U.S. Movers: American Greetings, Ferrellgas, Neogen, Walgreen

Mukesh Buch
27 Sep, 2011
New York City

American Greetings second quarter net income soared to $14.5 million. Ferrellgas reported first quarter net loss widened to $40.5 million. OneOk estimated fiscal 2012 net income to increased 20%. Walgreen fourth quarter net income more than doubled to $792 million.

[R]10:40 AM New York – American Greetings second quarter net income soared to $14.5 million. Ferrellgas reported first quarter net loss widened to $40.5 million. OneOk estimated fiscal 2012 net income to increased 20%. Walgreen fourth quarter net income more than doubled to $792 million.[/R]

American Greetings Corporation ((AM)) decreased 2.4% or 50 cents to $19.87 after the greeting cards maker said second quarter revenue increased to $368.8 million from $342.8 million in the quarter a year ago. Net income in the quarter soared to $14.5 million or 35 cents per diluted share compared to $8.5 million or 21 cents per share a year ago.

Cal-Maine Foods, Inc. ((CALM)) increased 2.4% or 75 cents to $30.93 after the shell eggs producer said first quarter net sales increased 28% to $243.8 million from $190.4 million in the same quarter last year. Net income in the quarter decreased 13% to $3.1 million or 13 cents per diluted share compared to $4.8 million or 20 cents per share a year ago period.

Ennis, Inc. ((EBF)) fell 0.2% or 4 cents to $14.12 after the business forms maker said second quarter net sales decreased 8.8% to $130.4 million from $143.0 million in the same quarter last year. Net earnings in the quarter decreased to $9.7 million or 37 cents per diluted share compared to $12.1 million or 47 cents per share a year ago quarter.

Ferrellgas Partners, L.P. ((FGP)) fell 0.1% or 3 cents to $20.55 after the propane and related equipment distributor reported first quarter revenue increased 27% to $449.7 million from $353.8 million in the same quarter last year. Net loss in the quarter widened to $40.5 million or 53 cents per diluted share compared to $40.1 million or 58 cents per share a year ago earlier.

Neogen Corporation ((NEOG)) slumped 7.8% or $2.78 to $32.81 after the food and animal safety products maker said first quarter revenue increased 6.5% to $45.7 million from $42.9 million in the same quarter last year. Net income in the quarter rose 3.1% to $6.0 million or 25 cents per diluted share compared to $5.8 million or 25 cents per share a year ago.

OneOk Partners, L.P. ((OKS)) increased 3.2% or $1.41 to $44.69 after the natural gas process, storage and transportation provider estimated fiscal 2012 net income to increase 20% to $740 million to $800 million compared to current guidance range of $630 million to $660 million and distributable cash flow expected to be in range of $845 million to $915 million.

Park Electrochemical Corp. ((PKE)) increased 1.8% or 42 cents to $23.05 after the electronic instruments and controls maker said second quarter sales decreased to $50.4 million from $54.5 million in the same quarter last year. Net earnings in the quarter fell to $7.7 million or 37 cents per diluted share compared to $9.5 million or 46 cents per share a year ago period.

Walgreen Co. ((WAG)) slipped 3.8% or 1.33 cents to $34.70 after the drugstore operator reported fourth quarter net sales increased 6.5% to $18 billion from $16.9 billion in the same quarter last year. Total sales in comparable stores increased 4.4% and front-end comparable drugstore sales increased 4.6% for the same period of a year ago.

Net income in the quarter surged to $792 million or 87 cents per diluted share compared to $470 million or 49 cents per share a year ago period.