U.S. Movers: Chesapeake, Dana, Fluor, Quanta, Wal-Mart

Mukesh Buch
21 Feb, 2013
New York City

Chesapeake fourth quarter net declined 40% and Dana Holding net climbed 27%. Fluor Corp net swung to a loss and Quanta Services net surged 49%. Tesla Motors net loss widened and Wal-Mart net jumped 9% to $5.61 billion.

[R]10:05 AM New York – Chesapeake fourth quarter net declined 40% and Dana Holding net climbed 27%. Fluor Corp net swung to a loss and Quanta Services net surged 49%. Tesla Motors net loss widened and Wal-Mart net jumped 9% to $5.61 billion.[/R]

Chesapeake Energy Corporation ((CHK)) rose 11 cents to $20.35 after the oil and gas explorer said total revenues in the fourth quarter ending in December surged 30% to $3.54 billion from $2.73 billion in the same period of last year. Net income in the quarter declined 40% to $257 million or 39 cents a diluted share compared to $429 million or 78 cents a share a year ago earlier.

Dana Holding Corporation ((DAN)) gained 14 cents to $16.77 after the automobile parts supplier reported net sales in the first quarter ending in December dropped 15% to $1.61 billion from $1.90 billion in the same period of last year. Net income in the quarter climbed 27% to $80 million or 41 cents a diluted share compared to $63 million or 33 cents a share a year ago period.

Dana expects full year sales of nearly $7.1 billion and diluted adjusted EPS of $1.88 to $1.95 and adjusted EBITDA for the year in the range of $800 million to $820 million.

Eaton Vance Corp. ((EV)) slipped 1.5% or 61 cents to $38.03 after the investment company said revenues in the first quarter ending in January climbed 8% to $318.5 million from $295.6 million in the same period of last year. Net earnings in the quarter slipped 6% to $49.8 million or 38 cents a diluted share compared to $53.1 million or 45 cents a share a year ago earlier.

Fluor Corporation ((FLR)) decreased 1.7% or $1.13 to $63.21 after the holding company stated revenue in the fourth quarter ending in December declined 12% to $7.02 billion from $6.25 billion in the same period of last year. Net loss in the quarter swung to $4.4 million or 3 cents a diluted share compared to net earnings of $153.1 million or 90 cents a share a year ago period.

Oil & gas unit segment profit for the year climbed 21% to $335 million but industrial & infrastructure segment profit declined 68% to $124 million from $389 million in 2011. Global services segment profit soared 17% to $178 million.

The company reaffirmed its earnings per diluted share guidance for 2013 in the range of $3.85 to $4.35.

Hormel Foods Corporation ((HRL)) advanced 2% or 78 cents to $36.90 after the food processing company reported net sales in the first quarter ending on January 27 grew 4% to $2.12 billion from $2.04 billion in the same period of last year. Net earnings in the quarter rose 1% to $129.7 million or 48 cents a diluted share compared to $128.4 million or 48 cents a share a year ago.

“We are raising full year guidance to $1.93 to $2.03 per share from $1.90 to $2 per share,” said by Jeffrey Ettinger, chairman and chief executive officer.

Quanta Services, Inc. ((PWR)) rose 14 cents to $28.28 after the infrastructure service provider said revenue in the fourth quarter ending in December soared 20% to $1.67 billion from $1.39 billion in the same period of last year. Net income in the quarter surged 49% to $99 million or 46 cents a diluted share compared to $66.3 million or 32 cents a share a year ago period.

The company expects revenues for the first quarter in the range of $1.3 billion to $1.4 billion and diluted earnings per share from continuing operations between 28 cents and 30 cents.

Quanta expect revenues for the full year to range between $5.7 billion and $6.2 billion and diluted earnings per share from continuing operations between $1.10 and $1.40.

Synopsys, Inc. ((SNPS)) climbed 3.1% or $1.10 to $35.90 after the automation solution provider said revenues in the first quarter ending in January jumped 12% to $475.1 million from $425.5 million in the same period of last year. Net earnings in the quarter surged 23% to $69.9 million or 45 cents a diluted share compared to $56.7 million or 39 cents a share a year ago earlier.

Synopsys expects revenue for the second quarter in the range of $490 million - $500 million and earnings per share between of 38 cents and 44 cents.

For the year, the company expects revenues between $1.955 billion and $1.975 billion and earnings per share in the range of $1.44 to $1.56.

Tesla Motors, Inc. ((TSLA)) plunged 9.1% or $3.53 to $35.03 after the electric vehicles maker stated total revenues in the fourth quarter ending in December surged nearly seven-fold to $306.3 million from $39.4 million in the same period of last year. Net loss in the quarter widened to $89.9 million or 79 cents a diluted share compared to $81.5 million or 78 cents a share a year ago earlier.

Tesla reported gross profit for the quarter swung to $23.9 million compared to loss of $8.76 million a year ago earlier.

The company expects to deliver about 20,000 model S units in 2013 and in the first quarter deliveries of about 4,500 units.

Wal-Mart Stores, Inc ((WMT)) jumped 2.3% or $1.60 to $70.81 after the largest retailer reported revenues in the fourth quarter ending in January advanced 4% to $127.1 billion from $122.3 billion in the same period of last year. Net income in the quarter jumped 9% to $5.61 billion or $1.67 a diluted share compared to $5.16 billion or $1.50 a share a year ago.

For the year and Sam''s Club sales rose 3.4% to $14.5 billion.

The company reported U.S. comparable store sales excluding fuel increased 1.2% in the quarter and in the year rose 1.8%.

“We expect first quarter fiscal 2014 earnings per share to range between $1.11 and $1.16,"""" said Charles Holley chief financial officer and added “for fiscal 2014, we expect earnings per share in the range of $5.20 to $5.40”.