Home Depot, Expeditors Rise; Nordstrom Falls

Mayank Mehta
23 Feb, 2010
New York City

Home Depot increased on positive outlook and better than expected earnings. Cracker Barrel surged 8% after quarterly earnings increased 38%. Expeditors International soared 7% after quarterly net declined less than expected.

[R]1:30 PM New York – Home Depot increased on positive outlook and better than expected earnings. Cracker Barrel surged 8% after quarterly earnings increased 38%. Expeditors International soared 7% after quarterly net declined less than expected.[/R]

Barnes & Noble, Inc decreased 4.7% to $20.50 after the bookseller reported third quarter sales rose 33% to $2.17 billion from $1.63 billion a year ago. Net income in the quarter fell 5.6% to $80.4 million or $1.38 per diluted share compared to net income of $85.2 million or $1.42 per share a year ago.

Brocade Communications Systems Inc ((BRCD)) declined 24% to $5.29 after the company estimated lower than estimated 2010 adjusted earnings of 58 cents a share.

Cracker Barrel Old Country Store, Inc ((CBRL)) increased 8% to $43.05 an operator of restaurants reported second quarter revenues rose 0.4% to $632.6 million from $630.2 million a year ago. Net income in the quarter rose 38% to $25.4 million or $1.09 per diluted share compared to net income of $18.4 million or 81 cents per share a year ago.

Corning Inc ((GLW)) decreased 2.7% to $17.30 on negative comments from an analyst.

Expeditors International of Washington, Inc ((EXPD)) increased 6.8% to $36.92 the provider of logistics services reported fourth quarter revenues fell 4.5% to $1.25 billion from $1.31 billion a year ago. Net income in the quarter fell 11% to $69.1 million or 32 cents per diluted share compared to net income of $77.7 million or 36 cents per share a year ago.

First Solar Inc ((FSLR)) declined 5.8% to $106.52 after cautious comments and a downgrade from an analyst.

Healthsouth Corp ((HLS)) decreased 6.4% to $17.68 after health insurance companies declined in trading.

Helmrich & Payne Inc ((HP)) decreased 0.3% to $41.63 after the company was selected to be added to the S&P 500 index.

The Home Depot, Inc increased 1.6% to $30.81 after the home improvement retailer reported fourth quarter sales fell 0.3% to $14.57 billion from $14.61 billion a year ago. Net income in the quarter was $342 million or 20 cents per diluted share compared to net loss of $54 million or 3 cents per share a year ago.

Macy''s, Inc ((M)) increased 0.4% to $18.55 the retail company reported fourth quarter sales fell 1% to $7.85 billion from $7.93 billion a year ago. Net income in the quarter was $466 million or $1.10 per diluted share compared to net loss of $4.8 billion or $11.33 per share a year ago.

Comparable same-store sales decreased 0.8%.



Medtronic, Inc ((MDT)) declined 1.4% to $43.05 the medical device maker reported third quarter sales rose 10.3% to $3.85 billion from $3.49 billion a year ago. Net income in the quarter rose 19% to $831 million or 75 cents per diluted share compared to net income of $698 million or 62 cents per share a year ago.

Office Depot, Inc ((ODP)) increased 2.4% to $6.81 the supplier of office products and services reported fourth quarter sales fell 6% to $3.07 billion from $3.27 billion a year ago. Net loss in the quarter was $76.7 million or 28 cents per diluted share compared to net loss of $1.54 billion or $5.64 per share a year ago.

MercadoLibre Inc ((MELI)) dropped 7.3% to $37.96 after it reported fourth quarter revenues of $49 million, sharply lower than $55 million estimated by analysts surveyed by 123jump.com.

Nordstrom In ((JWN)) declined 0.2% to $36.07 after the luxury retailer reported fourth quarter net income of $172 million or 77 cents a share lower than estimated by analysts.

Palm Inc ((PALM)) declined 7.2% to $8.45.

Radian Group Inc ((RDN)) surged 10.4% to $9.47.

The St. Joe Company declined 3.1% to $28.64 the real estate development company reported fourth quarter revenues fell 18% to $37.1 million from $45.3 million a year ago. Net loss in the quarter was $59.3 million or 65 cents per diluted share compared to net loss of $27.9 million or 31 cents per share a year ago.

Target Corporation declined 1.1% to $50.11 after the discount retailer reported fourth quarter sales rose 3.7% to $19.7 billion from $19.0 billion a year ago. Net income in the quarter rose 53.7% to $936 million or $1.24 per diluted share compared to net income of $609 million or 81 cents per share a year ago.