U.S. Movers: Bank of Montreal, Costco, Hormel Foods, Toll Brothers

Mukesh Buch
25 May, 2011
New York City

Bank of Montreal second quarter net income increased 7.5% to $800 million. Costco third quarter net income grew to $324 million. Hormel Foods second quarter net earnings surged 41% to $109.6 million. Toll Brothers second quarter net loss narrowed to $20.8 million.

[R]10:30 AM New York – Bank of Montreal second quarter net income increased 7.5% to $800 million. Costco third quarter net income grew to $324 million. Hormel Foods second quarter net earnings surged 41% to $109.6 million. Toll Brothers second quarter net loss narrowed to $20.8 million.[/R]

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

Of the stocks in the Dow Jones Industrial Average, Caterpillar Inc. led the gainers with a rise of 0.80% followed by increase in Johnson & Johnson of 0.79%, in E. I. du Pont de Nemours and Company of 0.62%, in JPMorgan Chase & Co. of 0.50%, in Microsoft Corporation of 0.40%.

Verizon Communications Inc. led the decliners with a fall of 1.52%, followed by decline in The Procter & Gamble Company of 1.09%, in Kraft Foods Inc. of 1.00%, in The Travelers Companies, Inc. of 0.82%, in American Express Company of 0.80%.

Other Movers

American Eagle Outfitters, Inc ((AEO)) declined 4.3% or 60 cents to $13.06 after the apparel retailer reported first quarter sales decreased 6% to $610 million compared to $648 million in the same period last year. Comparable store sales fell 8%. Net income in the quarter increased 4.6% to $28.3 million or 14 cents per diluted share compared to $10.9 million or 5 cents per share a year ago.

Bank of Montreal ((BMO)) rose 0.6% or 39 cents to $63.43 after the Canada based bank reported second quarter total revenue rose 5.5% to $3.2 billion compared to $3.0 billion in the same period last year. Net income in the quarter increased 7.5% to $800 million or $1.35 per diluted share compared to $745 million or $1.28 per share a year ago.

Costco Wholesale Corporation ((COST)) slipped 2.2% or $1.81 to $79.54 after the specialty retailer reported third quarter net sales soared 16% to $20.19 billion compared to $17.39 billion in the same period last year. Comparable sales increased 12%. Net income in the quarter grew to $324 million or 73 cents per diluted share compared to $306 million or 68 cents per share a year ago.

Collective Brands, Inc. ((PSS)) tumbled 16% or $2.94 to 15.43 after the retail store operator said first quarter net sales fell 9.8% to $869.0 million compared to $878.8 million in the same period last year. Comparable store sales declined 7.4%. Net earnings in the quarter plunged 27.8% to $26.4 million or 42 cents per diluted share compared to $54.2 million or 83 cents per share a year earlier.

Compuware Corporation ((CPWR)) declined 3.8% or 40 cents to $9.99 after the software company reported fourth quarter total revenues surged to $249.5 million compared to $230.0 million in the same period last year. Net income in the quarter fell to $34.8 million or 16 cents per diluted share compared to $37.4 million or 16 cents per share a year ago.

Express, Inc. ((EXPR)) slumped 8.2% or $1.91 to $20.96 after the specialty apparel and accessory retailer reported first quarter net sales surged 10% to $467.4 million compared to $426.5 million in the same period last year. Comparable sales increased 8%. Net income in the quarter rose to $35.0 million or 39 cents per diluted share compared to $30.5 million or 39 cents per share a year ago.

Frontline Ltd. ((FRO)) tumbled 11.2% or $2.12 to $16.67 after the Bermuda based shipping company said first quarter total revenues fell to $234.8 million compared to $331.8 million in the same period last year. Net income in the quarter declined to $15.5 million or 20 cents per diluted share compared to $79.7 million or $1.02 per share a year earlier.

Hormel Foods Corporation ((HRL)) plunged 7.2% or $2.18 to $27.84 after the food processing company reported second quarter net sales soared 15.3% to $1.9 billion compared to $1.7 billion in the same period last year. Comparable store sales surged 20%. Net earnings in the quarter surged 41% to $109.6 million or 40 cents per diluted share compared to $77.9 million or 29 cents per share a year earlier.

HEICO Corporation ((HEI)) surged 10.8% or $5.41 to $55.18 after the aerospace and defense company reported second quarter net sales soared 20% to $184.5 million compared to $153.8 million in the same period last year. Net income in the quarter surged 34% to $16.8 million or 40 cents per diluted share compared to $12.6 million or 30 cents per share a year ago.

Polo Ralph Lauren Corporation ((RL)) plunged 7.5% or $9.73 to $119.68 after the consumer apparel and accessories retailer reported fourth quarter sales surged 7% to $1.4 billion compared to $1.3 billion in the same period last year. Net income in the quarter declined to $73.2 million or $0.74 per diluted share compared to $114.1 million or $1.13 per share a year ago.

Toll Brothers, Inc. ((TOL)) gained 3.2% or 65 cents to $20.92 after the construction and financing company reported second quarter revenues rose to $319.7 million compared to $311.3 million in the same period last year. Net loss in the quarter narrowed to $20.8 million or 12 cents per diluted share compared to $40.4 million or 24 cents per share a year earlier.

Take-Two Interactive Software, Inc ((TTWO)) soared 5.9% or 96 cents to $17.06 after the entertainment software and hardware company said fourth quarter revenues fell to $182.2 million compared to $233.2 million in the same period last year. Net loss in the quarter widened to $22.0 million or 27 cents per diluted share compared to $9.8 million or 13 cents per share a year ago.

TiVo Inc. ((TIVO)) increased 2.6% or 27 cents to $9.68 the broadcasting and cable TV reported said first quarter net revenues fell to $45.8 million compared to $61.4 million in the same period last year. Net income in the quarter was $139.0 million or $1.04 per diluted share compared net loss of $14.2 million or $0.13 per share a year ago.