U.S. Movers: Dell, Express, Forest Laboratories, Lennar, Lululemon

Mukesh Buch
15 Jan, 2013
New York City

Dell jumped on the speculation that the company may go private. Express lifted outlook for the fourth quarter and full year 2012. Forest Laboratories third quarter net swung to $153.6 million loss. Lennar fourth quarter jumped more than three-fold and new order climbed 32%.

[R]10:00 AM New York – Dell jumped on the speculation that the company may go private. Express lifted outlook for the fourth quarter and full year 2012. Forest Laboratories third quarter net swung to $153.6 million loss. Lennar fourth quarter jumped more than three-fold and new order climbed 32%.[/R]

Commerce Bancshares, Inc. ((CBSH)) slipped 1.1% or 42 cents to $36.57 after the holding company said net interest income in the fourth quarter ending in December was nearly flat to $161.2 million from $161.8 million in the same period of last year. Net income in the quarter jumped 9% to $66.8 million or 72 cents per diluted share compared to $61.5 million or 66 cents a share a year ago earlier.

Dell Inc. ((DELL)) gained 2.2% or 28 cents to $12.58 on the media reports that the company is in talks to go private. The company spokesman refused to comment.

Express, Inc. ((EXPR)) increased 1.2% or 17 cents to $14.06 after the specialty retail apparel chain lifted outlook for the fourth quarter and full year 2012. For the fourth quarter, the company expects comparable sales to range from flat to up 1% and net income in the range of $61 million to $63 million or 72 cents to 74 cents a diluted share from the previous guidance of $53 million to $58 million or 62 cents to 68 cents per diluted share.

Forest Laboratories, Inc. ((FRX)) decreased 1.3% or 52 cents to $37.59 after the pharmaceutical company reported net revenues in the third quarter ending in December dropped 42% to $722.7 million from $1.21 billion in the same period of last year. Net loss in the quarter swung to $153.6 million or 58 cents per diluted share compared to net income of $278.4 million or $1.04 a share a year ago period.

The company lowered non-GAAP earnings per share for the fiscal 2013 and expects earnings at the lower end of the previously guided range of 45 cents to 60 cents and total net revenue between $3.1 billion and $3.2 billion.

Ironwood Pharmaceuticals, Inc. ((IRWD)) gained 14 cents to $14.60 after the pharmaceutical company stated net revenues in the fourth quarter ending in December declined 42% to $27 million from $32.2 million in the same period of last year. Net loss in the quarter widened to $43.86 million or 41 cents per diluted share compared to $6.97 million or 7 cents a share a year ago quarter.

Lennar Corporation ((LEN)) added 7 cents to $41.02 after the homebuilder reported net sales in the fourth quarter ending in November jumped 42% to $1.35 billion from $952.7 million in the same period of last year. Net income in the quarter surged more than three-fold to $124.3 million or 56 cents per diluted share compared to $30.3 million or 16 cents a share a year ago earlier.

The homebuilder said new orders climbed 32% to 3,983 homes and backlog soared 87% to 4,053 which represent surged 107 to $1.2 billion in dollar terms.

Lululemon Athletica Inc ((LULU)) declined 7.9% or $5.77 to $66.66 after the yoga inspired apparel retailer lifted fourth quarter net revenue guidance in the range of $475 million to $480 million based on comparable store sales percentage increase in the high single digits and diluted earnings per share at 74 cents for the quarter from previous guidance of 71 cents to 73 cents.

PPR SA, the France based luxury goods retailer agreed to acquires 51% stake in British luxury designer brand “Christopher Kane.”

Washington Federal, Inc. ((WAFD)) rose 7 cents to $17.16 after the saving and leasing bank stated net interest income in the third quarter ending in December slumped 8% to $95.4 million from $103.7 million in the same period of last year. Net earnings in the quarter increased 7% to $35.3 million or 33 cents per diluted share compared to $33.4 million or 31 cents a share a year ago period.