U.S. Movers: Ciena, PetSmart, Staples, Time Warner, Vail Resorts

Mukesh Buch
07 Mar, 2013
New York City

Ciena first quarter net loss narrowed. Nexstar fourth quarter net surged to $161 million and PetSmart net jumped 6.2% to $134 million. Staples net jumped 72%. Time Warner plans to spinning off its magazine unit Time Inc. Vail Resorts net climbed 30%.

[R]10:00 AM New York – Ciena first quarter net loss narrowed. Nexstar fourth quarter net surged to $161 million and PetSmart net jumped 6.2% to $134 million. Staples net jumped 72%. Time Warner plans to spinning off its magazine unit Time Inc. Vail Resorts net climbed 30%.[/R]

Ciena Corporation ((CIEN)) surged 12.9% or $1.93 to $16.85 after the communications networking equipment maker reported total revenues in the first quarter ending in January climbed 8.7% to $453.1 million from $416.7 million in the same period of last year. Net loss in the quarter narrowed to $47.3 million or 47 cents a diluted share compared to $47.7 million or 49 cents a share a year ago earlier.

Nexstar Broadcasting, Inc. ((NXST)) rose 5 cents to $16.24 after the broadcasting and media stated total revenue in the fourth quarter ending in December jumped 35% to $116.2 million from $86.2 million in the same period of last year. Net income in the quarter surged to $161.1 million or $5.16 a diluted share compared to $3.3 million or 11 cents a share a year ago period.

PetSmart, Inc. ((PETM)) dropped 6.6% or $4.45 to $62.13 after the specialty retailer reported net revenue in the fourth quarter ending on February 3 surged 15% to $1.88 billion from $1.64 billion in the same period of last year. Net income in the quarter jumped 6.2% to $134 million or $1.24 a diluted share compared to $102 million or 91 cents a share a year ago.

Smithfield Foods, Inc. ((SFD)) climbed 7.9% or $1.78 to $24.08 after the food processing company reported total revenues in the third quarter ending on January 27 grew 3% to $3.58 billion from $3.48 billion in the same period of last year. Net income in the quarter rose 3% to $81.5 million or 58 cents a diluted share compared to $79 million or 49 cents a share a year ago earlier.

Staples, Inc. ((SPLS)) slid 1 cent to $12.33 after the office product supplier reported sales in the fourth quarter ending on February 2 increased 3% to $6.57 billion from $6.37 billion in the same period of last year. Net income in the quarter jumped 72% to $78.1 million or 12 cents a diluted share compared to $283.6 million or 41 cents a share a year ago.

VimpelCom Ltd. ((VIP)) gained 12 cents to $12.62 after the Russia focused wireless carrier stated total revenue in the fourth quarter ending in December increased 1% to $5.95 billion from $5.89 billion in the same period of last year. Net income in the quarter swung to $569 million or 49 cent a diluted share compared to net loss of $660 million or 24 cents a share a year ago period.

Semtech Corporation ((SMTC)) climbed 7.4% or $2.28 to $33 after the chip maker said total revenue in the fourth quarter ending on January 27 climbed 45% to $150.6 million from $104.0 million in the same period of last year. Net income in the quarter plunged 21% to $13.1 million or 19 cent a diluted share compared to $16.6 million or 25 cents a share a year ago earlier.

Time Warner Inc. ((TWX)) gained 1.6% or 92 cents to $56.38 after the media and entertainment company plans to spin-off of its magazine division Time Inc. as an independent publicly traded company and plans to complete the transaction by the end of this year. Meredith Corp and the company failed to agree on a deal.

Vail Resorts, Inc. ((MTN)) climbed 5.9% or $3.37 to $60.07 after the holding company stated net revenue in the second quarter ending in January soared 13% to $422.5 million from $373.3 million in the same period of last year. Net income in the quarter climbed 30% to $60.6 million or $1.65 a diluted share compared to $46.4 million or $1.27 a share a year ago.