Expeditors, ADM Surge; Herbalife Plunges

Mayank Mehta
04 Nov, 2008
New York City

Herbalife Ltd plunged 23% after it issued cautious sales outlook for the fourth quarter on strong dollar. Fluor Corp surged after JP Morgan made positive comments. Archer Daniels Midland surged 21% after net income jumped nearly 250%. Expeditors International soared 22% on 15% earnings gains.

[R]1:25 p.m. New York – Herbalife Ltd plunged 23% on weak sales outlook. Expeditors International soared 22% on higher earnings.[/R]

Archer Daniels Midland Company ((ADM)) gained 21.1% or $4.47 to $25.57 after the largest U.S. food processors and ethanol producer reported sharply higher quarterly profit. Net income jumped to $1.05 billion, or $1.63 per share, in the first quarter ended Sept. 30 from $441 million, or 68 cents per share, a year earlier. Higher food prices and accounting changes lifted the earnings.

Automatic Data Processing, Inc ((ADP)) climbed 4.4% or $1.49 to $34.76 after the fiscal first-quarter net income fell 6.9% as the company lowered its 2009 revenue but reaffirmed the earnings outlook. First quarter revenues rose 9.5% to $2.18 billion from $1.99 billion a year ago. Net income in the quarter fell 7% to $276.9 million or 54 cents per diluted share compared to net income of $297.4 million or 55 cents per share, a year ago.

Coldwater Creek Inc ((CWTR)) fell 19% or 66 cents to $2.74 after the company lowered its third quarter and withdrew fourth quarter outlook. For the third quarter the company expects sales of $225 million and loss per share between 7 cents and 9 cents. The company anticipates with $70 million in cash at the end of the year in December and lowered the number of new stores opening to 15 from 40 new stores in the current year.

Expeditors International of Washington Inc ((EXPD)) surged 22% or $7.04 to $39.04 after the company reported third quarter revenue rise of 12% to $429.13 million and earnings gain of 15% to 85.5 million from a year ago. Diluted earnings per share increased to 39 cents from 34 cents a share.

Fluor Corp ((FLR)) surged 11.7% or $4.33 to $41.76 after JP Morgan issued positive comments on the company business.

Herbalife Ltd. ((HLF)) plunged 23% or $5.95 to $19.50 after it reported third quarter revenue rise of 13.7% to $602.2 million and net income per share of 89 cents compared to 67 cents per share. The sales in the fourth quarter are expected to decline between 6% and 7% and earnings per share are estimated between 65 cents and 70 cents. For the full year company guided between $3.50 and $3.55 per share on volume growth between 4% and 5% and revenue rise between 10% and 11%. The company blamed the recent rise in the U.S. dollar on weaker sales outlook.

Interline Brands, Inc ((IBI)) dropped 3.6% or 39 cents to $10.25 after the distributor and direct marketer of maintenance products said third quarter revenues fell 3.8% to $317.5 million from $330.2 million a year ago. Net income in the quarter fell 14% to $13.7 million or 42 cents per diluted share compared to net income of $16 million or 49 cents per share, a year ago.

LookSmart, Ltd ((LOOK)) gained 4.5% to 7 cents to $1.80 after the online search advertising network said third quarter revenues rose 37% to $15.4 million from $11.3 million a year ago. Net loss in the quarter was $1.6 million or 10 cents per diluted share compared to net loss of $4.3 million or 19 cents per share, a year ago.

MasterCard Incorporated ((MA)) climbed 8.3% or $11.56 to $155.45 after the world''s second-largest card network said third quarter revenues rose 24% to $1.34 billion from $1.08 billion a year ago. Net loss in the quarter was $193.6 million or $1.49 per diluted share compared to net income of $314.5 million or $2.31 per share, a year ago.

Och-Ziff Capital Management Group LLC ((OZM)) gained 28.4% or $1.25 to $5.65 after an alternative asset management firm and an alternative asset manager reported third quarter revenues rose 7% to $157 million from $147 million a year ago. Net loss in the quarter was $69.4 million or $1.07 per diluted share compared to net loss of $339.9 million a year ago.

Principal Financial Group ((PFG)) added 17.9% or $3.40 to $22.39 after the retirement, insurance and financial services company said third quarter revenues fell 24% to $2.75 billion from $2.94 billion a year ago. Net income in the quarter fell 61% to $90.1 million or 35 cents per diluted share compared to net income of $232.3 million or 87 cents per share, a year ago.

PPL Corporation ((PPL)) lost 7.8% or $2.61 to $29.85 after the energy and utility holding company reported third quarter revenues rose 66% to $3 billion from $1.8 billion a year ago. Net income in the quarter fell 37% to $203 million or 54 cents per diluted share compared to net income of $322 million or 84 cents per share, a year ago.

Stifel Financial Corp ((SF)) slid 3.7% or $1.63 to $42.02 after the financial services company said third quarter revenues rose 20% to $218.9 million from $183 million a year ago. Net income in the quarter rose 58% to $12.8 million or 46 cents per diluted share compared to net income of $8.1 million or 30 cents per share, a year ago.

TNS, Inc ((TNS)) decreased 3.8% or 55 cents to $13.63 after the leading provider of business-critical, cost-effective data communications services said third quarter revenues rose 4.8% to $88.6 million from $84.5 million a year ago. Net income in the quarter rose 375% to $1.9 million or 7 cents per diluted share compared to net income of $0.4 million or 2 cents per share, a year ago.