Abercrombie, PetSmart Surge; Ciena, Sina Drop

Mayank Mehta
04 Mar, 2010
New York City

Foot Locker swings to profit. PetSmart profit dips 4% and forecast better than expected outlook. Take-Two cuts losses and revenue jumps. Limited Brands February same-store sales rise 10%. Urban Outfitters profit climbs 92%. Ciena plunges after quarterly loss nearly doubles.

[R]1:00 PM New York –Foot Locker swings to profit. PetSmart profit dips 4% and forecast better than expected outlook. Take-Two cuts losses and revenue jumps. Limited Brands February same-store sales rise 10%. Urban Outfitters profit climbs 92%. Ciena plunges after quarterly loss widens.[/R]

Of the stocks in S&P 500 index, 321 increased, 165 declined and 14 were unchanged.

Avery Dennison Corporation led the decliners in the S&P 500 index with a loss of 3.5% followed by losses in Fifth Third Bancorp of 2.6% and in Capital One Financial Corporation of 2.2%, in JDS Uniphase Corporation of 2.2% and in Intuitive Surgical, Inc of 2.0%.

Abercrombie & Fitch Co led gainers in the S&P 500 index with a rise of 8.5% followed by gains in Family Dollar Stores, Inc 6.2%, in Meredith Corporation of 3.8% and in Urban Outfitters, Inc 2.9%.

Other Movers

Abercrombie & Fitch Co ((ANF)) the specialty retailer surged 10.7% or $3.88 to $40.06.

Avery Dennison Corporation ((AVY)) the engaged in the production of pressure-sensitive materials, office products fell 2.5% or 81 cents to $30.62.

Babcock & Brown Air Limited ((FLY)) added 4.1% or 40 cents to $10.00 after the lessor of commercial jet aircraft said fourth quarter revenues rose 9% to $66.1 million from $60.7 million a year ago. Net income in the quarter rose 45.7% to $13.7 million or 45 cents per diluted share compared to net income of $9.4 million or 28 cents per share a year ago.

Celera Corporation ((CRA)) decreased 0.9% or 6 cents to $6.08 after the laboratory testing products and disease manager said fourth quarter revenues fell 15.4% to $40.0 million from $47.3 million a year ago. Net income in the quarter was $7.8 million or 9 cents per diluted share compared to net loss of $6.1 million or 8 cents per share a year ago.

Ciena Corporation ((CIEN)) plunged 10.0% or $1.45 to $13.10 after the network specialist said first quarter revenues rose 5% to $175.9 million from $167.4 million a year ago. Net loss in the quarter was $53.3 million or 58 cents per diluted share compared to net loss of $24.8 million or 27 cents per share a year ago.

Coldwater Creek Inc ((CWTR)) gained 7.2% or 39 cents to $5.80 after the women''s apparel maker said fourth quarter sales rose 12.4% to $318.4 million from $283.2 million a year ago. Net loss in the quarter was $9.7 million or 11 cents per diluted share compared to net loss of $18.6 million or 20 cents per share a year ago.

The Coca-Cola Company ((KO)) rose 1.6% or 89 cents to $54.82 after the soda maker was upgraded to “buy” from “neutral” at UBS AG.

Darling International Inc ((DAR)) declined 7.6% or 63 cents to $7.56 after the provider of rendering, recycling and recovery solutions to food industry said fourth quarter sales rose 0.8% to $149.6 million from $148.5 million a year ago. Net income in the quarter was $9.2 million or 11 cents per diluted share compared to net loss of $14.0 million or 17 cents per share a year ago.

Del Monte Foods Company ((DLM)) gained 3.6% or 46 cents to $12.95 after the processed food maker said third quarter sales rose 7% to $1.01 billion from $942.3 million a year ago. Net income in the quarter fell 2% to $59.4 million or 29 cents per diluted share compared to net income of $60.5 million or 30 cents per share a year ago.

Fifth Third Bancorp ((FITB)) dropped 1.5% or 19 cents to $12.35 after the bank was downgraded to “market perform” from “outperform” at Sanford C. Bernstein & Co.

Foot Locker, Inc ((FL)) rose 1.0% or 14 cents to $13.15 after the shoe store said fourth quarter sales rose 0.8% to $1.33 billion from $1.32 billion a year ago. Net income in the quarter was $23 million or 14 cents per diluted share compared to net loss of $125 million or 81 cents per share a year ago.

Fuel Systems Solutions, Inc ((FSYS)) gained 7.1% or $2.02 to $30.30 after the supplier of alternative fuel components and systems said fourth quarter revenues rose 94% to $163.7 million from $84.3 million a year ago. Net income in the quarter was $19.9 million or $1.12 per diluted share compared to net income of $641,000 or 4 cents per share a year ago.

Genesco ((GCO)) rose 0.1% or 5 cents to $25.86 after the retailer of branded footwear said fourth quarter sales rose 6% to $479.0 million from $451.7 million a year ago. Net income in the quarter rose 11.6% to $25.9 million or $1.08 per diluted share compared to net income of $23.2 million or $1.05 per share a year ago.

OmniVision Technologies, Inc ((OVTI)) gained 7.8% or $1.14 to $15.35 after the maker of image sensors for camera phones was upgraded to “outperform” from “neutral” at Robert W Baird & Co.

PetSmart, Inc ((PETM)) surged 10.8% or $3.00 to $30.71 after the pet products retailer said fourth quarter sales rose 3.7% to $1.41 billion from $1.36 billion a year ago. Net income in the quarter fell 4.3% to $75.0 million or 61 cents per diluted share compared to net income of $78.4 million or 62 cents per share a year ago.

Primedia Inc ((PRM)) closed unchanged at $3.91 after the media company said fourth quarter revenues fell 16.5% to $61.3 million from $73.4 million a year ago. Net income in the quarter fell 65.3% to $11.1 million or 25 cents per diluted share compared to net income of $32.0 million or 72 cents per share a year ago.

Sina Corporation ((SINA)) dropped 4.3% or $1.64 to $35.85 an online media company said fourth quarter sales fell 3.3% to $98.2 million from $101.5 million a year ago. Net income in the quarter was $372.1 million or $6.03 per diluted share compared to net income of $25.2 million or 42 cents per share a year ago.

Suntech Power Holdings Co. Ltd ((STP)) increased 4.3% or 70 cents to $14.38 after the solar energy company said fourth quarter revenues rose 41% to $583.6 million from $414.4 million a year ago. Net income in the quarter was $49.9 million or 27 cents per ADS compared to net loss of $109.1 million or 69 cents per ADS a year ago.

Take-Two Interactive Software, Inc ((TTWO)) increased 5.6% or 51 cents to $9.54 after the video game publisher said first quarter revenues rose 9% to $163.2 million from $149.4 million a year ago. Net loss in the quarter was $33.9 million or 43 cents per diluted share compared to net loss of $50.4 million or 66 cents per share a year ago.

Transatlantic Holdings, Inc ((TRH)) the reinsurance company increased 5.3% or $2.73 to $53.68.

Urban Outfitters, Inc ((URBN)) rose 4.6% or $1.55 to $34.95 after the specialty retailer said fourth quarter sales rose 16% to $588.5 million from $508.1 million a year ago. Net income in the quarter rose 92% to $77.7 million or 45 cents per diluted share compared to net income of $40.5 million or 24 cents per share a year ago.

The Walt Disney Company ((DIS)) added 2.9% or 93 cents to $32.57 after the media company was upgraded to “buy” from “neutral” at Bank of America Corp.