U.S. Movers: Alcoa, Applied Materials, A. Schulman, Shaw Group

Mukesh Buch
10 Jul, 2012
New York City

Alcoa second quarter net swung to loss and Applied Materials lowered its annual outlook. Helen of Troy first quarter net slumped. Shaw Group third quarter loss narrowed. Wolverine second quarter net slid and reaffirms fiscal outlook.

[R]11:05 AM New York – Alcoa second quarter net swung to loss and Applied Materials lowered its annual outlook. Helen of Troy first quarter net slumped. Shaw Group third quarter loss narrowed. Wolverine second quarter net slid and reaffirms fiscal outlook.[/R]

Alcoa Inc. ((AA)) decreased 2.8% or 25 cents to $8.51 after the aluminum producer reported revenues in the second quarter ending in June fell 9% to $5.96 billion compared to $6.59 billion in the same period last year. Net loss in the quarter swung to $2 million or break even per diluted share compared to net income of $322 million or 28 cents per share a year ago.

Company reaffirms global aluminum demand to increase 7% in the current year and global supply is expected to lag the demand.

A. Schulman, Inc. ((SHLM)) soared 10.5% or $2.14 to $22.37 after the plastic compounds and resins supplier reported revenues in the third quarter ending in May slipped 7% to $569.1 million compared to $611.1 million in the same period last year. Net income in the quarter soared 13% to $17.0 million or 57 cents per diluted share compared to $18.8 million or 60 cents per share a year ago period.

Applied Materials, Inc. ((AMAT)) decreased 1.4% or 16 cents to $10.85 after the semiconductor maker revised its business outlook due to weaker than expected demand in semiconductor equipment business primarily among the foundry customers. Net sales for the fiscal year ending October 28 are expected to be below the previous outlook of $9.1 billion to $9.5 billion.

The company estimated industry wafer fab equipment spending to be the range of $30 billion to $33 billion from previous expectations of $32 to $35 billion.

Advanced Micro Devices, Inc. ((AMD)) declined 9.5% or 53 cents to $5.09 after the chipset maker said revenue for the second quarter ended in June expected to decrease 11% sequentially from previous forecast of the increase of 3% on softer-than-expected sales in China and Europe.

Helen of Troy Limited ((HELE)) slumped 10.3% or $3.60 to $30.43 after the Bermuda based health care and appliances maker said net sales in the first quarter ending in May grew 10% to $300.2 million compared to $271.5 million in the same period last year. Net income in the quarter slumped 7.8% to $23.5 million or 74 cents per diluted share compared to $24.6 million or 78 cents per share a year ago earlier.

The company expects net sales for fiscal year 2013 between $1.3 billion and $1.325 billion and earnings per share to be in the range of $3.70 to $3.80 from previous guidance of $3.80 to $3.90.

Regis Corporation ((RGS)) slipped 2.5% or 47 cents to $17.75 after the hair care retailer reported total revenues in the fourth quarter ending in June fell 3% to $568.1 million compared to $592.0 million in the same period last year. Fourth quarter total same store sales decreased 3%.

The Shaw Group Inc. ((SHAW)) slid 4.2% or $1.21 to $27.11 after the technology provider said sales in the third quarter ending in May increased 4.7% to $1.56 billion from $1.49 billion in the same period last year. Net loss in the quarter narrowed to $16 million or 24 cents per diluted share compared to $70 million or 89 cents per share a year ago earlier.

Wolverine World Wide, Inc. ((WWW)) gained 4.3% or $1.67 to $40.0 after the footwear and apparel maker reported revenues in the second quarter ending on June 16 rose 0.8% to $312.7 million from $310.1 million in the same period last year. Net earnings in the quarter slipped 15% to $20.5 million or 42 cents per diluted share compared to $24 million or 48 cents per share a year ago period.

The company reaffirms full year revenue guidance between $1.46 billion and $1.50 billion representing growth of 3.6% to 6.4% and maintained earnings outlook per share in a range of $2.70 to $2.80, a growth of 8.9% to 12.9%.

WD-40 Company ((WDFC)) decreased 4.4% or $2.25 to $48.17 after the consumer products provider reported revenues in the third quarter ending in May grew 2% to $87 million compared to $85.5 million in the same period last year. Net income in the quarter soared 13% to $9.14 million or 57 cents per diluted share compared to $8.06 million or 47 cents per share a year ago quarter.