U.S. Movers: Deere, KIT digital, Staples, Carlyle Group, Target

Mukesh Buch
15 Aug, 2012
New York City

Deere third quarter net jumped 11% and provides fiscal outlook. KIT digital said second quarter net loss widened to $151.1 million and Staples plunged 31.8%. Carlyle Group acquired Getty Images for $3.3 billion. Target said second quarter net flat.

[R]11:25 AM New York – Deere third quarter net jumped 11% and provides fiscal outlook. KIT digital said second quarter net loss widened to $151.1 million and Staples plunged 31.8%. Carlyle Group acquired Getty Images for $3.3 billion. Target said second quarter net flat.[/R]

Bob Evans Farms, Inc. ((BOBE)) increased 2.5% or 99 cents to $39.70 after the restaurant company reported net sales in the first quarter ending on July 27 increased 1.5% to $409.7 million compared to $405.4 million in the same period of last year. Net income in the quarter plunged 15.7% to $15 million or 53 cents per diluted share compared to $17.8 million or 59 cents per share a year ago period.

Deere & Company ((DE)) plummeted 7.3% or $5.93 to $74.17 after the agriculture equipment maker reported net sales in the third quarter of ending in July climbed 15% to $9.59 billion compared to $8.37 billion in the same period of last year. Net income in the quarter jumped 11% to $788 million or $1.98 per diluted share compared to $712.3 million or $1.69 per share a year ago.

Deere said equipment sales projected to increase about 13% for fiscal and for the fourth quarter and net income for the full year is anticipated to be approx $3.1 billion.

Jack Henry & Associates, Inc. ((JKHY)) gained 2.6% or 95 cents to $36.85 after the information technology provider reported revenues in the fourth quarter ending in June surged 7% to $266.6 million compared to $249.3 million in the same period of last year. Net income in the quarter soared 18% to $43.3 million or 50 cents per diluted share compared to $36.6 million or 42 cents per share a year ago.

KIT digital, Inc ((KITD)) slipped 2.5% or 8 cents to $2.92 after the software company reported revenues in the second quarter of ending in June advanced 13.5% to $51.1 million compared to $45 million in the same period of last year. Net loss in the quarter widened to $151.1 million or $2.94 per diluted share compared to $19.8 million or 49 cents per share a year ago period.

Myriad Genetics, Inc. ((MYGN)) rose 9 cents to $25.56 after the biotechnology reported revenues in the fourth quarter of ending in June jumped 24.3% to $133 million compared to $107 million in the same period of last year. Net income in the quarter climbed 11.5% to $29 million or 34 cents per diluted share compared to of $26 million or 30 cents per share a year ago period.

Staples, Inc. ((SPLS)) declined 14.2% or $1.92 to $11.54 after the office products supplier reported sales in the second quarter ending on July 27 dropped 5.5% to $5.50 billion compared to $5.82 billion in the same period of last year. Net income in the quarter plunged 31.8% to $120 million or 18 cents per diluted share compared to $176 million or 25 cents per share a year ago.

Staples expects full year sales to be flat compared to the prior year and full year diluted earnings per share to increase in the low single-digits from adjusted diluted earnings per share of $1.37 from a year ago.

The Carlyle Group L.P. ((CG)) slid 1.4% or 37 cents to $24.56 after the asset management company said its China focused fund has acquired 13.5% stake in Meinian Onehealth Healthcare Co., Ltd, the private preventive healthcare check-up services provider in China. However, financial terms were not disclosed.

The Carlyle Group, the private equity group agreed to acquire Getty Images, Inc., a global creator and distributor of still imagery, video and multimedia products, from Hellman & Friedman for $3.3 billion.

Target Corporation ((TGT)) increased 1.7% or $1.10 to $64.49 after the retailer company reported sales in the second quarter ending on July 28 increased 3.3% to $16.8 billion compared to $16.2 million in the same period of last year. For the quarter comparable same store sales increased 3.1%

Net earnings in the quarter flat to $704 million from a year ago. Diluted earnings per share in the quarter $1.06 per diluted share compared to $1.03 per share a year ago period.

For third quarter 2012, the company expects earnings per share of 69 cents to 79 cents and for the full year $4.20 to $4.40.