U.S. Movers: Duke Energy, Dean Foods, FirstEnergy, Kohl

Mukesh Buch
08 Nov, 2012
New York City

Duke Energy third quarter net climbed 26% and lifted outlook. Dean Foods quarterly net swung to $36.4 million profit and FirstEnergy net jumped 20% but narrowed guidance. Kohl

[R]10:05 AM New York – Duke Energy third quarter net climbed 26% and lifted outlook. Dean Foods quarterly net swung to $36.4 million profit and FirstEnergy net jumped 20% but narrowed guidance. Kohl’s lifted outlook and quarterly net rose. Qualcomm third quarter net jumped 20%.[/R]

Advance Auto Parts, Inc. ((AAP)) gained 55 cents to $80.31 after the specialty retailer said net sales in the third quarter ending in September were nearly flat to $1.46 billion from the same period of last year. Comparable store sales in the quarter slipped 1.8%.

Net income in the quarter declined 15% to $89.5 million or $1.21 a diluted share compared to $105.6 million or $1.41 a share a year ago earlier.

The company anticipated fiscal 2012 earnings per share in the range $5.05 to $5.15 per share.

Duke Energy Corporation ((DUK)) increased 20 cents to $63.14 after the energy company reported total revenues in the third quarter ending in September surged 70% to $6.72 billion from $3.96 billion in the same period of last year. Net income in the quarter climbed 26% to $594 million or 85 cents a diluted share compared to $472 million or $1.06 a share a year ago.

The company expects to achieve fiscal adjusted diluted earnings per share in the range of $4.20 to $4.35.

Dean Foods Company ((DF)) climbed 5.7% or 92 cents to $17 after the food and beverage company said net sales in the third quarter ending in September slipped 6% to $3.14 billion from $3.41 billion in the same period of last year. Net income in the quarter swung to $36.4 million or 20 cents a diluted share compared to net loss of $1.54 billion or $8.39 a share a year ago period.

The company added net sales for the third quarter of WhiteWave-Alpro segment soared 13% to $598 million and operating income jumped 25% to $64 million from a year ago period.

Dean Foods lifted full year guidance for adjusted diluted earnings of between $1.27 and $1.32 per share and for the fourth quarter in the range of 27 cents to 32 cents.

FirstEnergy Corp. ((FE)) increased 1.1% or 51 cents to $42.82 after the electric utility provider stated total revenues in the third quarter ending in September slumped 9% to $4.31 billion from $4.72 billion in the same period of last year. Net income in the quarter jumped 20% to $425 million or $1.01 a diluted share compared to $532 million or $1.27 a share a year ago earlier.

The energy company narrowed 2012 non-GAAP earnings guidance to $3.30 to $3.40 per share from previous range of $3.30 to $3.60 per share.

Kohl’s Corporation ((KSS)) slipped 3.3% or $1.82 to $52.50 after the apparel and home products retailer said net sales in the third quarter ending in September grew 3% to $4.49 billion from $4.38 billion in the same period of last year. Comparable store sales in the quarter increased 1.1%.

Net income in the quarter gained 2% to $215 million or 91 cents a diluted share compared to $211 million or 80 cents a share a year ago.

The retailer lifted diluted earnings per share guidance for fiscal 2012 between $4.52 and $4.60 from previous guidance of $4.50 to $4.65 and for the fourth quarter in the range of $2 to $2.08.

PPL Corporation ((PPL)) gained 26 cents to $28.56 after the energy and utility holding company reported total revenues in the third quarter ending in September dropped 23% to $2.40 billion from $3.12 billion in the same period of last year. Net income in the quarter declined 20% to $355 million or 61 cents a diluted share compared to $444 million or 76 cents a share a year ago quarter.

“PPL is confident to increase the midpoint of earnings forecast “said William H. Spence, chairman, president and chief executive officer.

Qualcomm Inc. ((QCOM)) jumped 7.1% or $4.11 to $62.29 after the communications equipments maker stated total revenues in the third quarter ending in September climbed 18% to $4.87 billion from $4.12 billion in the same period of last year. Net income in the quarter jumped 20% to $1.27 billion or 73 cents a diluted share compared to $1.06 billion or 62 cents a share a year ago.

Qualcomm lifted revenues outlook for fiscal first quarter revenues between $5.6 billion and $6.1 billion an increase between 20% and 30% and diluted earnings in the range of 90 cents to 98 cents.

For the fiscal 2013, the company expects revenues in the range of $23 billion to $24 billion and diluted earnings between $3.40 and $3.60.

Universal Display Corporation ((PANL)) plunged 19.2% or $5.34 to $22.76 after the semiconductors maker said net sales in the third quarter ending in September declined 43% to $12.5 million from $21.8 million in the same period of last year. Net loss in the quarter swung to $5.5 million or 12 cents a diluted share compared to net income of $6 million or 12 cents a share a year ago period.

The company lowered revenues guidance and expects between $80 million and $82 million for fiscal 2012 from earlier expectations of $90 million to $110 million.