Dell, D.R. Horton Drop; Dillard's Rises

Mayank Mehta
20 Nov, 2009
New York City

Dell plunged nearly 9% after it missed quarterly revenues and earnings estimates. The Dress Barn, Inc quarterly net rises. The Gap, Inc third quarter net up 25%. Intuit Inc quarterly loss increases. D.R. Horton, Inc fourth quarter loss narrows.

[R]12:30 PM New York – The J. M. Smucker Company led gainers in the S&P 500 index with a rise of 4.6%. Dell plunged nearly 9% after it missed quarterly revenues and earnings estimates. The Dress Barn, Inc quarterly net rises. The Gap, Inc third quarter net up 25%. Intuit Inc quarterly loss increases. D.R. Horton, Inc fourth quarter loss narrows.[/R]

Of the stocks in S&P 500 index, 189 increased, 305 declined and 6 were unchanged.

Dell Inc led the decliners in the S&P 500 index with a loss of 8.5% followed by losses in D.R. Horton, Inc of 6.2%, in Pulte Homes, Inc of 2.9%, in Principal Financial Group, Inc of 2.5% and in Dominion Resources, Inc of 2.5%.

The J. M. Smucker Company led gainers in the S&P 500 index with a rise of 4.6% followed by gains in E*TRADE Financial Corporation 3.6%, in Novell, Inc of 2.2% and in J. C. Penney Company, Inc of 2.2%.

Other Movers

ADC Telecommunications, Inc ((ADCT)) plunged 13.4% or 89 cents to $5.75 after the maker of equipment for telephone companies said first quarter fiscal 2010 net sales are expected to be within the range of $250-275 million.

Aflac Incorporated ((AFL)) advanced 2.0% or 89 cents to $44.73 after the seller of supplemental health insurance was upgraded to “overweight” from “equal weight” at Morgan Stanley.

America’s Car-Mart, Inc ((CRMT)) added 3.7% or 86 cents to $24.00 an automotive retailer reported second quarter revenues rose 14.7% to $82.6 million from $72.0 million a year ago. Net income in the quarter rose 61.5% to $6.3 million or 53 cents per diluted share compared to net income of $3.9 million or 33 cents per share a year ago.

AnnTaylor Stores Corporation ((ANN)) rose 1.3% or 19 cents to $14.00 after the specialty retailer of women’s apparel reported third quarter sales fell 12.3% to $462.4 million from $527.2 million a year ago. Net income in the quarter was $2.1 million or 3 cents per diluted share compared to net loss of $13.4 million or 24 cents per share a year ago.

Aruba Networks, Inc ((ARUN)) declined 5.7% or 55 cents to $9.03 after the builder of wireless networks said first quarter revenues increased 10% to $57.6 million from $52.4 million a year ago.

The Dress Barn, Inc ((DBRN)) added 5.9% or $1.23 to $21.75 after the women''s clothing retailer said first quarter sales rose 7.4% to $404.1 million from $376.4 million a year ago. Net income in the quarter rose 10% to $21.7 million or 33 cents per diluted share compared to net income of $19.7 million or 30 cents per share a year ago.

Dell Inc ((DELL)) plunged 8.9% or $1.43 to $14.44 after the maker of personal computers reported weaker than expected quarter sales and higher than estimated fall in earnings.

Dillard''s, Inc ((DDS)) rose 7.4% or $1.06 to $15.34 after the department-store chain was upgraded to “buy” from “hold” at Deutsche Bank AG.

D.R. Horton, Inc ((DHI)) decreased 6.6% or 81 cents to $11.50 after the homebuilder reported fourth quarter revenues fell 42.3% to $1.01 billion from $1.75 billion a year ago. Net loss in the quarter was $231.9 million or 73 cents per diluted share compared to net loss of $799.9 million or $2.53 per share a year ago.

Foot Locker, Inc ((FL)) decreased 4.6% or 49 cents to $10.10 after the athletic shoes seller said third quarter sales fell 7.6% to $1.21 billion from $1.31 billion a year ago. Net loss in the quarter was $6 million or 4 cents per diluted share compared to net income of $24 million or 16 cents per share a year ago.

The Gap, Inc ((GAP)) dropped 1.1% or 26 cents to $21.60 after the apparel retailer said third quarter sales rose 0.8% to $3.59 billion from $3.56 billion a year ago. Net income in the quarter rose 25% to $307 million or 44 cents per diluted share compared to net income of $246 million or 35 cents per share a year ago.

Hibbett Sports, Inc ((HIBB)) surged 10.6% or $2.02 to $20.99 after the sporting goods retailer said third quarter sales rose 4% to $145.9 million from $140.1 million a year ago. Net income in the quarter rose 14.3% to $8.8 million or 30 cents per diluted share compared to net income of $7.7 million or 26 cents per share a year ago.

Intuit Inc ((INTU)) slipped 2.4% or 75 cents to $29.52 after the software maker said fiscal first quarter revenues rose 2.5% to $493 million from $481 million a year ago. Net loss in the quarter was $68 million or 21 cents per diluted share compared to net loss of $52 million or 16 cents per share a year ago.

The J. M. Smucker Company ((SJM)) increased 4.7% or $2.52 to $56.00 after the food company reported second quarter sales rose 52% to $1.28 billion from $843.1 million a year ago. Net income in the quarter rose 172% to $140.0 million or $1.18 per diluted share compared to net income of $51.5 million or 94 cents per share a year ago.

Kirkland’s, Inc ((KIRK)) rose 3.5% or 47 cents to $13.75 after the specialty retailer of home decor reported third quarter sales rose 7.6% to $92.4 million from $85.9 million a year ago. Net income in the quarter was $5.6 million or 27 cents per diluted share compared to net loss of $1.5 million or 7 cents per share a year ago.

Taleo Corporation ((TLEO)) the developer of human resources software fell 2.4% or 51 cents to $20.51.

Verigy Ltd ((VRGY)) the maker of semiconductor-testing equipment increased 8.6% or 78 cents to $9.78.

The Wet Seal, Inc ((WTSLA)) decreased 6.3% or 21 cents to $3.09 after the apparel chain for teenage girls said fourth quarter fiscal 2009 guidance total net sales between $149 million and $155 million compared to $154.9 million in the fourth quarter of fiscal 2008.