U.S. Movers: Chevron, Infosys, Shaw Communications, Williams-Sonoma

Mukesh Buch
12 Jan, 2012
New York City

Chevron expects fourth-quarter earnings significantly below earlier expectations. Infosys third quarter net soared 15.4% to $458 million. Shaw Communications first quarter net surged to $202 million. Williams-Sonoma said revenues increased 4.2% to $901 million in the holiday period.

[R]11:05 AM New York – Chevron expects fourth-quarter earnings significantly below. Infosys third quarter net soared 15.4% to $458 million. Shaw Communications first quarter net surged to $202 million. Williams-Sonoma said revenues increased 4.2% to $901 million in the holiday period.[/R]

Chevron Corporation ((CVX)) decreased 2.5% or $2.72 to $105.05 after the energy explorer said earnings for the fourth quarter 2011 are expected to significantly below third quarter 2011 results. Downstream earnings in fourth quarter are expected to near breakeven.

Infosys Limited ((INFY)) slipped 8.6% or $4.93 to $51.94 after the India based technology services provider reported third quarter revenues increased 13.9% to $1.81 billion from $1.58 billion in the same quarter last year. Net income in the quarter soared 15.4% to $458 million or 80 cents per diluted share compared to $397 million or 69 cents share a year ago.

Premier Exhibitions, Inc. ((PRXI)) fell 1 cent to $2.36 after the touring exhibition operator reported third quarter total revenues decreased to $6.2 billion from $10.2 billion in the same quarter last year. Net loss in the quarter narrowed to $2.2 million or 5 cents per diluted share compared to $5.7 million or 12 cents share a year period.

Richardson Electronics, Ltd. ((RELL)) fell 1 cent to $12.05 after the engineering solution provider said second quarter total net sales decreased 4.5% to $39.1 million from $41.0 million in the same quarter last year. Net income in the quarter declined to $0.8 million or 4 cents per diluted share compared to $7.5 million or 41 cents share a year earlier.

Shaw Communications Inc. ((SJR)) fell 1.8% or 37 cents to $19.75 after the Canadian communications company reported first quarter revenues increased 19% to $1.3 billion from $1.1 billion in the same quarter last year. Net income in the quarter surged to $202 million or 43 cents per diluted share compared to $17 million or 3 cents share a year ago.

Williams-Sonoma, Inc. ((WSM)) slipped 12.5% or $4.89 to $34.19 after the specialty retailer said net revenues increased 4.2% to $901 million in the holiday period ended December 25 but cut its fourth quarter earnings forecast to $1.10 to $1.15 from previous guidance range of $1.15 to $1.20 due to promotional environment during the holiday season.