Kroger, Vail Resorts Fall; FedEx, RELM Rise

Mayank Mehta
08 Dec, 2009
New York City

The grocery retailer Kroger declined after it reported weaker than expected quarterly results. Toro Company, Imperial Sugar Co and H&R Block declined after reporting quarterly losses. RELM Wireless surges after it was selected as a radio equipment contractor by federal agencies.

[R]12:30 PM New York – Grocery retailer Kroger declined after it reported weaker than expected quarterly results. Toro Company, Imperial Sugar Co and H&R Block declined after reporting quarterly losses. RELM Wireless surges after it was selected as a radio equipment contractor by federal agencies.[/R]

Of the stocks in S&P 500 index, 289 increased, 201 declined and 10 were unchanged.

The Kroger Co led the decliners in the S&P 500 index with a loss of 13.3% followed by losses in Vail Resorts, Inc of 10.2% and in National Bank of Greece S.A of 9.4%, in Supervalu Inc of 8.2% and in Safeway Inc of 6.8%.

Gannett Co., Inc led gainers in the S&P 500 index with a rise of 5.5% followed by gains in Motorola, Inc 8.1%, and in Green Mountain Coffee Roasters, Inc of 4.1%.

Other Movers

The Bank of Nova Scotia ((BNS)) fell 3.3% or $1.55 to $44.59 after fourth quarter revenues rose 50% to $3.74 billion from $2.49 billion a year ago. Net income in the quarter rose 201.4% to $853 million or 83 cents per diluted share compared to net income of $283 million or 28 cents per share a year ago.

Casey’s General Stores, Inc ((CASY)) fell 4.5% or $1.40 to $29.68 after the general store said second quarter revenues fell 17% to $1.15 billion from $1.39 billion a year ago. Net income in the quarter rose 23% to $33.6 million or 66 cents per diluted share compared to net income of $27.3 million or 54 cents per share a year ago.

FedEx Corp ((FDX)) increased 3.1% to $90.22 after it lifted its earnings per share outlook.

Gannett Co., Inc ((GCI)) a news and information company rose 5.3% or 60 cents to $11.69.

H&R Block, Inc ((HRB)) decreased 1.7% or 36 cents to $20.12 after the tax-preparation specialist reported second quarter revenues fell 7.2% to $326.1 million from $351.5 million a year ago. Net loss in the quarter was $128.6 million or 38 cents per diluted share compared to net loss of $135.9 million or 41 cents per share a year ago.

Imperial Sugar Company ((IPSU)) plunged 11.1% or $2.04 to $16.20 after the sugar company reported fourth quarter sales rose 18% to $147.3 million from $124.8 million a year ago. Net loss in the quarter was $188,000 or 2 cents per diluted share compared to net loss of $5.1 million or 44 cents per share a year ago.

The Kroger Co ((KR)) decreased 12.3% or $2.83 to $20.02 after the retailer said third quarter total sales increased 1.3% to $17.7 billion from $17.6 billion a year ago.

Lukoil ((LUKOY)) decreased 4.8% or $2.70 to $53.90 after an integrated oil and gas company said nine months revenues fell 36.4% to $56.8 billion from $89.3 billion a year ago. Net profit in the nine months fell 51% to $5.3 billion or $6.24 per diluted share compared to net profit of $10.8 billion or $12.85 per share a year ago.

Motorola, Inc ((MOT)) increased 4.5% or 37 cents to $8.50 after the mobile device maker was rated as “outperform” at Sanford Bernstein.

National Bank of Greece ((NBG)) plunged 9.4% to $5.45 after investors worried that rising fiscal deficit will crimp the economic and earnings recovery. Fitch Ratings downgraded Greek sovereign debt.

The Pep Boys-Manny, Moe & Jack ((PBY)) declined 5.1% or 48 cents to $8.79 after an automotive service and retail chain said third quarter revenues rose 2% to $472.6 million from $464.2 million a year ago. Net income in the quarter was $2.1 million or 4 cents per diluted share compared to net loss of $7.3 million or 14 cents per share a year ago.

RELM Wireless Corp ((RWC)) surged 74% to $4.21 after it said that it has been selected as a contractor to provide various government agencies to provide two-way digital radios. The company estimated the maximum value of the contract over the five years to be as much as $750 million.

Supervalu Inc ((SVU)) the grocery channel slipped 7.9% or $1.15 to $13.29.

The Toro Company ((TRC)) fell 3.4% or $1.38 to $38.56 after the maker of outdoor maintenance equipment reported fourth quarter sales fell 15.4% to $288.6 million from $341.2 million a year ago. Net loss in the quarter was $532,000 or 2 cents per diluted share compared to net income of $13,000 or break even per share a year ago.

Vail Resorts, Inc ((MTN)) fell 9.7% or $4.02 to $37.31.