U.S. Movers: Altera, Navistar, Nvidia, Talbots, VimpelCom, VeriFone

Mukesh Buch
07 Sep, 2011
New York City

Altera updated third quarter sales guidance. Navistar third quarter net income surged to $1.4 billion. Nvidia anticipates revenue of $4.7 billion to $5.0 billion in fiscal year 2013. VimpelCom second quarter net income declined 29% to $239 mn. VeriFone third quarter net income soared 42% to $26.3mn.

[R]11:10 AM New York – Altera updated third quarter sales guidance. Navistar third quarter net income surged to $1.4 billion. Nvidia anticipates revenue of $4.7 billion to $5.0 billion in fiscal year 2013. VimpelCom second quarter net income declined 29% to $239 million. VeriFone third quarter net income soared 42% to $26.3 million.[/R]

Of 30 the stocks in the Dow all increased.

Of the stocks in the Dow Jones Industrial Average, Bank of America Corporation led the gainers with a rise of 3.1% followed by increase in Alcoa Inc. of 2.8%, in Chevron Corporation of 2.7%, in Intel Corporation of 2.5%, in JPMorgan Chase & Co. of 2.1%.

Other Movers

Altera Corporation ((ALTR)) rose 0.4% or 17 cents to $35.03 after the semiconductor maker updated third quarter 2011 sales guidance. The company expects third quarter sales to be in the range of fell 3% to rise 1% from second quarter sales. Previous guidance was for sales growth of 2% to 6%.

Layne Christensen Company ((LAYN)) rose 0.8% or 21 cents to $25.96 after the construction service provider reported second quarter revenues increased 16.5% to $295.0 million from $253.3 million in the same quarter last year. Net income in the quarter soared 64.5% to $10.6 million or 54 cents per diluted share compared to $6.5 million or 33 cents per share a year ago.

Navistar International Corporation ((NAV)) fell 0.8% or 31 cents to $38.49 after the auto and truck manufacturers reported third quarter revenues rose to $3.54 billion from $3.22 billion in the same quarter last year. Net income in the quarter surged to $1.4 billion or $18.24 per diluted share compared to $0.12 billion or $1.56 per share a year ago earlier.

Nvidia Corporation ((NVDA)) increased 6.3% or 85 cents to $14.03 after the visual computing technology provider anticipates revenue of $4.7 billion to $5 billion and margin expects of approximately 51% to 53%. The company anticipates GAAP operating expenses of $1.54 billion to $1.61 billion.

Standex International Corporation ((SXI)) increased 8.9% or $2.37 to $28.84 after the diversified company said fourth quarter net sales climbed 14.8% to $174.6 million from $152.1 million last year. Net income for the quarter rose $10.3 million or 81 cents per diluted share compared to $8.4 million or 66 cents per share last year.

Sycamore Networks, Inc. ((SCMR)) increased 4.5% or 77 cents to $17.58 after the communications equipment maker reported fourth quarter revenues decreased to $13 million from $22.2 million in the same quarter last year. Net loss in the quarter was to $3.62 million or 13 cents per diluted share compared to $0.52 million or 2 cents per share a year ago quarter.

The Talbots, Inc. ((TLB)) advanced 8.3% or 21 cents to $2.74 after the specialty retailer said second quarter net sales decreased 9.9% to $271.1 million from $300.7 million last year. Comparable sales decreased 10.4%.

Net loss for the quarter was to $37.3 million or 54 cents per diluted share compared to net income of $0.9 million or 1 cent per share last year.

The Pep Boys-Manny, Moe & Jack ((PBY)) increased 5.7% or 54 cents to $10.02 after the automotive service provider reported second quarter sales grew 3.5% to $522.6 million from $504.9 million last year. Comparable sales fell 2%.

Net earnings for the quarter rose to $13.9 million or 26 cents per diluted share compared to $10.6 million or 20 cents per share last year.

VimpelCom Ltd. ((VIP)) decreased 2.7% or 30 cents to $10.57 after the Netherlands based communication service provider reported second quarter revenues surged 109% to $5.53 billion from $2.64 billion in the same quarter last year. Net income in the quarter declined 29% to $239 million or 16 cents per diluted share compared to $335 million or 28 cents per share a year ago earlier.

Viterra Inc. ((CA:VT)) advanced 5.1% or 54 cents to $10.84 after the Canada based agriculture business company reported third quarter sales soared 43% to $3.6 billion from $2.5 billion last year. Net earnings for the quarter almost doubled to $123.2 million or 33 cents per diluted share compared to $63.5 million or 17 cents per share last year.

VeriFone Systems, Inc. ((PAY)) increased 3.3% or $1.18 to $36.22 after the electronic payment solution reported third quarter revenues increased 21.2% to $317 million from $261 million in the same quarter last year. Net income in the quarter soared 42.1% to $26.3 million or 28 cents per diluted share compared to $18.5 million or 21 cents per share a year ago.