U.S. Movers: AAR, A. Schulman, Hi-Tech, Lumber

Mukesh Buch
07 Jul, 2011
New York City

AAR fourth quarter net income soared 32% but A. Schulman third quarter net income fell 28%. International Speedway second quarter sales fell. Lumber Liquidators revised expected net sales of second, third and fourth quarters.

[R]10:35 PM New York – AAR fourth quarter net income soared 32% but A. Schulman third quarter net income fell 28%. International Speedway second quarter sales fell. Lumber Liquidators revised expected net sales of second, third and fourth quarters.[/R]

Of 30 the stocks in the Dow, 27 increased and 2 decreased and 1 unchanged.

Of the stocks in the Dow Jones Industrial Average, JPMorgan Chase & Co. led the gainers with a rise of 1.95% followed by increase in Caterpillar Inc. of 1.69%, in Bank of America Corporation of 1.30%, in E. I. du Pont de Nemours and Company of 1.14%, in Wal-Mart Stores, Inc. of 1.06%.

Pfizer Inc. led the decliners with a fall of 2.19%, followed by decline in International Business Machines Corporation of 0.59%.

Other Movers

AAR CORP. ((AIR)) gained 6.1% or $1.76 to $30.43 after the aircraft parts maker reported fourth quarter sales soared 32% to $479.8 million from $364.8 million in the same quarter last year. Net income in the quarter increased to $21.4 million or 52 cents per diluted share compared to $11.2 million or 29 cents per share a year earlier.

A. Schulman, Inc. ((SHLM)) decreased 1.2% or 33 cents to $25.59 after the plastic compounds and resin supplier reported third quarter net sales surged 45.4% to $611.1 million from $420.3 million in the same quarter last year. Net income in the quarter fell to $18.8 million or 60 cents per diluted share compared to $25.8 million or 91 cents per share a year ago.

Helen of Troy Corporation ((HELE)) fell 0.2% or 7 cents to $35.60 after the Bermuda based consumer product developer reported first quarter net sales soared 69.5% to $271.5 million from $160.1 million in the same quarter last year. Net income in the quarter increased 9.1% to $24.6 million or 78 cents per diluted share compared to $18.4 million or 59 cents per share a year earlier.

Hi-Tech Pharmacal Co, Inc. ((HITK)) increased 4.9% or $1.44 to $30.41 after the pharmaceutical company said fourth quarter net sales soared 45% to $57.2 million from $39.4 million in the same quarter last year. Net income in the quarter rose to $12.6 million or 98 cents per diluted share compared to $6.5 million or 50 cents per share a year earlier.

International Speedway Corporation ((ISCA)) rose 1% or 30 cents to $30.20 after the motor-sports promoter reported second quarter revenues decreased to $138.8 million from $142.2 million in the same quarter last year. Net income in the quarter rose to $11.9 million or 25 cents per diluted share compared to $10.3 million or 21 cents per share a year earlier.

OCZ Technology Group, Inc. ((OCZ)) advanced 11% or 92 cents to $9.25 after the computer storage devices provider said first quarter revenues increased 115% to $73.8 million from $34.3 million in the same quarter last year. Net loss in the quarter widened to $9.1 million or 20 cents per diluted share compared to $4.8 million or 19 cents per share a year earlier.

Lumber Liquidators Holdings, Inc. ((LL)) slumped 22.4% or $5.51 to $21.13 after the hardwood flooring specialty retailer said net sales in the second quarter expected to increase 4% to $175.5 million from $168.7 million in the year ago quarter. The company now anticipates second quarter earnings per diluted share will be in the range of $0.18 to $0.20.

Third quarter net sales is expected to in the range of $165 million to $180 million and fourth quarter net sales in the range of $170 million to $185 million.

Zep Inc. ((ZEP)) rose 0.4% or 8 cents to $19.78 after the cleaning and materials provider said third quarter reported revenues rose 9.7% to $168 million from $153 million in the same quarter last year. Net income in the quarter increased 19.3% to $6.2 million or 28 cents per diluted share compared to $5.2 million or 23 cents per share a year earlier.