Brocade, Intuit Fall; Salesforce.com Surge

Mayank Mehta
21 Aug, 2009
New York City

Brocade Communications declined after it swung to net loss. Foot Locker, Gap, Pacific Sunwear, Zumiez and Ann Taylor declined on weak results. Intuit declined on higher than expected loss. Mentor Graphics surges on guidance.

[R]12:30 PM New York – Brocade Communications declined after it swung to net loss. Foot Locker, Gap, Pacific Sunwear, Zumiez and Ann Taylor declined on weak results. Intuit declined on higher than expected loss. Mentor Graphics surges on guidance.[/R]

Of the stocks in S&P 500 index, 426 increased, 70 declined and 4 were unchanged.

Intuit Inc led the decliners in the S&P 500 index with a loss of 9.5% followed by losses in The Washington Post Company of 3.0%, in Nike, Inc of 1.9%, in Cigna Corporation of 1.7% and in Expedia, Inc of 1.3%.

Salesforce.com, Inc led gainers in the S&P 500 index with a rise of 13.4% followed by gains in The J. M. Smucker Company 6.3%, in American International Group, Inc of 5.5% and Limited Brands, Inc of 4.1%.

Other Movers

Aeropostale, Inc ((ARO)) added 0.5% or 18 cents to $36.06 after the teen apparel retailer said second quarter revenues rose 20% to $453 million from $377.1 million a year ago. Net income in the quarter rose 83% to $38.6 million or 57 cents per diluted share compared to net income of $21.1 million or 31 cents per share a year ago.

AnnTaylor Stores Corporation ((ANN)) fell 2.9% or 38 cents to $12.44 a women''s clothing retailer reported second quarter revenues fell 20.6% to $470.2 million from $592.3 million a year ago. Net loss in the quarter was $18.0 million or 32 cents per diluted share compared to net income of $29.3 million or 50 cents per share a year ago.

Brocade Communications Systems, Inc ((BRCD)) slid 6.2% or 50 cents to $7.55 after the company reported third quarter revenues of $493.3 million, a rise of 35% from a year ago and declined 3% from the second quarter. In the quarter the switch maker lost 21 million compared to profit of $20.3 million a year ago.

China Finance Online Co. Limited ((JRJC)) advanced 2.4% or 26 cents to $10.80 after the Chinese online financial information and listed company data provider said second quarter revenues fell 16% to $12.28 million from $14.68 million a year ago. Net loss in the quarter was $2.40 million or 11 cents per ADS compared to net income of $4.56 million or 20 cents per ADS a year ago.

Exide Technologies ((XIDE)) jumped 11.2% or 71 cents to $7.03 after the automotive batteries maker was upgraded to “overweight” from “market weight” at Thomas Weisel Partners Group.

Foot Locker, Inc ((FL)) decreased 7.0% or 80 cents to $10.50 after the athletic shoe and apparel retailer said second quarter revenues fell 16% to $1.10 billion from $1.30 billion a year ago. The company reported a break-even earnings performance for the second quarter August 2009 compared to net income of $18 million or 11 cents per share a year ago.

The Gap, Inc ((GPS)) declined 0.3% or 6 cents to $18.79 after the apparel chain said second quarter revenues fell 7% to $3.25 billion from $3.50 billion a year ago. Net income in the quarter fell 0.4% to $228 million or 33 cents per diluted share compared to net income of $229 million or 32 cents per share a year ago.

Intuit Inc ((INTU)) dropped 3.2% or $1.00 to $29.85 after the personal finance and business software maker said fourth quarter revenues fell 0.5% to $475.8 million from $478.2 million a year ago. Net loss in the quarter was $70.7 million or 22 cents per diluted share compared to net loss of $61.9 million or 19 cents per share a year ago.

The J. M. Smucker Company ((SJM)) rose 5.9% or $3.06 to $54.94 after the maker of jams, jellies and Jif peanut butter reported first quarter revenues rose 58% to $1.05 billion from $663.7 million a year ago. Net income in the quarter rose 132% to $98.1 million or 83 cents per diluted share compared to net income of $42.3 million or 77 cents per share a year ago.

Mentor Graphics Corporation ((MENT)) added 15.7% or $1.25 to $9.17 after the maker of software for designing and testing semiconductors reported second quarter revenues of $182.6 million and non-GAAP earnings per share of 2 cents and a GAAP loss per share of 22 cents. Bookings for the quarter rose 15% over the prior fiscal second quarter. The company guided third quarter sales of $183 million, ahead of market expectations.

Nordson Corporation ((NDSN)) gained 9.6% or $4.79 to $54.62 after the maker of precision dispensing equipment said third quarter revenues fell 28.5% to $206.3 million from $288.4 million a year ago. Net income in the quarter fell 26% to $24 million or 71 cents per diluted share compared to net income of $32.4 million or 93 cents per share a year ago.

Pacific Sunwear of California, Inc ((PSUN)) fell 7.2% or 29 cents to $3.70 after the lifestyle specialty retailer said second quarter sales fell 22% to $242.8 million from $312.7 million a year ago. Net loss in the quarter was $14.2 million or 22 cents per diluted share compared to net income of $2.8 million or 4 cents per share a year ago.

Salesforce.com, Inc ((CRM)) rose 15.7% or $7.32 to $53.50 after the seller of Internet-based customer management software said today is raising the full year revenue guidance it provided on May 21, 2009, with revenue now expected to be approximately $1.27 billion to approximately $1.28 billion.

Ship Finance International Limited ((SFL)) increased 4.3% or 53 cents to $12.68 an international ship owning company said second quarter sales fell 27% to $88.2 million from $120.9 million a year ago. Net income in the quarter fell 25% to $53.5 million or 72 cents per diluted share compared to net income of $71.3 million or 98 cents per share a year ago.

Zumiez Inc ((ZUMZ)) surged 19% to $14.60 after it reported second quarter sale decreased 7.7% to $85.2 million and net loss of $3.1 million or 10 cents a share.