U.S. Movers: American Eagle, Avago, CVS, Calpine, Toll Brothers

Mukesh Buch
24 Aug, 2011
New York City

American Eagle said second quarter net income soared 104% to $19.6 million. Avago third quarter net income increased to $144 million. CVS Caremark new share repurchase program for $4 billion. Toll Brothers third quarter net income increased to $42.1 million.

[R]11:35 AM New York – American Eagle said second quarter net income soared 104% to $19.6 million. Avago third quarter net income increased to $144 million. CVS Caremark new share repurchase program for $4 billion. Toll Brothers third quarter net income increased to $42.1 million.[/R]

Of 30 the stocks in the Dow, 24 increased and 6 decreased.

Of the stocks in the Dow Jones Industrial Average, Intel Corporation led the gainers with a rise of 0.76% followed by increase in Exxon Mobil Corporation of 0.61%, in Chevron Corporation of 0.31%, in Alcoa Inc. of 0.09%, in The Procter & Gamble Company of 0.05%.

Bank of America Corporation led the decliners with a fall of 8.1%, followed by decline in JPMorgan Chase & Co. of 2.6%, in American Express Company of 2.4%, in Hewlett-Packard Company of 1.8%, in Caterpillar Inc. of 1.3%.

Other Movers

American Eagle Outfitters, Inc. ((AEO)) slipped 9.6% or $1.12 to $10.50 after the apparel and accessories retailer said second quarter total sales rose 4% to $675.7 million from $651.5 million last year. Net income in the quarter soared 104% to $19.6 million or 10 cents per diluted share compared to $9.6 million or 5 cents per share a year ago.

Avago Technologies Ltd ((AVGO)) increased 10.7% or $3.18 to $32.44 after the Singapore based analog semiconductor devices maker reported third quarter revenue increased 10% to $603 million from $560 million in the same quarter last year. Net income in the quarter increased to $144 million or 57 cents per diluted share compared to $123 million or 50 cents per share a year ago period.

Aspen Technology, Inc. ((AZPN)) increased 15.1% or $2.10 to $15.98 after the process optimization software provider reported fourth quarter revenues soared 38% to $52.6 million from $38.2 million in the year-ago quarter. Net income in the quarter was $41.7 million or 43 cents per diluted share compared to a net loss of $34.0 million or 37 cents per share in the year-ago period.

CVS Caremark Corporation ((CVS)) gained 2.3% or 78 cents to $34.17 after the pharmacy healthcare provider said its board approved a new share repurchase program for as much as $4 billion of the company''s outstanding common stock. Repurchase authorization effective immediately.

Calpine Corporation ((CPN)) advanced 4.2% or 56 cents to $13.75 after the wholesale power company has obtained $373 million credit facility to finance construction of 120 MW upgrade of Los Esteros Critical Energy Facility of California. The company also announced that repurchase up to $300 million in shares of its common stock.

Globe Specialty Metals, Inc. ((GSM)) slipped 9.3% or $1.70 to $16.50 after the silicon metal and silicon-based alloy producer reported fourth quarter net sales increased 20% to $175.93 million from $146.44 million in the same period last year. Net income in the quarter surged 135% to $15.55 million or 20 cents per diluted share compared to $6.61 million or 9 cents per share in the year-ago quarter.

Immunomedics, Inc. ((IMMU)) decreased 4.2% or 15 cents to $3.40 after the biopharmaceutical company said fourth quarter revenue increased to $11.1 million from $6.1 million in the same quarter last year. Net income in the quarter increased to $2.3 million or 3 cents per diluted share compared to $0.7 million or 1 cent per share a year ago period.

Shanda Games Limited ((GAME)) rose 0.6% or 3 cents to $4.91 after the China based online game company said second quarter reported second quarter net revenues advanced 19% to 1.32 billion renminbi from 1.11 billion renminbi in the second quarter last year. Net income in the quarter improved 0.3% to 305.2 million renminbi or 0.54 renminbi per share from 304.3 million renminbi or 0.53 renminbi per share in the second quarter last year.

Toll Brothers, Inc. ((TOL)) gained 3.8% or 56 cents to $15.30 after the construction services provider reported third quarter revenue decreased 13% to $394.3 million from $454.2 million in the same quarter last year. Net income in the quarter increased to $42.1 million or 25 cents per diluted share compared to $27.3 million or 16 cents per share a year ago.

The Hain Celestial Group, Inc. ((HAIN)) increased 4.4% or $1.38 to $32.24 after the organic food manufacturer reported fourth quarter net sales increased 31.1% to $292.0 million compared with $222.8 million in the second quarter of fiscal 2010. Net income in the quarter soared 92% to $12.8 million or 28 cents per diluted share compared to $6.7 million or 16 cents per share last year.