U.S. Movers: Ascena, Clarcor, Fundtech, Netflix, Pier 1, Marcus

Mukesh Buch
15 Sep, 2011
New York City

Clarcor third quarter income increased to $32.1 million. Fundtech received superior merger offer from GTCR. Netflix plunged after it trimmed its subscriber estimate by 1 million. Pier 1 second quarter net income rose 4.9% to $16.6 million.

[R]11:20 AM New York – Clarcor third quarter income increased to $32.1 million. Fundtech received superior merger offer from GTCR. Netflix plunged after it trimmed its subscriber estimate by 1 million. Pier 1 second quarter net income rose 4.9% to $16.6 million.[/R]

Ascena Retail Group Inc ((ASNA)) decreased 4.8% or $1.36 to $26.80 after the apparel retailer reported fourth quarter sales rose 2% to $725.8 million from $710.9 million in the same quarter last year. Net income in the quarter decreased to $28.2 million or 35 cents per diluted share compared to $42.0 million or 52 cents per share a year ago.

Apogee Enterprises, Inc. ((APOG)) rose 0.1% or 1 cent to $9.29 after the commercial glass products maker said second quarter revenue increased 14% to $165.6 million from $144.7 million a year ago. Net loss in the quarter widened to $1.68 million or 6 cents per diluted share compared to $0.12 million or break even per share a year ago period.

Clarcor Inc. ((CLC)) slipped 8.9% or $4.11 to $41.73 after the filtration products provider reported third quarter revenue increased 8% to $284.8 million from $262.8 million a year ago. Net income in the quarter increased to $32.1 million or 63 cents per diluted share compared to $28.3 million or 55 cents per share in last year.

Fundtech Ltd. ((FNDT)) soared 30.1% or $5.29 to $22.85 after the financial transaction software solutions provider received superior offer from GTCR Fund X/A LP at $23.33 per share in cash. The company yesterday terminated its merger plan with S1 Corp.

Netflix, Inc. ((NFLX)) slumped 13.8% or $29 to $179.71 after the online television shows and movie portal said it no longer expects its customer base in the U.S. to growth this quarter and lowered its domestic subscriber base by 1 million.

Pier 1 Imports, Inc. ((PIR)) decreased 5% or 59 cents to $11.08 after the home furnishing retailer reported second quarter net sales increased to $339.5 million from $309.9 million in the same quarter last year. Comparable store sales increase 10.8%.

Net income in the quarter rose 4.9% to $16.6 million or 14 cents per diluted share compared to $14.4 million or 12 cents per share a year ago.

The Marcus Corporation ((MCS)) increased 15% or $1.31 to $10.02 after the movie theatres and resorts operator said first quarter revenue increased 8.7% to $123.9 million from $113.9 million a year ago. Net earnings in the quarter soared 24.5% to $12.5 million or 42 cents per diluted share compared to $10.0 million or 34 cents per share in last year.