12:15 PM New York – Ciena surged after net loss narrowed and sales increaed 10%. J.M. Smucker net and revenue declined. Joy Global net tumbled 59% and sales plunged 32%. Navistar net loss narrowed. PVH net swung to profit. UTi Worldwide loss widened. Verint net swung to profit.
A. Schulman Inc
) rose 5 cents to $35.24 after the plastic compounds and resins supplier agreed to acquire specialty plastics business segment from Ferro Corporation for $91 million in cash. The transaction is expected to close by August.
) surged 17.2% or $3.25 to $22.24 after the network equipment provider reported revenue in the second-quarter in April jumped 10.3% to $560 million.
Net loss in the quarter narrowed to $10.2 million or 10 cents a diluted share compared to $27.1 million or 27 cents.
The J.M. Smucker Company
) jumped 1.4% or $1.42 to $104.25 after the fruit and vegetable processor reported net sales in the fourth-quarter ending in April dropped 8% to $1.23 billion.
Net income in the quarter declined 9% to $118.5 million or $1.16 a diluted share compared to $130.3 million or $1.22.
Joy Global Inc
) climbed 6.9% or $4 to $61.85 after the mining equipment maker said net sales in the second-quarter ending on May 2 plunged 32% to $929.7 million.
Net income in the quarter tumbled 59.2% to $73.9 million or 73 cents a diluted share compared to $181.6 million or $1.69.
Navistar International Corp
) gained 24 cents to $35.69 after the heavy machinery and vehicles maker said revenue in the second-quarter in April climbed 8.7% to $2.75 billion.
Net loss in the quarter narrowed to $297 million or $3.65 a diluted share compared to $374 million or $4.65.
) plunged 6.8% or $8.95 to $121.68 after the apparel company reported revenue in the first-quarter ending on May 4 jumped 4% to $1.96 billion.
Net in the quarter swung to profit $35.2 million or 42 cents a diluted share compared to a net loss of $10.3 million or 13 cents.
UTi Worldwide Inc
) slid 6 cents to $10.23 after the airfreight services provider stated revenue in the first-quarter ending in April slipped 3.3% to $1.04 billion.
Net loss in the quarter widened to $43.2 million or 43 cents a diluted share compared to $12.4 million or 12 cents.
Verint Systems Inc
) soared 10.3% or $4.78 to $51.37 after the software developer stated total revenue in the first-quarter ending in April climbed 25.7% to $257.4 million.
Net in the quarter swung to profit $28 million or 51 cents a diluted share compared to a net loss of $9.33 million or 18 cents.