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Market Update

Hurco, Men's Wearhouse, VeriFone, Vail Resorts Jump; Hertz, Thor Drop


Author: Mukesh Buch
ticker.com
Last Update: 12:20 PM ET June 06 2014

12:15 PM New York Ė Cooper net jumped 5%. Hertz restated financial results for the past three years. Men''s Wearhouse net tumbled 50%.Piedmont Natural Gas net climbed 12%. Thor profit surged 26%. VeriFone climbed after net loss narrowed as revenue jumped. Vail Resorts net soared 21%.

The Cooper Companies, Inc (COO) rose 89 cents to $132 after the medical devices maker said revenue in the second-quarter ending in April increased 9% to $412.3 million.

Net income in the quarter jumped 5.4% to $79.2 million or $1.62 a diluted share compared to $75.1 million or $1.52.

Hertz Global Holdings, Inc (HTZ) plunged 9.7% or $2.95 to $27.54 after the car rental service operator reported it will restate financial results for the past three years to fix errors.

Hertz reviewed and identified additional errors related to allowances for uncollectible amounts in respect to renter obligations for damaged vehicles and restoration at the end of leases.

Hurco Companies, Inc (HURC) climbed 3.9% or $1.09 to $29.28 after the testing and measuring equipment maker said revenue in the second-quarter ending in April jumped 8% to $53.7 million.

Net income in the quarter gained 9% to $3.54 million or 54 cents a diluted share compared to $3.18 million or 48 cents.

The Men''s Wearhouse, Inc (MW) surged 6.6% or $3.38 to $54.73 after the menís apparel retailer reported total sales in the first-quarter ending onMay 3 rose 2.3% to $630.5 million. Comparable sales in the quarter increased 2.9% and Moores'' Canadian brand comparable sales soared 6%.

Net income in the quarter tumbled 50.1% to $16.5 million or 34 cents a diluted share compared to $33.1 million or 65 cents.

Piedmont Natural Gas Company, Inc (PNY) gained 1.2% or 45 cents to $36.68 after the energy services provider stated revenue in the second-quarter ending in April soared 16% to $462.2 million.

Net income in the quarter climbed 12% to $62.5 million or 80 cents a diluted share compared to $55.8 million or 74 cents.

Thor Industries, Inc. (THO) dropped 3.8% or $2.36 to $59.05 after the recreation vehicles maker said net sales in the third-quarter ending in April climbed 12.9% to $1.05 billion.

Net income in the quarter surged 25.8% to $55.1 million or $1.03 a diluted share compared to $43.8 million or 82 cents.

VeriFone Systems Inc (PAY) soared 7.9% or $2.68 to $36.50 after the electronic payment solution provider reported revenue in the second-quarter ending in April jumped 9% to $466.4 million.

Net loss in the quarter narrowed to $23.9 million or 22 cents a diluted share compared to $58.4 million or 54 cents.

Vail Resorts, Inc (MTN) jumped 5.3% or $3.84 to $75.84 after the ski resorts operator said total revenue in the third-quarter ending in April surged 15.6% to $543 million.

Net income in the quarter climbed 20.8% to $117.9 million or $3.18 a diluted share compared to $97.6 million or $2.66.

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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