U.S. Movers: Chevron, Fastenal, Infosys, Marriott International, Supervalu

Mukesh Buch
12 Jul, 2012
New York City

Chevron lifted second quarter earnings outlook. Fastenal second quarter increased 19.3% to $112.3 million. Infosys first quarter net rose 8.3% to $416 million. Marriott International second quarter net grew 6% to $143 million.

[R]11:15 AM New York – Chevron lifted second quarter earnings outlook. Fastenal second quarter increased 19.3% to $112.3 million. Infosys first quarter net rose 8.3% to $416 million. Marriott International second quarter net grew 6% to $143 million. [/R]

API Technologies Corp. ((ATNY)) decreased 4.1% or 14 cents to $3.24 after the communications products maker reported revenue in the second quarter ending in May surged 174% to $78.9 million compared to $28.7 million in the same period last year. Net loss in the quarter widened to $109.5 million or $1.98 per diluted share compared to $14.7 million or 32 cents per share a year ago quarter.

Chevron Corporation ((CVX)) gained 95 cents to $105.80 after the energy corporation estimates second quarter earnings to be higher than the first quarter. Upstream results are projected to be lower due to lower average crude oil prices and downstream earnings are expected to be significantly higher, reflecting improved refining margins and gains on asset sales.

Commerce Bancshares, Inc. ((CBSH)) increased 1.4% or 54 cents to $39.06 after the regional bank reported net interest income in the second quarter ending in June increased 7% to $165.1 million compared to $164.7 million in the same period last year. Net earnings in the quarter increased 7.7% to $74.3 million or 84 cents per diluted share compared to $69.0 million or 75 cents per share a year ago period.

Fastenal Company ((FAST)) gained 3.4% or $1.38 to $41.19 after the construction material supplier reported net sales in the second quarter ending in June increased 15% to $804.9 million compared to $701.7 million in the same period last year. Net earnings in the quarter advanced 19.3% to $112.3 million or 38 cents per diluted share compared to $94.1 million or 32 cents per share a same quarter last year.

Infosys Ltd ((INFY)) dropped 10.5% or $4.60 to $39.02 after the India-based software exporter said first quarter revenues climbed 5% to $1.75 billion from a year-ago quarter. Net profit for the quarter advanced 8.3% to $416 million from $384 million last year. Earnings per ADS grew to $0.73 from $0.67 last year.

Marriott International, Inc. ((MAR)) slumped 4.2% or $1.61 to $36.40 after the hotel operator said second quarter total revenue fell 6.6% to $2.78 billion from the same quarter last year. Net income for the quarter rose 6% to $143 million or 42 cents per diluted share compared to $135 million or 37 cents per share for the year-ago quarter.

MEDTOX Scientific, Inc. ((MTOX)) fell 2 cents to $26.90 after the health care company reported total revenues in the second quarter ending in June increased 11.3% to $30 million compared to $27 million in the same period last year. Net income in the quarter decreased 11.7% to $1.24 million or 14 cents per diluted share compared to $1.40 million or 16 cents per share a year ago.

Supervalu Inc. ((SVU)) plunged 44.9% or $2.38 to $2.91 after the grocery retailer reported net sales in the first quarter ending on June 16 slipped 5% to $10.6 billion compared to $11.1 billion in the same period last year. Net income in the quarter declined 45% to $41 million or 19 cents per diluted share compared to $74 million or 35 cents per share a year ago earlier.

SAP AG ((SAP)) increased 1.5% or 87 cents to $57.56 after the German business software developer stated second quarter revenue increased 18% to €3.90 billion. Based on IFRS reporting operating profit gained 7% to €0.92 billion compared to €0.86 billion in 2011.

Texas Industries, Inc. ((TXI)) advanced 5.9% or $2.25 to $40.30 after the heavy construction materials supplier reported fourth quarter revenues edged modestly lower to $174.6 million compared to $175.8 million in the prior year. Net income swung to $60 million or $2.15 per diluted share compared to net loss of $9.1 million or 33 cents per share last year.

The Progressive Corporation ((PGR)) slumped 4.3% or 90 cents to $19.66 after the insurance holding company reported net premiums written in the second quarter ending in June increased 7% to $1.24 billion compared to $1.16 billion in the same period last year. Net income in the quarter plunged 75% to $13.5 million or 2 cents per diluted share compared to $53.1 million or 8 cents per share a year ago period.

Trinity Biotech plc ((TRIB)) rose 8 cents to $12.18 after the Ireland based biotechnology company reported total revenues in the second quarter ending in June increased 7% to $20.8 million compared to $19.5 million in the same period last year. Net earnings in the quarter rose 11% to $4.30 million or 19 cents per diluted share compared to $3.86 million or 17 cents per share a year ago period.

Washington Federal, Inc. ((WAFD)) dropped 6.8% or $1.15 to $15.38 after the holding company reported interest income in the third quarter ending in June dropped 10% to $145.4 million compared to $161.5 million in the same period last year. Net income in the quarter advanced 16.7% to $35.2 million or 33 cents per diluted share compared to $30.1 million or 27 cents per share a year ago earlier.