U.S. Movers: Ashland, Dean Foods, GM. HSBC, Macy

Mukesh Buch
09 Nov, 2011
New York City

Ashland reported fourth quarter net loss widened to $263 million. Dean Foods said net in third quarter swung to a loss $1.54 billion. General Motors third quarter net fell to $1.7 billion. Macy

[R]11:30 AM New York – Ashland reported fourth quarter net loss widened to $263 million. Dean Foods said net in third quarter swung to a loss $1.54 billion. General Motors third quarter net fell to $1.7 billion. Macy’s third quarter net soared to $139 million. Ralph Lauren said second quarter net rose to $233.5 million.[/R]

Ashland Inc. ((ASH)) dropped 9% or $5.00 to $50.20 after the specialty chemical maker company reported fourth quarter sales increased to $1.85 billion from $1.52 billion in the year-ago quarter. Net loss in the quarter widened to $263 million or $3.38 per diluted share compared to $141 million or $1.79 per share in the year ago.

Accretive Health, Inc. ((AH)) slumped 11.1% or $3.19 to $25.43 after the healthcare company said third quarter revenue rose to $218.9 million from $158.4 million in the year-ago quarter. Net income in the quarter soared to $7.3 million or 7 cents per diluted share compared to $2.9 million or 3 cents per share in the year ago period.

Activision Blizzard, Inc. ((ATVI)) decreased 5.1% or 71 cents to $13.22 after the online game publisher reported third quarter net revenue grew to $754 million from $745 million in the year-ago quarter. Net income in the quarter surged to $148 million or 13 cents per diluted share compared to $51 million or 4 cents per share in the year ago quarter.

Blue Nile, Inc. ((NILE)) tumbled 30.9% or $15.09 to $33.72 after the online diamonds and jewelry retailer said third quarter net sales increased 11.2% to $75.0 million from $67.4 million in the year-ago quarter. Net income in the quarter fell to $1.87 million or 13 cents per diluted share compared to $2.77 million or 19 cents per share in the year ago earlier.

Computer Sciences Corporation ((CSC)) dropped 11.2% or $3.70 to $29.27 after the information technology reported second quarter rose 1% to $3.97 billion from $3.94 billion in the year-ago quarter. Net loss in the quarter swung to $2.87 billion or $18.56 per diluted share compared to net income of $184 million or $1.18 per share in the year ago period.

CGGVeritas ((CGV)) gained 3.4% or 78 cents to $23.58 after the France based geophysical equipments maker reported third quarter revenue increased 21% to $797 million from $656 million in the year-ago quarter. Net income in the quarter rose to $40.6 million or 24 cents per ADS share compared to $32.6 million or 23 cents per share in the year ago quarter.

CTC Media, Inc. ((CTCM)) slipped 8.5% or 96 cents to $10.12 after the Russia based television network operator reported third quarter revenues soared 27% to $159.6 million from $125.3 million in the year-ago quarter. Net income in the quarter declined 33% to $16.4 million or 10 cents per diluted share compared to $24.3 million or 16 cents per share in the year ago earlier.

Dean Foods Company ((DF)) decreased 5% or 53 cents to $9.95 after the food and beverage company reported third quarter net sales rose to $3.41 billion from $3.05 billion in the year-ago quarter. Net loss in the quarter swung to $1.54 billion or $8.39 per diluted share compared to net income of $0.24 billion or $0.13 per share in the year ago.

Enbridge Inc. ((ENB)) fell 0.3% or 12 cents to $34.84 after the Canada based natural gas transportation and distribution reported third quarter revenue grew to $4.27 billion from $3.50 billion in the year-ago quarter. Net income in the quarter plunged to $4 million or 1 cent per diluted share compared to $157 million or 21 cents per share in the year ago.

General Motors Company ((GM)) dropped 8% or $2.02 to $23.03 after the automotive company reported third quarter revenue increased to $36.7 billion from $34.1 billion in the year-ago quarter. Net income in the quarter fell to $1.7 billion or $1.03 per diluted share compared to $2.0 billion or $1.20 per share in the year ago.

HSBC Holdings plc ((HBC)) slumped 7.8% or $3.42 to $40.35 after the UK based bank reported third quarter net interest income rose to $10.4 billion from $9.8 billion in the year-ago quarter. Net income in the quarter soared to $5.2 billion or 28 cents per diluted share compared to $3.4 million or 17 cents per share in the year ago.

Macy’s, Inc. ((M)) decreased 4.3% or $1.39 to $30.78 after the retail stores operator reported third quarter sales grew 4.1% to $5.85 billion from $5.62 billion in the year ago quarter. Macy''s, same store sales for the third quarter were increased 4%.

Net income in the quarter soared to $139 million or 32 cents per diluted share compared to $10 million or 2 cents per share in the year ago.

PriceSmart, Inc. ((PSMT)) declined 19.1% or $14.88 to $62.83 after the warehouse club reported fourth quarter total revenues increased to $447.4 million from $365.7 million in the year-ago quarter. Net income in the quarter fell to $12.7 million or 42 cents per diluted share compared to $13.2 million or 44 cents per share in the year ago earlier.

Ralph Lauren Corporation ((RL)) slipped 6% or $9.59 to $149.46 after the apparel, accessories designer reported second quarter revenue increased 24% to $1.90 billion from $1.53 billion in the year-ago quarter. Net income in the quarter rose to $233.5 million or $2.46 per diluted share compared to $205.2 million or $2.09 per share in the year ago.

Rovi Corporation ((ROVI)) declined 33.1% or $15.26 to $30.76 after the digital entertainment provider reported third quarter revenue grew to $196.5 million from $138.0 million in the year-ago quarter. Net income in the quarter declined to $1.8 million or 2 cents per diluted share compared to $36.4 million or 33 cents per share in the year ago earlier.

Silver Wheaton Corp. ((SLW)) rose 0.2% or 10 cents to $36.49 after the Canada based mining company reported third quarter revenue grew to $185.2 million from $92.8 million in the year-ago quarter. Net income in the quarter soared 96% to $135.0 million or 38 cents per diluted share compared to $23.7 million or 7 cents per share in the year ago period.

TransGlobe Energy Corporation ((TGA)) fell 4% or 41 cents to $9.79 after the oil and gas company said third quarter revenue increased to $71.9 million from $38.8 million in the year-ago quarter. Net income in the quarter surged to $26.1 million or 35 cents per diluted share compared to $9.3 million or 13 cents per share in the year ago earlier.

Weight Watchers International, Inc. ((WTW)) decreased 5.6% or $4.13 to $67.71 after the online weight management provider reported third quarter revenue soared 29.6% to $428.4 million from $330.6 million in the year-ago quarter. Net income in the quarter surged to $80.7 million or $1.09 per diluted share compared to $44.4 million or $0.59 per share in the year ago earlier.