U.S. Movers: Argan, CVS Caremark, Ciena, Pier 1 Imports

Mukesh Buch
13 Dec, 2012
New York City

Argan second quarter net soared nearly three-fold and CVS Caremark reaffirmed fiscal 2013 outlook. Ciena fourth quarter net loss widened to $39 million. Pier 1 Imports third quarter net advanced 4%.

[R]10:10 AM New York – Argan second quarter net soared nearly three-fold and CVS Caremark reaffirmed fiscal 2013 outlook. Ciena fourth quarter net loss widened to $39 million. Pier 1 Imports third quarter net advanced 4%.[/R]

Argan, Inc. ((AGX)) slid 2 cents to $19.13 after the construction services provider reported revenue in the second quarter ending in July increased surged 219% to $83 million from $26 million in the same period of last year. Net income in the quarter soared nearly three-fold to $6 million or 22 cents a diluted share compared to $2 million or 21 cents a share in the year-ago period.

CVS Caremark Corporation ((CVS)) climbed 3.7% or $1.78 to $49.32 after the retailer reaffirmed fiscal 2013 adjusted diluted earnings per share from continuing operations between $3.84 and $3.98 in 2013, an increase of 13% to 17% and GAAP diluted earnings per share from continuing operations between $3.59 and $3.73.

Ciena Corporation ((CIEN)) jumped 4.6% or 73 cents to $16.30 after the communications equipments maker stated revenue in the fourth quarter ending in October increased 2% to $466 million from $456 million in the same period of last year. Net loss in the quarter widened to $39 million or 39 cents diluted per share compared to $22 million or 33 cents a share a year ago period.

Hovnanian Enterprises, Inc. ((HOV)) dropped 3.8% or 21 cents to $5.28 after the construction services provider said total revenues in the fourth quarter ending in October increased 43% to $487 million from $342 million in the same period of last year. Net loss in the quarter narrowed to $84 million or 59 cents diluted per share compared to $98 million or 90 cents a share a year ago period.

Pier 1 Imports, Inc ((PIR)) increased 2.2% or 43 cents to $19.52 after the specialty retailer reported net sales in the third quarter ending on November 24 climbed 11% to $425 million from $383 million in the same period of last year. Comparable store sales jumped 7.9%.

Net income in the quarter advanced 4% to $24 million or 22 cents a diluted share compared to $23 million or 21 cents a share a year ago period.

Restoration Hardware Holdings, Inc. ((RH)) declined 3.5% or $1.29 to $35.40 after the holding company reported net revenue in the third quarter ending on October 27 jumped 22% to $284 million from $232 million in the same period of last year. Comparable store sales surged 29%.

Net income in the quarter swung to $1.7 million or 7 cents adjusted diluted earnings per share compared to net loss $4.8 million or 37 cents a share a year ago period.