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Market Update

Chrysler March Sales Climbs 13%, Ford Sales Up 3%


Author: Mukesh Buch
ticker.com
Last Update: 12:28 PM ET April 01 2014

12:15 PM New York – Checkpoint and Gencorp net loss narrowed. Chrysler said March sales were the best since 2007 and climbed 13%. Ford sales rose 3%. Toyota sales climbed 4.9%. Verint Systems earnings rose 4%.

Checkpoint Systems, Inc (CKP) slipped 1.8% or 25 cents to $13.17 after the electronic surveillance systems provider said net revenue in the fourth-quarter ending on December 29 fell 3% to $194.4 million.

Net loss in the quarter narrowed to $5.1 million or 12 cents a diluted share compared to $34.3 million or 73 cents.

Chrysler Group LLC, the automaker said March U.S. sales climbed 13% to 171,606 units, the group’s best March sales since 2007. FIAT brand sales were up 24% to 4,738 units but Chrysler brand sales declined 23% to 26,140 units.

Ford Motor Company (F) climbed 3.1% or 49 cents to $16.09 after the vehicle company reported March U.S. sales increase 3% to 244,167 units and retail sales rose 3% to 166,030 units.

Fusion posted record sales climbed 9% to 32,963 units, all-time monthly record since the launch in 2005.

The automaker separately said Ford India’s domestic sales in March surged 21% to 6,356 units.

General Motors Company (GM) gained 1.2% or 41 cents to $34.83 and the automaker expects to report its sales this afternoon before the close of business due to a computer systems issue.

Gencorp Inc (GY) rose 3 cents to $18.30 after the aircraft parts maker stated net sales in the first-quarter ending in February soared to surged 35.3% to $329.7 million.

Net loss in the quarter narrowed to $2.1 million or 3 cents compared to $14 million or 24 cents.

Toyota Motor Corp rose 16 cents to $113.06 after the Japan-based automaker reported March sales jumped 215,348 units from 205,342 a year ago.

Verint Systems Inc (VRNT) climbed 3.7% or $1.72 to $48.65 after the value-added service provider reported total revenue in the fourth-quarter ending in January jumped 11.6% to $255.7 million.

Net income in the quarter rose 4.5% to $22.9 million or 42 cents a diluted share compared to $21.9 million or 50 cents.

For the year, the company expects revenue in the range of $1.08 billion to $1.13 billion and diluted earnings per share in the range of $3.20 to $3.40.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc