U.S. Movers: Accenture, NIKE, Darden Restaurants, KB Home, Steelcase

Mukesh Buch
23 Mar, 2012
New York City

Accenture quarterly net increased 9.5% and lifted revenue outlook. Nike quarterly net rose 7% to $560 million and orders increased 15% to $9.4 billion. Darden Restaurants third quarter net rose to $164.1 million and reaffirmed fiscal 2012 guidance. KB Home first quarter net loss narrowed to $45.8mn.

[R]11:25 AM New York – Accenture quarterly net increased 9.5% and lifted revenue outlook. Nike quarterly net rose 7% to $560 million and orders increased 15% to $9.4 billion. Darden Restaurants third quarter net rose to $164.1 million and reaffirmed fiscal 2012 guidance. KB Home first quarter net loss narrowed to $45.8 million.[/R]

Accenture plc ((ACN)) rose 51 cents to $64.03 after the Ireland based business services provider reported second quarter revenue increased 12% to $7.3 billion from $6.5 billion in the same quarter last year. Net income in the quarter increased 9.5% to $643.9 million or 97 cents per diluted share compared to $503.0 million or 75 cents per share in the year ago earlier.

New bookings for the quarter were $7.94 billion.

Darden Restaurants, Inc. ((DRI)) decreased 2.1% or $1.12 to $50.71 after the restaurant operator reported third quarter revenues increased 9.3% to $2.16 billion from $1.98 billion in the same quarter last year. Same restaurant sales grow 5.8%. Net earnings in the quarter increased 7% to $164.1 million or $1.25 per diluted share compared to $151.2 million or $1.08 per share in the year ago period.

Darden’s Olive Garden chain of restaurants generated $957 million, almost half of company’s revenue.

KB Home ((KBH)) declined 9.4% or $1.06 to $10.18 after the homebuilder reported first quarter revenues soared 29% to $254.6 million from $196.9 million in the same quarter last year. Net loss in the quarter narrowed to $45.8 million or 59 cents per diluted share compared to $114.5 million or $1.49 per share in the year ago quarter.

Micron Technology, Inc. ((MU)) decreased 4% or 36 cents to $8.35 after the computer memory maker reported second quarter revenue decreased to $2.07 billion from $2.26 billion in the same quarter last year. Net loss in the quarter swung to $224 million or 23 cents per diluted share compared to net income of $72 million or 7 cents per share in the year ago earlier.

Nike, Inc. ((NKE)) slipped 3.3% or $3.68 to $107.31 after the footwear and apparel maker reported third quarter revenues increased 15% to $5.85 billion from $5.08 billion in the same quarter last year. Net income in the quarter increased 7% to $560 million or $1.20 per diluted share compared to $523 million or $1.10 per share in the year ago.

Future orders for delivery from March through July increased 15% to $9.4 billion from a year ago period.

Steelcase Inc. ((SCS)) decreased 2.5% or 24 cents to $9.05 after the furniture’s maker reported fourth quarter revenue rose 10.8% to $690.2 million from $622.9 million in the same quarter last year. Net income in the quarter increased to $14.9 million or 11 cents per diluted share compared to $10.4 million or 8 cents per share in the year ago quarter.

For the year 2011 revenue increased to $2.75 billion from $2.44 billion in last year. Net income for the year surged to $56.7 million or 43 cents per diluted share compared to $20.4 million or 15 cents per share in the prior year.

Zynga Inc. ((ZNGA)) slumped 5.2% or 72 to $13.04 after the social game developer’s CEO Mark Pincus offered to sell about 43 million shares of common stock that is valued at $228 million.