Adobe, Air Products, FedEx Jump; Actuant, ConAgra, La-Z-Boy Fall

Mukesh Buch
18 Jun, 2014
New York City

Actuant net swung to profit on 10% increase in sales. Adobe profit soared 16%. Air Products won a five-year contract from NASA. ConAgra CEO sold 50,000 shares on Monday. FedEx net more than doubled. JTH Holding net climbed 14%. La-Z-Boy profit declined 74%.

[R]12:30 PM New York – Actuant net swung to profit on 10% increase in sales. Adobe profit soared 16%. Air Products won a five-year contract from NASA. ConAgra CEO sold 50,000 shares on Monday. FedEx net more than doubled. JTH Holding net climbed 14%. La-Z-Boy profit declined 74%.[/R]

Actuant Corporation ((ATU)) declined 4.5% or $1.65 to $34.65 after the diversified company said total sales in the third-quarter ending in March climbed 10% to $378 million.

Net in the quarter swung to profit $50.6 million or 70 cents a diluted share compared to a loss of $93 million or $1.24.

On June 16, the company completed the sale of its recreational vehicle business having annual revenues of about $30 million to Drew Industries Inc.

Adobe Systems Inc ((ADBE)) surged 7.8% or $5.29 to $72.83 after the diversified software company reported total revenue in the second-quarter ending in May advanced 5.9% to $1.07 billion.

Net income in the quarter soared 15.7% to $88.5 million or 17 cents a diluted share compared to $76.5 million or 15 cents.

Air Products & Chemicals, Inc ((APD)) surged 6.6% or $8.09 to $129.69 after NASA awarded contracts to supply liquid nitrogen of about 150,690 tons and 600 tons of oxygen gas to its Ames Research Center, Glenn Research Center and Marshall Space Center with an annual fixed price contract worth $10.5 million for a period of five years.

ConAgra Foods Inc ((CAG)) plunged 7.3% or $2.39 to $30.46 after the packaged food company’s Gary M. Rodkin chief executive officer sold 50,000 shares on June 16 at an average price of $32.44 for a total value of $1,622,000.

FedEx Corporation ((FDX)) climbed 4.8% or $6.77 to $147.08 after the air-freight and logistic company reported revenue in the fourth-quarter ending in May rose 3.5% to $11.8 billion.

Net income in the quarter surged 140.9% to $730 million or $2.46 a diluted share compared to $303 million or 95 cents.

The company forecasted diluted earnings per share for the fiscal 2015 between $8.50 and $9 and capital spending to increase to about $4.2 billion.

JTH Holding Inc ((TAX)) jumped 2.8% or 78 cents to $28.88 after the accounting services provider said total revenue in the fourth-quarter ending in April jumped 10.9% to $103.6 million.

Net income in the quarter climbed 14% to $30.05 million or $2.18 a diluted share compared to $26.39 million or $2.01.

La-Z-Boy Inc ((LZB)) plummeted 8.8% or $2.18 to $22.66 after the furniture products maker stated sales in the fourth-quarter ending on April 26increased 2.1% to $353 million.

Net income in the quarter declined 73.8% to $12.2 million or 23 cents a diluted share compared to $18.3 million or 33 cents.