U.S. Movers: Lululemon, J. M. Smucker, Navistar, Pall Corp., Titan Machinery

Mukesh Buch
07 Jun, 2012
New York City

American Greetings acquire UK based Clinton Cards. Lululemon dropped after the retailer offered weaker outlook. Molina Healthcare withdrew current year earnings guidance. J. M. Smucker fourth quarter net increased 9.7% to $104 million.

[R]11:30 AM New York – American Greetings acquire UK based Clinton Cards. Lululemon dropped after the retailer offered weaker outlook. Molina Healthcare withdrew current year earnings guidance. J. M. Smucker fourth quarter net increased 9.7% to $104 million.[/R]

American Greetings Corporation ((AM)) fell 2 cents to $14.48 after the seasonal cards maker acquired assets of UK based Clinton Cards PLC and its debt for $56 million. The acquisition includes approx 400 stores and will save 4,500 UK jobs. American Greetings is one of the biggest suppliers to the retailer.

Amerco ((UHAL)) gained 3.4% or $3.07 to $91.30 after the holding company reported total revenue in the fourth quarter ending in March increased 7.2% to $523 million compared to $488 million in the same period last year. Net earnings in the quarter soared 149% to $25.4 million or $1.29 per diluted share compared to $10.2 million or 52 cents per share a year ago quarter.

Lululemon Athletica inc. ((LULU)) dropped 8.8% or $6.21 to $63.81 after the athletic apparel retailer reported net revenue in the first quarter ending on April 29 increased 52% to $285.7 million compared to $186.8 million in the same period last year. Comparable stores sales increased to 25% for the first quarter.

Net income in the quarter soared 30.5% to $43.6 million or 32 cents per diluted share compared to $33.4 million or 23 cents per share a year ago quarter.

Molina Healthcare, Inc. ((MOH)) tumbled 29.3% or $7.55 to $18.21 after the health care solution provider cited an uncertainty surrounding medical costs in Texas and withdrew its current year earnings guidance.

Navistar International Corporation ((NAV)) plunged 24.5% or $6.91 to $21.24 after the holding company reported total net sales in the second quarter ending on April 28 edged down to $3.30 billion compared to $3.35 billion in the same period last year. Net loss in the quarter swung to $172 million or $2.50 per diluted share compared to net income of $74 million or 93 cents per share a year ago earlier.

Navistar updated guidance for adjusted profit for fiscal year ended October 31 between $600 million and $750 million.

Pall Corporation ((PLL)) slipped 4.8% or $2.62 to $52.01 after the purification technology provider reported total sales in the third quarter ending in April inched up 0.6% to $658 million compared to $654 million in the same period last year. Net income in the quarter increased 11% to $78.9 million or 67 cents per diluted share compared to $71.1 million or 60 cents per share a year ago period.

The J. M. Smucker Company ((SJM)) increased 1.1% or 87 cents to $76.92 after the food products maker reported total net sales in the fourth quarter ending in April surged 14.3% to $1.36 billion compared to $1.19 billion in the same period last year. Net income in the quarter soared 9.7% to $104.1 million or 93 cents per diluted share compared to $94.9 million or 82 cents per share a year ago earlier.

Titan Machinery Inc. ((TITN)) plunged 20% or $6.68 to $26.63 after the agricultural and construction equipments retailer reported total revenue in the first quarter ending in April soared 33% to $421.7 million compared to $318.2 million in the same period last year. Net income in the quarter rose 4.2% to $7.5 million or 36 cents per diluted share compared to $7.2 million or 40 cents per share a year ago period.

Company reiterates fiscal 2013 revenue and earnings guidance. Revenues are anticipated between $1.95 billion and $2.1 billion and net income between $53.8 million and $58 million and earnings per share are estimate to be in the range of $2.55 to $2.75.

The Men’s Wearhouse, Inc. ((MW)) sank 17.2% or $6.12 to $29.45 after the specialty retailer reported total net sales in the first quarter ending on April 28 increased 1.1% to $586.6 million compared to $580.3 million in the same period last year. Net income in the quarter decreased 1.82% to $26.9 million or 52 cents per diluted share compared to $27.4 million or 52 cents per share a year ago earlier.

For the fiscal year of 53 weeks the company expects earnings per share to increase 13% to 17% from the previous year to in a range of $2.70 to $2.78.

UTi Worldwide Inc., (UTIW)) rose 4 cents to $15.15 after the holding company reported revenue in the first quarter ending in April decreased 4.2% to $1.15 billion compared to $1.20 billion in the same period last year. Net earnings in the quarter surged 48.3% to $12.9 million or 12 cents per diluted share compared to $8.7 million or 8 cents per share a year ago quarter.