U.S. Movers: 99Cents, AAR, Cooper, Diamond Foods, Research In Motion

Mukesh Buch
16 Sep, 2011
New York City

AAR first quarter net income rose to $16.6 million. Cooper Industries updated outlook for the third quarter sales expected to increase 9% to 12%. Research In Motion second quarter net income declined to $329 million.

[R]11:20 AM New York – AAR first quarter net income rose to $16.6 million. Cooper Industries updated outlook for the third quarter sales expected to increase 9% to 12%. Research In Motion second quarter net income declined to $329 million.[/R]

99Cents Only Stores ((NDN)) increased 9.4% or $1.77 to $20.47 after the consumable retailer on speculation Apollo Global Management LLC a private equity firm may bid for as much as $24 a share.

AAR Corporation ((AIR)) slipped 9% or $2.01 to $20.61 after the aviation and defense service provider reported first quarter sales increased 19% to $479.3 million from $404.4 million in the same quarter last year. Net income in the quarter rose to $16.6 million or 41 cents per diluted share compared to $13.7 million or 35 cents per share a year ago.

Cooper Industries plc ((CBE)) decreased 2.2% or $1.08 to $47.10 after the Ireland based electrical products maker updated outlook for the third quarter for fully diluted earnings per share to be in the range of $0.94 to $0.98 and sales expected to increase 9% to 12%. For the full year 2011, it’s expected fully diluted earnings per share from continuing operations to be in the range of $3.75 to $3.82.

Diamond Foods, Inc. ((DMND)) soared 11.9% or $9.32 to $87.55 after the packaged food company reported fourth quarter net sales soared 32% to $232.8 million from $176.6 million in the same quarter last year. Net income in the quarter increased 27% to $8.5 million or 37 cents per diluted share compared to $6.7 million or 30 cents per share a year ago period.

NetSol Technologies, Inc. ((NTWK)) decreased 8.8% or 7 cents to $0.76 after the automobile finance and leasing software maker said fourth quarter revenue fell to $6.9 million from $10.7 million a year ago. Net loss in the quarter was $1.1 million or 2 cents per diluted share compared to net income of $1.5 million or 4 cents per share a year ago period.

Research In Motion Limited ((RIMM)) slumped 19.4% or $5.74 to $23.80 after the Canada based mobile communication provider reported second quarter revenue decreased 10% to $4.2 billion from $4.6 billion in the same quarter last year. Net income in the quarter declined to $329 million or $0.63 per diluted share compared to $797 million or $1.46 per share a year ago.