U.S. Movers: Cintas, KB Home, Nike, Tibco, Finish Line, Mosaic

Mukesh Buch
23 Sep, 2011
New York City

Cintas first quarter net earnings increased 12% to $68.6 million. Cavium update financial outlook for third quarter. NIKE first quarter net income increased 15% to $645 million. Mosaic first quarter net earnings surged 77% to $526 million. TriQuint lowered its third-quarter earnings outlook.

[R]11:30 AM New York – Cintas first quarter net earnings increased 12% to $68.6 million. Cavium update financial outlook for third quarter. NIKE first quarter net income increased 15% to $645 million. Mosaic first quarter net earnings surged 77% to $526 million. TriQuint lowered its third-quarter earnings outlook.[/R]

Cintas Corporation ((CTAS)) increased 2.3% or 61 cents to $29.38 after the specialized products and services provider reported first quarter revenue grew 10.1% to $1,017.2 million from $923.9 million in the same quarter last year. Net earnings in the quarter increased 12% to $68.6 million or 52 cents per diluted share compared to $61.3 million or 40 cents per share a year ago.

Cavium, Inc. ((CAVM)) slumped 13.5% or $4.23 to $26.98 after the integrated semiconductor processors provider update financial outlook for third quarter and now expects revenue to be approximately 4% to 6% lower than second quarter revenue of $71.6 million.

KB Home ((KBH)) rose 0.3% or 2 cents to $5.74 after the homebuilder company said third quarter revenues decreased 27% to $367.3 million from $501.0 million in the same quarter last year. Net loss in the quarter widened to $9.6 million or 13 cents per diluted share compared to $1.4 million or 2 cents per share a year ago period.

NIKE, Inc. ((NIKE)) increased 4.7% or $4.03 to $88.21 after the footwear maker reported first quarter revenue soared 18% to $6.1 billion from $5.2 billion in the same quarter last year. Net income in the quarter increased 15% to $645 million or $1.36 per diluted share compared to $559 million or $1.14 per share a year ago.

Tibco Software Inc. ((TIBX)) gained 2.1% or 44 cents to $21.41 after the infrastructure software provider said third quarter total revenue grew to $229 million from $184.5 million in the same quarter last year. Net income in the quarter increased to $23.5 million or 14 cents per diluted share compared to $17.4 million or 10 cents per share a year ago earlier.

The Finish Line, Inc. ((FINL)) advanced 9.4% or $1.72 to $20.15 after the mall-based specialty retailer reported second quarter net sales increased 10.1% to $331.5 million from $301.1 million in the same quarter last year. Comparable store sales increased 11% compared to 2% for the same period a year ago. Net income in the quarter increased to $20.9 million or 39 cents per diluted share compared to $16.8 million or 31 cents per share a year ago period.

The Mosaic Company ((MOS)) decreased 5.2% or $3.13 to $56.98 after the agriculture products maker preliminary first quarter revenue soared 41% to $3.1 billion from $2.2 billion in the same quarter last year. Net earnings in the quarter surged 77% to $526 million or $1.17 per diluted share compared to $297.7 million or $0.69 per share a year ago.

TriQuint Semiconductor, Inc. ((TQNT)) increased 4% or 21 cents to $5.38 after the communication components supplier lowered its third-quarter earnings outlook, as now the company expects revenue to be in range of $210 million and $215 million and third quarter non-GAAP net income per share to be between $0.09 and $0.11. The company earlier estimated revenues between $225 million and $235 million for revenue and $0.16 to $0.18 for non-GAAP net income per share.