U.S. Movers: AMR Corp., Copart, Hillenbrand, Tiffany, Thor

Mukesh Buch
29 Nov, 2011
New York City

AMR Corp. filed voluntary petitions for Chapter 11 for Bankruptcy. Copart fourth quarter net increased 8.8% to $41.1 million. Seagate forecast higher sales for several quarters. Tiffany third quarter net surged 63% to $89.7 million.

[R]10:25 AM New York – AMR Corp. filed voluntary petitions for Chapter 11 for Bankruptcy. Copart fourth quarter net increased 8.8% to $41.1 million. Seagate forecast higher sales for several quarters. Tiffany third quarter net surged 63% to $89.7 million.[/R]

AMR Corporation ((AMR)) tumbled 87.6% or $1.42 or $0.20 after the parent of American Airlines, Inc. and AMR Eagle Holding Corporation filed bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York.

Beacon Roofing Supply, Inc. ((BECN)) dropped 6.5% or $1.27 to $18.19 after the building material distributor reported fourth quarter total sales increased 19.3% to $575.6 million from $482.6 million in the same quarter last year. Net income in the quarter rose 5.4% to $31.3 million or 67 cents per diluted share compared to $16.9 million or 37 cents share a year ago.

Copart, Inc. ((CPRT)) increased 2.7% or $1.18 to $43.98 after the online vehicle remarketing reported first quarter revenue grew 6.1% to $225.6 million from $212.7 million in the same quarter last year. Net income in the quarter increased 8.8% to $41.1 million or 62 cents per diluted share compared to $37.8 million or 45 cents share a year ago period.

Commercial Metals Company ((CMC)) rose 0.7% or 10 cents to $14.27 after the steel and metal products distributor said that the company has seen open letter released to press by Carl Icahn proposing to acquire all shares of Commercial Metals at a price of $15.00 per share. However, the board will review the letter.

Hillenbrand, Inc. ((HI)) increased 2.7% or 58 cents to $21.72 after the holding company reported fourth quarter revenue increased 9% to $231.2 million from $212 million in the same quarter last year. Net income in the quarter increased 17% to $23.5 million or 38 cents per diluted share compared to $20.1 million or 32 cents share a year ago quarter.

Magal Security Systems Ltd ((MAGS)) soared 41.8% or 1.11 cents to $3.76 after the Israel based security systems and service said third quarter revenue surged 107% to $27.7 million from $13.4 million in the same quarter last year. Net income in the quarter swung to $7.1 million or 61 cents per diluted share compared net loss of to $0.8 million or 8 cents share a year ago earlier.

Seagate Technology plc ((STX)) advanced 6.1% or 99 cents to $16.98 after the Ireland based computer disk drive makers update its financial outlook for the December and March 2012 quarters. The company said sales are expected to improve after months of constrained production linked to Thai floods and may ship between 110 million and 120 million units for several quarters.

Tiffany & Co. ((TIF)) dropped 9.4% or $6.92 to $66.70 after the jewelry retailer reported third quarter net sales soared 21% to $821.8 million from $681.7 million in the same quarter last year. Net earnings in the quarter surged 63% to $89.7 million or 70 cents per diluted share compared to $55.1 million or 43 cents share a year ago.

Thor Industries, Inc. ((THO)) slipped 4.1% or $1.02 to $23.32 after the recreational vehicle maker reported first quarter net sales grew to $673.0 million from $606.7 million in the same quarter last year. Net income in the quarter fell 3.3% to $22.4 million or 41 cents per diluted share compared to $23.7 million or 44 cents share a year ago earlier.