U.S. Movers: Alcoa, Adtran, Host Hotels, Liz Claiborne, NeuStar, PepsiCo

Mukesh Buch
12 Oct, 2011
New York City

Alcoa third quarter net income increased 21% to $172 million. Liz Claiborne agreed to sell its brands to retailers J.C. Penney and Kohl''''s. PepsiCo third quarter net income rose 4% to $2 billion.

[R]11:10 AM New York – Alcoa third quarter net income increased 21% to $172 million. Liz Claiborne agreed to sell its brands to retailers J.C. Penney and Kohl''s. PepsiCo third quarter net income rose 4% to $2 billion.[/R]

Alcoa Inc. ((AA)) decreased 4.3% or 45 cents to $9.85 after the aluminum producer reported third quarter revenues soared 21% to $6.4 billion from $5.3 billion in the same quarter last year. Net income in the quarter surged to $172 million or 15 cents per diluted share compared to $61 million or 6 cents per share a year ago.

Adtran, Inc ((ADTN)) dropped 8.3% or $2.53 to $27.65 after the communication equipment provider reported third quarter sales increased 18% to $192.2 million from $162.9 million in the same quarter last year. Net income in the quarter rose to $36.2 million or 56 cents per diluted share compared to $32.1 million or 50 cents per share a year ago.

ASML Holding N.V. ((ASML)) increased 8.3% or $3.3 to $39.20 after the Netherlands based holding company stated third quarter total net sales increased to €1.46 billion from €1.18 billion in the same quarter last year. Net income for the quarter increased to €355.2 million or €84 cents per diluted share compared to €268.5 million or €61 cents per share for the year-ago quarter.

Art''s Way Manufacturing Co., Inc. ((ARTW)) soared 21.3% or $1.09 to $6.19 after the agricultural machinery maker said third quarter revenue decreased 12.6% to $9.2 million from $10.6 million in the same quarter last year. Net income in the quarter soared 35.7% to $1.02 million or 25 cents per diluted share compared to $0.75 million or 19 cents per share a year ago period.

Host Hotels & Resorts, Inc. ((HST)) increased 3.7% or 42 cents to $11.78 after the real estate investment trust said fourth quarter total revenues increased 14% to $1.14 billion from $1.0 billion in the same quarter last year. Net loss in the quarter narrowed to $33 million or 5 cents per diluted share compared to $58 million or 9 cents per share for the year-ago quarter.

Healthcare Services Group, Inc. ((HCSG)) rose 1.6% or 28 cents to $17.80 after the housekeeping service provider reported third quarter revenues increased 12% to $218.9 million from $195.1 million in the same quarter last year. Net income in the quarter rose 9% to $10.0 million or 15 cents per diluted share compared to $9.2 million or 14 cents per share a year ago.

Hewlett-Packard Company ((HPQ)) fell 0.5% or 14 cents to $25.78 on the speculation that the technology company may reconsider spinning off its personal computer division keeping in view the costs may outweigh the benefits.

Liz Claiborne, Inc. ((LIZ)) surged 32.3% or $1.65 to $6.75 after the specialty retailer agreed to sell its Liz Claiborne and Monet brands to J.C. Penney Company, Inc. and Kensie brand to Bluestar Alliance and completes the sale of Dana Buchman brand to Kohl''s for total cash of approx $328 million. The transactions are expected to close in fourth quarter of 2011.

The company said after closing of these transactions expects year end net debt to be in the range of $270 to $290 million.

NeuStar, Inc. ((NSR)) increased 8.5% or $2.39 to $30.43 after the communications service provider said third quarter revenues increased 18% to $152.5 million from $129.4 million in the same quarter last year. Net income in the quarter increased to $37.8 million or 51 cents per diluted share compared to $29.9 million or 39 cents per share a year ago period.

The company also agreed to acquire Targus Information Corporation the leading provider of real-time, on-demand including Caller ID for $650 million in cash.

PepsiCo, Inc. ((PEP)) gained 3.1% or $1.91 to $62.86 after the beverage company reported third quarter net revenues grew 13% to $17.6 billion from $15.5 billion in the same quarter last year. Net income in the quarter increased 4% to $2 billion or $1.25 per diluted share compared to $1.9 billion or $1.19 per share a year ago.

Sensata Technologies Holding N.V. ((ST)) rose 1% or 29 cents to $28.99 after the Netherlands based global private investment firm associated with Bain Capital Partners, LLC may acquire a Japanese restaurant chain Skylark from Nomura Holdings for $3.4 billion.