U.S. Movers: FedEx, Winnebago, GameStop, Nike

Mayank Mehta
18 Mar, 2010
New York City

GameStop Corp led gainers in the S&P 500 index. GameStop Corp sees profit drop but predicts sales growth in 2010. Nike Inc quarterly profit more than doubles. FedEx earnings surges more than double on higher air cargo revenues from Asia and Europe.

[R]11:15 AM New York – GameStop Corp led gainers in the S&P 500 index. GameStop Corp sees profit drop but predicts sales growth in 2010. Nike Inc quarterly profit more than doubles. FedEx earnings surges more than double on higher air cargo revenues from Asia and Europe.[/R]

Of the stocks in S&P 500 index, 201 increased, 293 declined and 6 were unchanged.

Advanced Micro Devices, Inc led the decliners in the S&P 500 index with a loss of 3.3% followed by losses in Nabors Industries Ltd of 3.2% and in KeyCorp of 3.0%, in Nvidia Corporation of 2.9% and in Zions Bancorporation of 2.8%.

GameStop Corp led gainers in the S&P 500 index with a rise of 8.6% followed by gains in Nike, Inc 4.9%, in Moody’s Corporation of 3.0% and in Corning Incorporated 2.2%.

Other Movers

Abraxas Petroleum Corporation ((AXAS)) rose 0.9% or 2 cents to $2.11 an energy company said fourth quarter revenues rose 11% to $16.1 million from $14.5 million a year ago. Net loss in the quarter was $8.8 million or 12 cents per diluted share compared to net loss of $56.5 million or $1.15 per share a year ago.

Broadcom Corporation ((BRCM)) rose 0.5% or 19 cents to $33.80 after the maker of semiconductors for wireless headsets and television set-top boxes was upgraded to “buy” from “neutral” at Goldman Sachs.

Burger King Holdings, Inc ((BKC)) increased 2.0% or 40 cents to $20.57 after the fast food store chain operator was upgraded to “buy” from “hold” at Deutsche Bank AG.

Cardinal Health, Inc ((CAH)) the drug distributor rose 0.4% or 17 cents to $35.49.

The Cato Corporation ((CATO)) dropped 0.5% or 12 cents to $21.54 after the women’s fashion specialty store reported fourth quarter revenues rose 4% to $220.9 million from $212.2 million a year ago. Net income in the quarter rose 87% to $7.3 million or 25 cents per diluted share compared to net income of $3.9 million or 13 cents per share a year ago.

Casual Male Retail Group, Inc ((CMRG)) fell 2.0% or 8 cents to $3.83 after the specialty retailer of big and tall men''s apparel reported fourth quarter sales fell 10% to $110.7 million from $123.1 million a year ago. Net income in the quarter was $3.6 million or 8 cents per diluted share compared to net loss of $108.0 million or $2.61 per share a year ago.

Clarcor Inc ((CLC)) dropped 3.2% or $1.13 to $33.50 after the filtration products maker said first quarter sales rose 0.7% to $215.1 million from $213.7 million a year ago. Net income in the quarter rose 69.3% to $14.9 million or 29 cents per diluted share compared to net income of $8.8 million or 17 cents per share a year ago.

Delta Petroleum Corporation ((DPTR)) surged 27.9% or 38 cents to $1.73 after the energy producer announced it has entered into a non-binding letter of intent with Opon International LLC to sell a 37.5% non-operated working interest in the company''s Vega Area assets located in the Piceance Basin for total consideration of $400 million.

FedEx Corporation ((FDX)) decreased 1.5% or $1.36 to $88.57 after the package delivery company reported third quarter revenues rose 7% to $8.70 billion from $8.14 billion a year ago. Net income in the quarter rose 146.4% to $239 million or 76 cents per diluted share compared to net income of $97 million or 31 cents per share a year ago.

GameStop Corp ((GME)) increased 9.3% or $1.83 to $21.69 after the video game retailer reported fourth quarter sales rose 0.9% to $3.52 billion from $3.49 billion a year ago. Net income in the quarter fell 7% to $215.9 million or $1.29 per diluted share compared to net income of $232.3 million or $1.39 per share a year ago.

Guess?, Inc ((GES)) advanced 1.4% or 69 cents to $47.37 after the apparel brand said fourth quarter revenues rose 14.4% to $642.0 million from $561.1 million a year ago. Net income in the quarter rose 81% to $86.6 million or 93 cents per diluted share compared to net income of $47.9 million or 51 cents per share a year ago.

Herman Miller, Inc ((MLHR)) slipped 5.0% or $1.02 to $19.05 after the office furniture maker said third quarter sales fell 7% to $329.6 million from $354.4 million a year ago. Net income in the quarter was $8.3 million or 12 cents per diluted share compared to net loss of $5.2 million or 10 cents per share a year ago.

IHS Inc ((IHS)) fell 2.1% or $1.20 to $54.87 after the provider of energy and security information said first quarter revenues rose 2% to $240.7 million from $235.4 million a year ago. Net income in the quarter fell 1% to $26.8 million or 42 cents per diluted share compared to net income of $27.1 million or 43 cents per share a year ago.

Luby’s, Inc ((LUB)) rose 1.1% or 4 cents to $3.56 after the restaurant operator said second quarter sales fell 12.5% to $53.8 million from $61.5 million a year ago. Net loss in the quarter was $450,000 or 2 cents per diluted share compared to net income of $146,000 or 1 cent per share a year ago.

The Marcus Corporation ((MCS)) rose 0.6% or 8 cents to $13.13 after the lodging and entertainment company reported third quarter revenues rose 6% to $96.4 million from $91.0 million a year ago. Net income in the quarter rose 88% to $3.2 million or 11 cents per diluted share compared to net income of $1.7 million or 6 cents per share a year ago.

MedCath Corporation ((MDTH)) surged 14.8% or $1.40 to $10.87 after the operator of cardiovascular-care hospitals was upgraded to “buy” from “hold” at Deutsche Bank.

New York & Company, Inc ((NWY)) gained 6.3% or 28 cents to $4.69 after the specialty retailer of women''s apparel reported fourth quarter sales fell 8% to $298.0 million from $325.1 million a year ago. Net income in the quarter was $2.5 million or 4 cents per diluted share compared to net loss of $27.4 million or 46 cents per share a year ago.

Nike, Inc ((NKE)) rose 1.5% or $1.12 to $72.00 after the athletic shoe and clothing company said third quarter revenues rose 6.5% to $4.73 billion from $4.44 billion a year ago. Net income in the quarter rose 111% to $496.4 million or $1.01 per diluted share compared to net income of $234.8 million or 50 cents per share a year ago.

Ross Stores, Inc ((ROST)) fell 0.6% or 37 cents to $53.59 after the discount retail apparel and home accessories store reported fourth quarter sales rose 14.4% to $1.98 billion from $1.73 billion a year ago. Net income in the quarter rose 46.7% to $142.9 million or $1.16 per diluted share compared to net income of $97.4 million or 76 cents per share a year ago.

Shoe Carnival, Inc ((SCVL)) gained 6.6% or $1.55 to $23.43 after the family footwear retailer reported fourth quarter sales rose 8.8% to $170.8 million from $156.9 million a year ago. Net income in the quarter was $2.6 million or 20 cents per diluted share compared to net loss of $3.0 million or 24 cents per share a year ago.

Stein Mart, Inc ((SMRT)) increased 8.8% or 84 cents to $10.29 after the discount retailer reported fourth quarter sales fell 6% to $341.8 million from $363.9 million a year ago. Net income in the quarter was $2.7 million or 6 cents per diluted share compared to net loss of $56.2 million or $1.35 per share a year ago.

STR Holdings LLC ((STRI)) increased 3.8% or 76 cents to $20.60 after the manufacturer of solar photovoltaic products said fourth quarter sales rose 6% to $79.9 million from $75.4 million a year ago. Net income in the quarter rose 178% to $8.9 million or 23 cents per diluted share compared to net income of $3.2 million or 9 cents per share a year ago.

Winnebago Industries, Inc ((WGO)) slipped 5.4% or 75 cents to $13.80 after the motorhome maker reported second quarter revenues rose 247.5% to $110.5 million from $31.8 million a year ago. Net income in the quarter was $706,000 or 2 cents per diluted share compared to net loss of $10.4 million or 36 cents per share a year ago.

The company also filed with the regulators to sell additional shares to raise $35 million in a public offering.