first quarter net sales surged 31% to $288.3 million compared to $220.3 million in the same period last year. Net income in the quarter increased 37% to $15.4 million or 99 cents per diluted share compared to $11.2 million or 81 cents per share a year ago.

Ryanair Holdings plc, declined 5% or $1.52 to $28.49 after the Ireland based low fare airline company reported full year revenue soared 21% to �3,630 million from �2,988 million from a year ago. Traffic grew 8% to 72 million. Annual profit surged 26% to �401 million compared to �319 million from a year ago.

Sony Corporation ((SNE)) plunged 4% or $1.09 to $25.96 after the electronic equipment maker revised its consolidated results for fiscal year ended March 31. Operating revenue fell 0.3% compared to February forecast to �7,181 billion from �7,214.0 billion a year ago. Net loss is expected of �260 million compared to net income of �70 million as February forecast from net loss of �40.8 million a year ago.

The impact of the earthquake on sales estimated to be approximately �22 billion. The impact on financial results also effected by unauthorized access to the PlayStation Network, Qriocity and Sony online Entertainment network services that occurred this April.

Tech Data Corporation ((TECD)) tumbled 10.4% or $5.57 to $48.00 after the information technology reported first quarter net sales increased 13% to $6.3 billion compared to $5.6 billion in the same period last year. Net income in the quarter increased to $48.7 million or $1.03 per diluted share compared to $45.6 million or $0.88 per share a year ago period.