U.S. Movers: ABM Industries, Dollar General, Delta Air Lines, Ferrellgas

Mukesh Buch
11 Dec, 2012
New York City

ABM Industries fourth quarter net surged 54% and Dollar General third quarter net soared 22% to $208 million. Delta Air Lines agreed to buy 49% stake in Virgin Atlantic valued $360 million. Ferrellgas first quarter net loss narrowed.

[R]10:10 AM New York – ABM Industries fourth quarter net surged 54% and Dollar General third quarter net soared 22% to $208 million. Delta Air Lines agreed to buy 49% stake in Virgin Atlantic valued $360 million. Ferrellgas first quarter net loss narrowed.[/R]

ABM Industries Inc ((ABM)) gained 2.1% or 42 cents to $20.15 after the management service provider said net revenue in the fourth quarter ending in October 28 slid to $1.09 billion from $1.08 billion in the same period of last year. Net income in the quarter surged 54% to $27.7 million or 50 cents a diluted share compared to $18 million or 33 cents a share a year ago earlier.

The company anticipates providing guidance of first fiscal quarter when it reports results in March 2013.

Dollar General Corporation ((DG)) dropped 2.1% or 98 cents to $45.59 after the discount retailer reported total sales in the third quarter ending on November 2 advanced 10% to $3.96 billion from $3.60 billion in the same period of last year. Same store sales in the quarter climbed 4%.

Net income in the quarter soared 22% to $208 million or 62 cents a diluted share compared to $171 million or 50 cents a share a year ago.

Operating profit increased by 16% and gross profit as percentage of sales in the third quarter jumped 30.9%.

For the fourth quarter, the company expects comparable store sales to increase by 3% to 4% and total sales for the fiscal 2012 to increase by 8% to 8.5%. Same-store sales are now expected to increase 4.5% to 5%.

Delta Air Lines, Inc. ((DAL)) climbed 3.5% or 38 cents to $10.52 after the aviation company agreed to buy Virgin Atlantic acquiring a 49% stake currently held by Singapore Airlines, transaction valued $360 million and the joint venture is expected to be implemented by the end of 2013.

Ferrellgas Partners, L.P. ((FGP)) increased 1.7% or 30 cents to $17.99 after the oil and gas equipments distributor stated total revenues in the first quarter ending in October dropped 33% to $362.9 million from $538.4 million in the same period of last year. Net loss in the quarter narrowed to $17.5 million or 22 cents a diluted share compared to $32.3 million or 42 cents a share a year ago period.

The Ferrellgas said sales in the quarter of propane were reduced by 9% to 179.4 million gallons and total cost of product sold was declined 46% to $222.9 million from $409.7 million in the prior year period. .

Teavana Holdings, Inc ((TEA)) slid 2 cents to $15.44 after the tea related merchandise reported total sales in the third quarter ending on October 28 climbed 38% to $46 million from $33.4 million in the same period of last year. Comparable store sales in the quarter increased 0.4%.

Net loss in the quarter swung to $1.42 million or 4 cents a diluted share compared to net income of $0.94 million or 2 cents a share a year ago.

The tea retailer did not offer earnings guidance as the company is in negotiations with Starbucks.