U.S. Movers: Costco, Copart, Exide, Joy Global, Vera Bradley

Mukesh Buch
02 Jun, 2011
New York City

Costco comparable sales rose and net sales climbed 17% to $7.14 billion. Copart third quarter net income rose 13% to $50.1 million. Joy Global second quarter net income increased 34% to $161.97 million. Vera Bradley first quarter net income fell to $11.2 million.

[R]10:30 AM New York – Costco comparable sales rose and net sales climbed 17% to $7.14 billion. Copart third quarter net income rose 13% to $50.1 million. Joy Global second quarter net income increased 34% to $161.97 million. Vera Bradley first quarter net income fell to $11.2 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 1.60% followed by increase in Alcoa Inc. of 1.12%, in Bank of America Corporation of 0.98%, in JPMorgan Chase & Co. of 0.92%, in American Express Company of 0.74%.

Wal-Mart Stores, Inc. led the decliners with a fall of 1.10%, followed by decline in The Home Depot, Inc. of 0.86%, in The Coca-Cola Company of 0.82%, in Cisco Systems, Inc. of 0.67%, in The Procter & Gamble Company of 0.57%.

Other Movers

Costco Wholesale Corp. ((COST)) rose 0.1% or 9 cents to $80.30 after the membership warehouse operator reported comparable sales for the month of May, including Mexico operations, grew 13%, with 11% rise in U.S. sales and 21% climb in international operations.

For the four weeks ended May 29, net sales climbed 17% to $7.14 billion from $6.09 billion during the similar period last year.

Charming Shoppes, Inc. ((CHRS) gained 9.3% or 35 cents to $4.22 after the specialty apparel retailer reported first quarter net sales flat to $504.4 million compared to $504.8 million in the same period last year. Comparable store sales increase 2%. Net income in the quarter increased to $26.0 million or 22 cents per diluted share compared to $3.9 million or 3 cents per share a year ago.

Cyberonics, Inc. ((CYBX)) declined 13.5% or $4.38 to $28.00 after the medical devices maker said fourth quarter net sales rose 7% to $51.1 million compared to $47.7 million in the same period last year. Net income in the quarter fell to $7.4 million or 26 cents per diluted share compared to $11.6 million or 41 cents per share a year earlier.

Copart, Inc. ((CPRT)) slipped 5.3% or $2.48 to $43.71 after the junk car auctioneer said third quarter total service revenues and vehicle sales rose 7% to $236.76 million from $220.35 million in the same quarter last year. Net income in the quarter rose 13% to $50.1 million or 71 cents per diluted share compared to net income of $44.4 million or 52 cents per share for the year-ago quarter.

Esterline Technologies Corporation ((ESL)) increased 4.6% or $3.45 to $76.95 after the aerospace and defense products maker said second quarter net sales increased 13.8% to $435.3 million compared to $382.5 million in the same period last year. Net earnings in the quarter increased to $45.9 million or $1.47 per diluted share compared to $29.6 million or $0.98 per share for the year ago quarter.

Exide Technologies ((XIDE)) slumped 19.3% or $1.83 to $7.88 after the stored electrical energy solution provider said fourth quarter net sales rose 5% to $774.5 million compared to $714.7 million in the same period last year. Net loss in the quarter was $13.7 million or 18 cents per diluted share compared to net income of $40.4 million or 50 cents per share a year ago.

Joy Global Inc. ((JOYG)) advanced 6.7% or $5.81 to $91.69 after the mining equipment manufacturer reported second quarter net sales increased 18.6% to $1.06 billion from $896.22 million in the same quarter last year. Net income for the quarter increased 34% to $161.97 million or $1.52 per share compared to net income of $120.44 million or $1.15 per share reported last year.

Movado Group, Inc. ((MOV)) increased 3.7% or 61 cents to $16.71 after the jewelry and silverware distributor reported first quarter net sales soared 23.4% to $89.9 million compared to $72.8 million in the same period last year. Net income in the quarter was $0.5 million or 2 cents per diluted share compared to net loss of $12.4 million or 50 cents per share a year ago.

Shanda Interactive Entertainment Ltd. ((SNDA)) fell 0.3% or 15 cents to $42.40 after the Chinese entertainment media company reported first quarter consolidated net revenues increased 25% to RMB1.63 billion from RMB1.30 billion in the same quarter last year.

Net income in the quarter plunged 61.5% to RMB85.5 million compared to net income of RMB221.9 million in the year-ago quarter. Earnings per ADS declined to RMB1.48 from RMB3.22 in the prior-year quarter.

United Natural Foods, Inc. ((UNFI)) decreased 1% or 45 cents to $41.59 after the processed food distributor reported third quarter net sales increased 22.1% to $1.20 billion compared to $0.98 billion in the same period last year. Net income in the quarter grew 19.9% to $23.4 million or 48 cents per diluted share compared to $19.5 million or 45 cents per share a year earlier.

Vera Bradley, Inc. ((VRA)) declined 12.2% or $5.85 41.81 after the women apparel and accessory retailer reported first quarter net revenues rose 19% to $101.4 million compared to $85.0 million in the same period last year. Net income in the quarter fell to $11.2 million or 28 cents per diluted share compared to $16.8 million or 47 cents per share a year earlier.