U.S. Movers: Dillard's, Elan, FirstEnergy, Lowe

Mukesh Buch
25 Feb, 2013
New York City

Dillard''s fourth quarter net soared 14%. Elan Corp proposal of Royalty Management not lead to entire share capital of the company. FirstEnergy net swung to a $148 million loss and Lowe

[R]10:30 AM New York – Dillard''s fourth quarter net soared 14%. Elan Corp proposal of Royalty Management not lead to entire share capital of the company. FirstEnergy net swung to a $148 million loss and Lowe’s net soared 14% and Hertz Global net swung to a $36.4 million loss.[/R]

Dillard''s, Inc. ((DDS)) plunged 8.8% or $7.39 to $77.77 after the discount retailer said net sales in the fourth quarter ending in December climbed 7.1% to $2.11 billion from $1.97 billion in the same period of last year. Net income in the quarter soared 14% to $161.4 million or $3.36 a diluted share compared to $141.5 million or $2.77 a share a year ago earlier.

Total merchandise sales for the quarter increased 7% and sales in comparable stores increased 3%.

The retailer said gross margin from retail operations increased 40 basis points of sales to 34.6% and for the year gross margin gained 30 basis points to 36.1%.

Elan Corporation, plc soared 7.4% or 79 cents to $11.39 after the Ireland based biotechnology acknowledge that Royalty Management, LLC’s proposal of $6.5 billion.

FirstEnergy Corp. ((FE)) gained 39 cents to $40.93 after the holding company stated total revenues in the fourth quarter ending in December dropped 9.3% to $3.50 billion from $3.86 billion in the same period of last year. Net loss in the quarter swung to $148 million or 35 cents a diluted share compared to net income of $98 million or 23 cents a share a year ago period.

The company also reaffirms non-GAAP earnings per share for the fiscal year between $2.85 and $3.15.

Lowe’s Companies, Inc ((LOW)) slipped 15 cents to $37.52 after the home improvement retailer reported net sales in the fourth quarter ending on February 1 dropped 5% to $11.05 billion from $11.63 billion in the same period of last year. Comparable store sales for the quarter of 2012 rose 1.9% and comparable store sales for the U.S. business gained 1.5%.

Net earnings in the quarter soared 14% to $288 million or 26 cents a diluted share compared to $322 million or 26 cents a share a year ago.

The retailer said sales for the fiscal year grew 0.6% $50.5 billion from last fiscal year and net earnings were $2 billion.

Lowe’s expects total sales for the fiscal year to increase nearly 4% and comparable store sales to increase 3.5%. Diluted earnings per share for the year are about $2.05.

Donaldson Company, Inc. ((DCI)) dropped 2.6% or 95 cents to $35.50 after the automobile parts maker reported sales in the fourth quarter ending in January increased 3% to $596 million from $581 million in the same period of last year. Net earnings in the quarter plunged 6% to $51 million or 34 cents a diluted share compared to $54 million or 35 cents a share a year ago earlier.

The company expects full year operating margin to increase between 13.9% and 14.7% and earnings per share in the range of $1.61 to $1.81.

Hertz Global Holdings, Inc ((HTZ)) surged 8.2% or $1.55 to $20.28 after the holding company stated total revenues in the fourth quarter ending in December surged 15% to $2.32 billion from $2.01 billion in the same period of last year. Net loss in the quarter swung to $36.4 million or 9 cents a diluted share compared to $47.1 million or 11 cents a share a year ago period.

The Company forecasts revenues for the year in the range of $10.85 billion to $10.95 billion and adjusted net Income between $830 million and $875 million a increase of 39.5% to 47.1%. Adjusted diluted earnings per share are between of $1.82 - $1.92 growth of 37.4% to 44.9%.