U.S. Movers: Alcoa, DSW, Jones Group, Juniper Networks, WD-40

Mukesh Buch
10 Jan, 2012
New York City

Alcoa fourth quarter net swung to $191 million. Corus Entertainment first quarter net rose to $52.7 million. DSW raised its annual diluted earnings per share outlook and Jones Group cut its fourth quarter revenue outlook. WD-40 first quarter net declined 25%.

[R]10:15 AM New York – Alcoa fourth quarter net swung to $191 million. Corus Entertainment first quarter net rose to $52.7 million. DSW raised its annual diluted earnings per share outlook and Jones Group cut its fourth quarter revenue outlook. WD-40 first quarter net declined 25%.[/R]

Alcoa Inc. ((AA)) rose 9 cents to $9.51 after the aluminum producer reported fourth quarter revenue increased 6% to $6.0 billion from $5.7 billion in the same quarter last year. Net loss in the quarter swung to $191 million or 18 cents per diluted share compared net income of $258 million or 24 cents share a year ago.

Corus Entertainment Inc., the Canada based media and entertainment reported first quarter revenue increased 7% to $236.9 million from $222.2 million in the same quarter last year. Net income in the quarter rose to $52.7 million or 61 cents per diluted share compared $49.5 million or 58 cents share a year ago quarter.

DSW Inc. ((DSW)) gained 12.5% or $5.35 to $47.99 after the branded footwear specialty retailer raised its annual diluted earnings per share guidance between ranges of $2.96 to $2.99 for fiscal 2011 from $2.90 to $2.95.

Juniper Networks, Inc. ((JNPR)) increased 1.7% or 38 cents to $21.91 after the network infrastructure provider said revenue are expected to be in the range of $1.11 billion to $1.12 billion compared to earlier guidance of $1.16 billion to $1.22 billion on weaker than expected router demand.

OCZ Technology Group, Inc. ((OCZ)) decreased 2.2% or 18 cents to $7.92 after the computer devices maker said third quarter net revenue surged 94% to $103.1 million from $53.2 million in the same quarter last year. Net loss in the quarter narrowed to $0.9 million or 2 cents per diluted share compared to $8.3 million or 29 cents share a year ago period.

OCZ also agreed to acquire SANRAD Inc. privately held flash caching and virtualization software and hardware provider. The aggregate purchase price of the acquisition was $15 million.

Standard Microsystems Corporation ((SMSC)) slipped 1.6% or 42 cents to $24.56 after the electronic circuits and systems designer reported third quarter revenue fell 1% to $106.2 million from $107.0 million in the same quarter last year. Net loss in the quarter narrowed to $3.3 million or 15 cents per diluted share compared to $4.6 million or 20 cents share a year earlier.

The Jones Group Inc ((JNY)) decreased 3.1% or 29 cents to $8.80 after the apparel and accessories retailer cut its fourth quarter revenue outlook and said fourth quarter net revenue will be in the range of $892 to $895 million from previous guidance of $918 to $961 million. However, company has terminated all discussion regarding sale of Jones' Jeanswear division and intends to maintain its ownership of the division.

VOXX International Corporation ((VOXX)) (formerly Audiovox Corporation) soared 25.8% or $2.33 to $11.36 after the electronics and accessory distributor said third quarter net sales soared 26.7% to $206.8 million from $163.2 million in the same quarter last year. Net income in the quarter increased 23% to $8.9 million or 38 cents per diluted share compared to $3.9 million or 17 cents share a year ago period.

WD-40 Company ((WDFC)) decreased 2.6% or $1.09 to $33.99 after the consumer products maker said first quarter net sales increased 5% to $84.9 million from $80.9 million in the same quarter last year. Net income in the quarter declined 25% to $6.8 million or 42 cents per diluted share compared to $9.1 million or 53 cents share a year ago earlier.