U.S. Movers: DeVry, J. C. Penney, Molycorp, Nordstrom, Nvidia, Progressive

Mukesh Buch
12 Aug, 2011
New York City

DeVry fourth quarter net income increased 5% to $75.2 million. J. C. Penney reported second quarter net income flat to $14 million. Nordstrom second quarter net income increased 20% to $175 million. Nvidia second quarter net income rose to $151.6 million.

[R]11:15 AM New York – DeVry fourth quarter net income increased 5% to $75.2 million. J. C. Penney reported second quarter net income flat to $14 million. Nordstrom second quarter net income increased 20% to $175 million. Nvidia second quarter net income rose to $151.6 million.[/R]

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

Of the stocks in the Dow Jones Industrial Average, Hewlett-Packard Company led the gainers with a rise of 2.93% followed by increase in The Walt Disney Company of 2.77%, in Caterpillar Inc. of 2.42%, in American Express Company of 1.93%, in Chevron Corporation of 1.73%.

Microsoft Corporation led the decliners with a fall of 1.59%, followed by decline in Cisco Systems, Inc. of 1.32%, in AT&T Inc. of 1.20%, in Verizon Communications Inc. of 0.72%, in Wal-Mart Stores, Inc. of 0.44%.

Other Movers

Air Lease Corporation ((AL)) increased 7% or $1.51 to $22.81 after the aircraft leasing company reported second quarter revenues soared to $74.3 million from $1.7 million in the same quarter last year. Net income in the quarter was $7 million or $0.08 per diluted share compared to net loss of $41.1 million or $2.37 per share a year ago.

Bally Technologies, Inc. ((BYI)) slumped 13.5% or $4.78 to $30.46 after the gaming products maker said fourth quarter rose 9% to $213.7 million from $195.3 million in the same quarter last year. Net income in the quarter decreased to $25.4 million or 51 cents per diluted share compared to $51.0 million or 89 cents per share a year earlier.

DeVry Inc. ((DV)) declined 16.1% or $8.63 to $44.76 after the educational service provider reported fourth quarter increased 7.9% to $546.7 million from $506.7 million in the same quarter last year. Net income in the quarter rose 5% $75.2 million or $1.08 per diluted share compared to $71.6 million or $0.99 per share a year ago period.

Darling International Inc. ((DAR)) decreased 2.8% or 44 cents to $15.22 after the food processing company reported second quarter net sales surged to $470.6 million from $166.2 million in the same quarter last year. Net income in the quarter soared to $52.2 million or 44 cents per diluted share compared to $11.4 million or 14 cents per share for the year-ago quarter.

Graham Packaging Company Inc. ((GRM)) fell 0.1% or 3 cents to $25.35 after the plastic containers maker said second quarter net sales increased 25.8% to $821.2 million from $652.8 million in the same quarter last year. Net loss in the quarter was $28.4 million or 43 cents per diluted share compared to net income of $33.5 million or 53 cents per share a year earlier.

J. C. Penney Company, Inc. ((JCP)) slipped 3.4% or 93 cents to $25.90 after the retailer said second quarter net sales fell 0.8% to $3.91 billion from $3.94 billion in the same quarter last year. Comparable store sales in the quarter rose 1.5%. Net income in the quarter flat to $14 million or 7 cents per diluted share compared to $14 million or 6 cents per share a year ago.

Molycorp, Inc. ((MCP)) increased 13.1% or $7.09 to $61.23 after the rare earth products producer reported second quarter sales soared 314% to $99.6 million from $1.9 million in the same quarter last year. Net income in the quarter swung $50.1 million or 52 cents per diluted share compared to net loss of $23.3 million or 47 cents per share a year ago period.

Nordstrom, Inc ((JWN)) increased 6.1% or $2.62 to $44.95 after the specialty retailer reported second quarter net sales increased 12.4% to $2.72 billion from $2.42 billion in the same quarter last year. Comparable store sales in the quarter increased 7.3%. Net earnings in the quarter increased 20% to $175 million or 80 cents per diluted share compared to $146 million or 66 cents per share a year earlier.

NVIDIA Corporation ((NVDA)) rose 0.4% or 6 cents to $13.47 after the graphic procession systems provider reported second quarter revenue increased 5.7% to $1,017 million from $962 million in the same quarter last year. Net income in the quarter rose to $151.6 million or 25 cents per diluted share compared to $135.2 million or 22 cents per share for the year-ago quarter.

The Progressive Corporation ((PGR)) fell 1.1% or 21 cents to $18.17 after the insurance company reported second quarter total revenues increased 5% to $3.87 billion from $3.69 billion in the same quarter last year. Net income in the quarter increased 16% to $245.2 million or 38 cents per diluted share compared to $211.9 million or 32 cents per share a year earlier.