U.S. Movers: Barnes & Noble, Dollar General, DSW, Peabody, VeriFone

Mukesh Buch
30 Aug, 2011
New York City

Dollar General second quarter net income increased 3.4% to $146.04 million. DSW second quarter net income soared 43.7% to $33.7 million. Peabody agreed for takeover of Macarthur Coal valuing A$4.8 billion. Bank of Nova Scotia third quarter net income increased 18% to $1.3 billion.

[R]11:15 AM New York – Dollar General second quarter net income increased 3.4% to $146.04 million. DSW second quarter net income soared 43.7% to $33.7 million. Peabody agreed for takeover of Macarthur Coal valuing A$4.8 billion. Bank of Nova Scotia third quarter net income increased 18% to $1.3 billion.[/R]

Of 30 the stocks in the Dow, 4 increased and 26 decreased.

Of the stocks in the Dow Jones Industrial Average, The Boeing Company led the gainers with a rise of 0.6% followed by increase in AT&T Inc. of 0.2%, in Microsoft Corporation of 0.2%, in Verizon Communications Inc., of 0.06%.

Bank of America Corporation led the decliners with a fall of 3.4%, followed by decline in Alcoa Inc. of 2.5%, in JPMorgan Chase & Co. of 2%, in Cisco Systems, Inc. of 1.9%, in American Express Company of 1.8%.

Other Movers

1-800-FLOWERS.COM, Inc. ((FLWS)) fell 0.3% or 1 cent to $2.73 after the florist said fourth quarter revenues increased 13.1% to $187.1 million from $165.4 million in the same quarter last year. Net loss in the quarter narrowed to $0.08 million or break even per diluted share compared to $5 million or 8 cents per share a year ago.

Barnes & Noble, Inc. ((BKS)) soared 15.2% or $1.74 to $13.20 after the bookseller reported first quarter total sales gained 2% to $1.42 billion compared with $1.395 billion in the prior year. Net loss in the quarter narrowed 9.5% to $56.61 million or 99 cents per diluted share compared to net loss of $62.52 million or $1.12 per share last year.

Contango Oil & Gas Company ((MCF)) fell 0.2% or 16 cents to $60.46 after the natural gas and oil company reported fourth quarter increased to $48.9 million from $40.1 million in the same quarter last year. Net income in the quarter rose $17.5 million or $1.12 per diluted share compared to net income of $15.4 million or $0.95 per share a year ago earlier.

Dollar General Corp. ((DG)) increased 4.2% or $1.47 to $35.26 after the discount retailer reported second quarter net sales climbed 11.2% to $3.58 billion from $3.21 billion last year. Net income for the quarter increased 3.4% to $146.04 million or 42 cents per diluted share compared with net income of $141.20 million or 41 cents per share last year.

DSW Inc. ((DSW)) increased 1% or 47 cents to $47.52 after the footwear specialty retailer reported second quarter net sales grew 14.7% to $476.31 million from $415.12 million in the same quarter a year earlier. Comparable sales increased 12.3% this quarter compared to a 12% rise in the prior-year quarter.

Net income in the quarter rose 43.7% to $33.7 million or 74 cents per diluted share compared with net income of $23.5 million or 52 cents per share in the same quarter a year earlier.

Peabody Energy Corporation ((BTU)) fell 0.6% or 32 cents to $48.27 after the coal producer and ArcelorMittal ((MT)) agreed for cash takeover of all outstanding shares of Macarthur Coal for A$16.00 per share valuing A$4.8 billion.

The Bank of Nova Scotia ((BNS)) fell 0.1% or 6 cents to $53.59 after the Canada based financial institution reported third quarter total interest income increased to $4.94 billion from $4.38 billion in the same quarter last year. Net income in the quarter increased 18% to $1.3 billion or $1.11 per diluted share compared to $1.1 billion or $0.98 per share a year ago.

Universal Display Corporation ((PANL)) increased 0.9% or 48 cents to $51.70 after the developer of flat panel display entered into license agreement with Panasonic Idemitsu OLED Lighting Co., Ltd., Japan. The term of the agreement runs through July 31, 2014.

VeriFone Systems, Inc. ((PAY)) rose 0.2% or 10 cents to $35.04 after the electronic payment solution provider announced new direct distribution relationship for retailer’s acquirers and processors in Germany, Italy, France, Spain, Austria and Switzerland.

Winn-Dixie Stores, Inc. ((WINN)) decreased 6% or 46 cents to $7.14 after the food retailer reported fourth quarter net sales decreased 3.8% to $1.61 billion from $1.68 billion last year. Fourth quarter identical store sales increased 3.2%.

Net income for the quarter decreased to $7.3 million or 13 cents per diluted share compared to $14.0 million or 25 cents per share last year.