U.S. Movers: Costco, FedEx, International Speedway, Limited Brands

Mukesh Buch
05 Jul, 2012
New York City

Costco June same store sales rose 3% and Limited Brands increased of 7%. FedEx completes the acquisition of TATEX a French express transportation company. Volkswagen agreed to buy remaining half of sports car maker Porsche.

[R]10:45 AM New York – Costco June same store sales rose 3% and Limited Brands increased of 7%. FedEx completes the acquisition of TATEX a French express transportation company. Volkswagen agreed to buy remaining half of sports car maker Porsche.[/R]

Ambow Education Holding Ltd. ((AMBO)) declined 9.4% or 44 cents to $4.20 after the China’s educational services provider revenues in the first quarter ending in March surged 22% to $59.5 million compared to $48.8 million in the same period last year. Net loss in the quarter swung to $12.7 million or 17 cents per diluted share compared to net income of $2.0 million or 3 cents per share a year ago earlier.

Costco Wholesale Corp ((COST)) fell 40 cents to $94.02 after the warehouse retailer reported June same-store sales rose 3% and total sales increased 6% to $9.18 billion from $8.69 billion in the year ago month.

FedEx Corporation ((FDX)) slid 1% or 96 cents to $91.64 after the holding company said it has completed the acquisition of TATEX a French express transportation company to sustainable growth in Europe. The company also completed the acquisition of Rapidão Cometa, the transportation and logistics companies in Brazil with revenues of more than $500 million in 2011.

Hudson Technologies, Inc. ((HDSN)) gained 1.1% or 5 cents to $4.12 after the refrigerant services company offers 1.17 million shares at price of $2.60 per share.

International Speedway Corporation ((ISCA)) increased 5.3% or $1.41 to $27.66 after the motor sports promoter reported revenues in the second quarter ending in May soared 29% to $179.6 million compared to $138.8 million in the same period last year. Net income in the quarter surged 15% to $13.7 million or 30 cents per diluted share compared to $11.9 million or 25 cents per share a year ago.

The company reiterates fiscal total revenue guidance in the range of $610 million to $630 million and maintained non-GAAP earnings between $1.50 and $1.60 per share.

Limited Brands, Inc. ((LTD)) increased 5.3% or $2.34 to $46.48 after the specialty retail reported comparable store sales for the five weeks ended June 30 increased of 7% and net sales nearly flat to $1.08 billion compared to last year.

Volkswagen AG, the Germany based automotive company said it has agreed to buy the remaining half of sports car maker Porsche Automobil Holding SE and expected to take effect from this August 1.