U.S. Movers: Carnival Corp., Clarcor, Darden Restaurants, Ryder System

Mukesh Buch
22 Jun, 2012
New York City

Carnival Corp. second quarter net tumbled 93.2% to $14 million and Clarcor second quarter nearly flat to $32.9 million. Darden Restaurants fourth quarter net surged 10% and Ryder System lowered its second quarter and full year outlook.

[R]10:25 AM New York – Carnival Corp. second quarter net tumbled 93.2% to $14 million and Clarcor second quarter nearly flat to $32.9 million. Darden Restaurants fourth quarter net surged 10% and Ryder System lowered its second quarter and full year outlook.[/R]

American Software, Inc. ((AMSWA)) slumped 3.4% or 29 cents to $8.11 after the software company reported total revenues in the fourth quarter ending in April increased 11% to $27.9 million compared to $25.2 million in the same period last year. Net earnings in the quarter soared 26% to $3.48 million or 13 cents per diluted share compared to $2.75 million or 10 cents per share a year ago earlier.

Carnival Corporation ((CCL)) fell 28 cents to $34.30 after the cruise company reported total revenues in the second quarter ending in May slid 2.2% to $3.54 billion compared to $3.62 billion in the same period last year. Net income in the quarter tumbled 93.2% to $14 million or 2 cents per diluted share compared to $206 million or 26 cents per share a year ago.

Clarcor Inc. ((CLC)) rose 7 cents to $46.03 after the filtration products maker reported total revenues in the second quarter ending on June 2 fell 1% to $284.9 million compared to $288.5 million in the same period last year. Net income in the quarter nearly flat to $32.9 million or 65 cents per diluted share compared to $32.8 million or 64 cents per share a year ago period.

The company lowered its guidance for 2012 for earnings per share to be $2.50 to $2.65 from our previous guidance of $2.55 to $2.70.

Darden Restaurants, Inc. ((DRI)) decreased 1.7% or 99 cents to $49.50 after the restaurant company reported total revenues in the fourth quarter ending on May 27 rose 3.5% to $2.06 billion compared to $1.99 million in the same period last year. Net income in the quarter surged 10% to $151.2 million or $1.15 per diluted share compared to $137.4 million or 99 cents per share a year ago.

Darden expected earnings per share growth for fiscal 2013 to be between 8% and 12%.

Eagle Bulk Shipping Inc. ((EGLE)) declined 10.4% or 41 cents to $3.50 after the ocean transporter said it reached an agreement with its lenders led by Royal Bank of Scotland and will receive new liquidity facility of $20 million and also will get $1.13 billion as term loan maturing at the end of 2015.

Federal Signal Corporation ((FSS)) fell 1 cent to $5.62 after the safety and security products maker said it agreed to sell its Federal Signal Technologies, LLC business to 3M Company ((MMM)) valued $110 million in cash. The transaction is expected to be completed in the second half of this year.

Ryder System, Inc. ((R)) plunged 11.3% or $4.61 to $36.14 the transportation company lowered its second quarter comparable earnings forecast to 90 cents to 95 cents from $1.07 to $1.12 and full year profit forecasts to be between $3.65 and $3.85 from $4.02 to $4.12.

Sun Healthcare Group, Inc. ((SUNH)) rose 1 cent to $8.41 after the healthcare service provider said that Genesis HealthCare will acquired the company for $8.50 per share in cash resulting deal valued about $275 million and Board of Directors approved the transaction. The closing is expected to occur in fall.