U.S. Movers: Bombardier, DryShips, Joy Global, PVH Corp, Vera Bradley

Mukesh Buch
31 Aug, 2011
New York City

Bombardier second quarter net income surged 53% to $211 million. DryShips reported second quarter net loss of $114.1 million. Joy Global third quarter net income soared 46% to $173.11 million. Lions Gate said Carl and Brett Icahn agreed to sell up to 44.2 million shares to the company.

[R]11:15 AM New York – Bombardier second quarter net income surged 53% to $211 million. DryShips reported second quarter net loss of $114.1 million. Joy Global third quarter net income soared 46% to $173.11 million. Lions Gate said Carl and Brett Icahn agreed to sell up to 44.2 million shares to the company.[/R]

Of 30 the stocks in the Dow, 29 increased and 1 decreased.

Of the stocks in the Dow Jones Industrial Average, Caterpillar Inc. led the gainers with a rise of 4.2% followed by increase in Alcoa Inc. of 3.9%, in General Electric Company of 2.1%, in United Technologies Corporation of 2%, in The Walt Disney Company of 1.8%.

International Business Machines Corporation led the decliners with a fall of 0.1%.

Other Movers

Bombardier, Inc., increased 2.3% or 12 cents to $5.04 after the Canadian aircraft and train maker reported second quarter revenues rose 17% to $4.75 billion from $4.04 billion in the comparable period. Net income in the quarter surged 53% to $211 million or 12 cents per diluted share compared to net income of $138 million or 7 cents per share a year earlier.

Canadian Imperial Bank of Commerce ((CM)) increased 4% or $3.05 to $77.75 after the financial institution reported third quarter total revenue increased to $3.06 billion from $2.85 billion in the same quarter last year. Net income in the quarter increased to $808 million or $1.89 per diluted share compared to $640 million or $1.53 per share a year ago.

DryShips Inc. ((DRYS)) decreased 4.5% or 14 cents to $3.02 after the Greece based holding company reported second quarter revenues fell to $224.02 million from $224.24 million in the prior year. Net loss in the quarter was to $114.1 million or 33 cents per share compared to net income of $19.5 million or 7 cents per share last year.

Genesco Inc. ((GCO)) increased 6.5% or $3.15 to $52.13 after the apparel and accessory retailer reported second quarter net sales increased to $470.6 million from $363.6 million in the same quarter last year. Net loss in the quarter narrowed to $0.4 million or 2 cents per diluted share compared to $3.2 million or 14 cents per share a year ago earlier.

Jos. A. Bank Clothiers, Inc. ((JOSB)) advanced 8.1% or $3.85 to $51.12 after the apparel and accessory retailer reported second quarter total sales increased 22.4% to $230.7 million from $188.4 a year ago, while comparable store sales increased 14.7% and direct marketing sales increased 27.8%.

Net income for the quarter rose 24.7% to $20.6 million or 74 cents per diluted share compared to net income of $16.5 million or 59 cents per share last year.

Joy Global Inc. ((JOYG)) increased 3.9% or $3.26 to $85.56 after the mining equipments maker reported third quarter net sales surged 33.7% to $1.14 billion from $850 million in the prior year. Net income in the quarter surged 46% to $173.11 million or $1.62 per share compared to net income of $118.50 million or $1.13 per share last year.

Lions Gate Entertainment Corp. ((LGF)) decreased 4.6% or 34 cents to $7.18 after the entertainment company said Carl and Brett Icahn agreed to sell up to 44,161,971 shares. Under the terms Lionsgate company has purchased 11,040,493 shares from Icahns at $7.00 per share in a transaction to be completed by September 2.

LTX-Credence Corporation ((LTXC)) slumped 17.8% or $1.18 to $5.43 after the automated test equipment solutions provider said fourth quarter revenues decreased to $62.7 million from $73.2 million in the same quarter last year. Net income in the quarter fell to $12.1 million or 24 cents per diluted share compared to $13.7 million or 27 cents per share a year ago.

PVH Corp., formerly Phillips-Van Heusen Corporation ((PVH)) increased 4.3% or $2.85 to $67.75 after the apparel company reported second quarter revenue soared 21% to $1.33 billion from $1.10 billion in the same quarter last year. Net income in the quarter swung to $66.7 million or $0.92 per diluted share compared to net loss of $70.6 million or $1.07 per share a year ago.

Rex American Resources Corporation ((REX)) increased 5.7% or 93 cents to $17.16 after the alternative energy and real estate operator said second quarter revenues increased 13.5% to $73.9 million from $65.1 million in the same quarter last year. Net income in the quarter rose to $2.3 million or 25 cents per diluted share compared to $1.2 million or 12 cents per share a year ago.

Vera Bradley, Inc. ((VRA)) soared 10.5% or $3.22 to $33.79 after the women’s apparel and accessory retailer reported second quarter revenues soared 30% to $103.8 million from $80.1 million in the same quarter last year. Net income in the quarter increased to $13.6 million or 34 cents per diluted share compared to $9.2 million or 26 cents per share a year ago earlier.

The Fresh Market, Inc. ((TFM)) gained 9.2% or $3.20 to $38.04 after the organic and fancy food retailer reported second quarter net sales increased 13.6% to $259.5 million from $228.4 million in the same quarter last year. Comparable store sales increased 4.6%.

Net income in the quarter fell to $10.5 million or 22 cents per diluted share compared to $11.3 million or 24 cents per share a year ago.

Zipcar, Inc. ((ZIP)) increased 4.1% or 84 cents to $21.20 after the car sharing network operator and Ford arranged a 2-year deal to provide access to Ford vehicles to university students.