U.S. Movers: Barnes & Noble, Carnival, Gerber, Jefferies, Walgreen

Mukesh Buch
21 Jun, 2011
New York City

Barnes & Noble reported fourth quarter net loss widened to $59.4 million. Carnival second quarter net income fell to $206 million. Susquehanna will acquire Tower Bancorp for $343 million. Walgreen third quarter net earnings grew to $603 million.

[R]11:20 AM New York – Barnes & Noble reported fourth quarter net loss widened to $59.4 million. Carnival second quarter net income fell to $206 million. Susquehanna will acquire Tower Bancorp for $343 million. Walgreen third quarter net earnings grew to $603 million.[/R]

Of 30 the stocks in the Dow, 22 increased and 8 decreased.

Of the stocks in the Dow Jones Industrial Average, Caterpillar Inc. led the gainers with a rise of 2.52% followed by increase in Alcoa Inc. of 2.50%, in E. I. du Pont de Nemours and Company of 2.00%, in Hewlett-Packard Company of 1.51%, in Chevron Corporation of 1.23%.

Wal-Mart Stores, Inc. led the decliners with a fall of 0.4%, followed by decline in The Boeing Company of 0.3%, in Merck & Co., Inc. of 0.31%, in The Travelers Companies, Inc. of 0.30% and in Johnson & Johnson of 0.23%.

Other Movers

Barnes & Noble, Inc. ((BKS)) rose 0.8% or 18 cents to $20.32 after the bookseller reported fourth quarter sales increased to $1.37 billion from $1.32 billion in the same quarter last year. Comparable stores sales rose 2.8%. Net loss in the quarter widened to $59.4 million or $1.04 per diluted share compared to $32.0 million or $0.58 per share a year ago.

Carnival Corporation ((CCL)) gained 3.3% or $1.18 to $36.91 after the cruise and vacation company reported second quarter revenues increased to $3.6 billion from $3.3 billion in the same quarter last year. Net income in the quarter fell to $206 million or 26 cents per diluted share compared to $252 million or 32 cents per share a year earlier.

Commercial Metals Company ((CMC)) increased 7% or 95 cents to $14.59 after the steel and metal fabricator said third quarter sales increased to $2.1 billion from $1.8 billion in the same quarter last year. Net earnings in the quarter were $36.1 million or 31 cents per diluted share compared to net loss of $8.8 million or 8 cents per share a year earlier.

Ennis, Inc. ((EBF)) increased 1.4% or 24 cents to $17.19 after the business products maker said first quarter revenues rose 1.8% to $143.3 million from $140.7 million a year ago. Net earnings in the quarter fell to $11.4 million or 44 cents per diluted share compared to $13.0 million or 50 cents per share a year earlier.

Gerber Scientific, Inc. ((GRB)) rose 0.3% or 4 cents to $11.04 after the automated equipment and software company said fourth quarter revenues increased 16.4% to $126.7 million from $108.8 million a year ago. Net loss in the quarter widened to $10.8 million or 43 cents per diluted share compared to $1.6 million or 6 cents per share a year ago.

Jefferies Group, Inc. ((JEF)) fell 0.8% or 19 cents to $21.06 after the securities and investment bank reported second quarter net revenues rose 9% to $727.2 million from $667.5 million a year ago. Net income in the quarter fell to $80.6 million or 36 cents per diluted share compared to $83.8 million or 41 cents per share a year earlier.

Susquehanna Bancshares, Inc. ((SUSQ)) decreased 8.8% or 74 cents to $7.60 after the financial holding company will acquire Tower Bancorp, Inc. ((TOBC)). The transaction total valued of $343 million and expected to be completed in the first quarter of 2012. Tower shareholders have option of receiving either 3.47 shares of Susquehanna common stock or $28.00 in cash for each share of Tower.

Walgreen Co. ((WAG)) slipped 6% or 2.71 to $42.47 after the retail drugstore chain reported third quarter sales increased 6.8% to $18.4 billion from $17.2 billion in the same quarter last year. Total sales in comparable stores increased 4.1%. Net earnings in the quarter grew to $603 million or 65 cents per diluted share compared to $463 million or 47 cents per share a year ago.