U.S. Movers: American Eagle, Bank of Montreal, Dell, Guess, Hormel Foods

Mukesh Buch
23 May, 2012
New York City

American Eagle first quarter net rose 6% and lifted outlook. Analog Devices second quarter net plunged 33% on weak revenue. Bank of Montreal second quarter net soared 27% to $1.03 billion. Dell first quarter net declined 33% to $635 million.

[R]11:25 AM New York – American Eagle first quarter net rose 6% and lifted outlook. Analog Devices second quarter net plunged 33% on weak revenue. Bank of Montreal second quarter net soared 27% to $1.03 billion. Dell first quarter net declined 33% to $635 million.[/R]

American Eagle Outfitters, Inc. ((AEO)) rose 1 cent to $19.80 after the specialty retailer reported first quarter ended April 28 total sales increased 18% to $719 million compared to $610 million in the same period last year. Comparable store sales increased 17% from decrease of 7% last year.

Net income in the quarter increased 5.5% to $39.7 million or 20 cents per diluted share compared to $28.3 million or 14 cents per share a year ago period.

The company expects annual adjusted earnings of $1.16 to $1.22 compared to 97 cents of last year and for second quarter adjusted earnings of 13 cents to 15 cents.

Analog Devices, Inc. ((ADI)) decreased 2.4% or 88 cents to $34.92 after the electrical signals maker reported second quarter ended May 5 revenue decreased 15% to $675.1 million compared to $790.8 million in the same period last year. Net income in the quarter plunged 33% to $162.9 million or 53 cents per diluted share compared to $241.8 million or 78 cents per share a year ago earlier.

Revenue estimated to increase about 1% to 4% sequentially and earnings estimated to 54 cents to 58 cents.

Bank of Montreal ((BMO)) slipped 1.1% or 60 cents to $53.50 after the Canada based bank reported second quarter ended April total revenue surged 19% to $3.96 billion compared to $3.33 billion in the same period last year. Net income in the quarter soared 27% to $1.03 billion or $1.51 per diluted share compared to $813 million or $1.32 per share a year ago.

Big Lots, Inc. ((BIG)) rose 19 cents to $34.98 after the specialty retailer reported first quarter ended April 28 total sales grew 5% to $1.29 billion compared to $1.23 billion in the same period last year. Comparable store sales for U.S. fell 0.8% from decrease of 7% last year.

Net income in the quarter rose 3.1% to $40.7 million or 63 cents per diluted share compared to $52.5 million or 70 cents per share a year ago period.

Dell Inc. ((DELL)) plunged 16.9% or $2.55 to $12.53 after the information technology company reported first quarter ended May 4 revenue fell 4% to $14.4 billion compared to $15.02 billion in the same period last year. Net income in the quarter declined 33% to $635 million or 36 cents per diluted share compared to $945 million or 49 cents per share a year ago.

The company expects second quarter revenue to be 2% to 4% compared to first quarter.

Eaton Vance Corp. ((EV)) slumped 2.4% or 60 cents to $23.60 after the investment company reported second quarter ended April total revenue fell 3% to $304.8 million compared to $315.6 million in the same period last year. Net income in the quarter slumped 15% to $52.9 million or 44 cents per diluted share compared to $62.5 million or 50 cents per share a year ago period.

Guess?, Inc. ((GES)) soared 5.7% or $1.41 to $25.85 after the apparel and accessory retailer reported first quarter ended April 28 net revenue fell 2.2% to $579.3 million compared to $592.2 million in the same period last year. Comparable store sales increased 7.4%.

Net income in the quarter plunged 37.6% to $26.6 million or 30 cents per diluted share compared to $42.7 million or 46 cents per share a year ago quarter.

For the fiscal year end February 2, 2013, net revenues are expected to range between $2.70 billion and $2.74 billion and earnings per share expected to be in the range of $2.50 to $2.65. For the second quarter company expected net revenues to range from $625 million to $635 million.

Hormel Foods Corporation ((HRL)) rose 11 cents to $29.30 after the food products maker reported second quarter ended April 29 total sales rose 2.7% to $2.01 billion compared to $1.96 billion in the same period last year. Net earnings in the quarter soared 17% to $127.9 million or 48 cents per diluted share compared to $109.6 million or 40 cents per share a year ago earlier.

Hormel expect to maintain full-year earnings guidance range between $1.79 and $1.89 per share.

Lenovo Group Limited, the Hong Kong based personal computer maker reported fourth quarter ended March sales soared 54% to $7.50 billion compared to $4.88 billion in the same period last year. Net profit in the quarter surged 59% to $67 million or 63 cents per diluted share compared to $42 million or 42 cents per share a year ago.

Sales for the fiscal 2012 surged 37% to $29.6 billion from $21.6 billion a year ago. Net profit for the year soared 73% to $475 million or $4.57 per diluted share from $273 million or $2.73 per share in the prior year.

PetSmart, Inc. ((PETM)) surged 10.7% or $5.98 to $61.60 after the specialty retailer reported first quarter ended April 29 total sales grew 9.4% to $1.63 billion compared to $1.49 billion in the same period last year. Comparable store sales increased 7.4%.

Net income in the quarter increased 5.8% to $94.7 million or 85 cents per diluted share compared to $70.9 million or 61 cents per share a year ago period.

The retailer anticipates comparable store sales growth in the range of mid-single digit and total sales to grow 9% to 10% and lifted earnings guidance to $3.19 to $3.31.

Toll Brothers, Inc. ((TOL)) rose 8 cents to $27.11 after the residential construction company reported second quarter ended April revenue grew 17% to $373.7 million compared to $319.7 million in the same period last year. Net income in the quarter swung to $16.9 million or 10 cents per diluted share compared to net loss of $20.8 million or 12 cents per share a year ago earlier.