U.S. Movers: ABM Industries, Ciena, Layne, Ryder, Verint

Mukesh Buch
08 Jun, 2011
New York City

ABM Industries second quarter net income surged 65%. Ciena second quarter net loss narrowed. Layne swung to quarterly profit. Ryder System acquired England based Hill Hire plc. Verint Systems quarterly net loss narrowed.

[R]11:30 AM New York – ABM Industries second quarter net income surged 65%. Ciena second quarter net loss narrowed. Layne swung to quarterly profit. Ryder System acquired England based Hill Hire plc. Verint Systems quarterly net loss narrowed.[/R]

Of 30 the stocks in the Dow, 11 increased and 18 decreased and 1 unchanged.

Of the stocks in the Dow Jones Industrial Average, Exxon Mobil Corporation led the gainers with a rise of 1.78% followed by increase in Verizon Communications Inc. of 1.47%, in Chevron Corporation of 1.02%, in General Electric Company of 0.65%, inJPMorgan Chase & Co. of 0.32%.

Caterpillar Inc. led the decliners with a fall of 1.33%, followed by decline in The Travelers Companies, Inc. of 0.88%, in Microsoft Corporation of 0.75%, in E. I. du Pont de Nemours and Company of 0.70%, in The Home Depot, Inc. of 0.67%.

Other Movers

ABM Industries Inc ((ABM)) gained 2.8% or 64 cents to $23.05 after the business service provider said second quarter revenues increased 24% to $1,060.1 million from $855.5 million in the same quarter of a year ago. Net income in the quarter surged 65.5% to $14.2 million or 26 cents per diluted share compared to $8.6 million or 16 cents per share a year earlier.

Bob Evans Farms, Inc. ((BOBE)) increased 9.9% or $2.94 to $32.46 after the restaurant company reported fourth quarter net sales fell to $418.7 million from $442.6 million in the same quarter last year. Net income in the quarter fell to $18.4 million or 60 cents per diluted share compared to $20.8 million or 68 cents per share a year ago.

Ciena Corporation ((CIEN)) declined 13% or $3.16 to $21.05 after the communications equipment provider reported second quarter revenues increased to $417.9 million from $253.5 million in the same quarter of a year ago. Net loss in the quarter narrowed to $62.7 million or 66 cents per diluted share compared to $90.0 million or 97 cents per share a year earlier.

Cantel Medical Corp. ((CMN)) increased 2.2% to 53 cents to $23.65 after the healthcare company said third quarter net sales increased 24% to $82.6 million from $66.5 million in the same quarter last year. Net income in the quarter increased 18% to $5.0 million or 29 cents per diluted share compared to $4.3 million or 25 cents per share a year ago.

Comtech Telecommunications Corp. ((CMTL)) slumped 5.3% or $1.45 to $25.29 after the communications solution provider reported third quarter net sales decreased to $131.1 million from $216.3 million in the same quarter last year. Net income in the quarter fell to $14.2 million or 47 cents per diluted share compared to $21.8 million or 67 cents per share a year ago.

Layne Christensen Company ((LAYN)) soared 13% or $3.57 to $30.98 after the drilling and construction service provider reported first quarter revenues increased 15.9% to $267.4 million from $230.7 million in the same quarter of a year ago. Net loss in the quarter soared 98.8% to $13.1 million or 66 cents per diluted share compared to $6.6 million or 34 cents per share a year earlier.

Measurement Specialties, Inc. ((MEAS)) slipped 7.5% or $2.70 to $33.28 after the sensor-based system maker said fourth quarter net sales increased 28% to $76.8 million from $59.8 million in the same quarter last year. Net income in the quarter doubled to $8.3 million or 53 cents per diluted share compared to $4.2 million or 28 cents per share a year ago.

Oxford Industries, Inc. ((OXM)) decreased 2.9% or 86 cents to $33.65 after the apparel retailer said first quarter net sales increased to $208.3 million from $163.6 million in the same quarter last year. Net income in the quarter rose to $18.1 million or $1.10 per diluted share compared to $12.5 million or $0.76 per share a year earlier.

Piedmont Natural Gas Company, Inc. ((PNY)) increased 2.1% or 64 cents to $30.43 after the energy services company reported second quarter revenues decreased 17% to $392.6 million from $472.8 million in the same quarter of a year ago. Net income in the quarter rose 1% to $47.4 million or 66 cents per diluted share compared to $46.8 million or 65 cents per share a year ago.

Ryder System, Inc. ((R)) fell 0.4% or 21 cents to $50.49 after the transportation solution provider said it has acquired Bradford, England-based Hill Hire plc, an independently run and wholly owned subsidiary of Lloyds Banking Group. The stock acquisition was completed on June 8, at a cash price for £154 million or $252 million.

Shuffle Master, Inc. ((SHFL)) decreased 4.3% or 44 cents to $9.61 after the entertainment-based products maker said second quarter total revenue increased 18% to $59.9 million from $50.8 million in the same quarter last year. Net income in the quarter flat to $7.95 million or 14 cents per diluted share compared to $7.88 million or 15 cents per share a year earlier.

Verint Systems Inc. ((VRNT)) increased 2.1% or 71 cents to $33.56 after the actionable intelligence solution provider reported first quarter revenues increased to $176.3 million from $172.6 million in the same quarter of a year ago. Net loss in the quarter narrowed to $3.7 million or 10 cents per diluted share compared to $19.6 million or 60 cents per share a year ago.