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Market Update

U.S. Movers: A. O. Smith, Gannett, Halliburton, McDonald's, V.F. Corp


Author: Mukesh Buch
ticker.com
Last Update: 3:01 AM ET October 21 2013

12:25 PM New York A. O. Smith net soared 25% after sales jumped 16%. Gannett net plunged 40%. Halliburton net climbed 17% as revenue rose. McDonald's net jumped 5%. Tellabs agreed to acquire by Marlin Equity for $891 Million. V.F. Corp net soared 14%.

A. O. Smith Corporation (AOS) climbed 5.5% or $2.60 to $49.35 after the water heater maker reported net sales in the third-quarter ending in September jumped 16% to $536.2 million. Net earnings in the quarter soared 25% to $46.2 million or 50 cents a diluted share compared to $37 million or 40 cents.

Sales for the North America segment in the quarter jumped 10% to $370.1 million and sales for the rest of the world segment surged 31% to $175.2 million.

The company expects earnings per share for the year between $1.78 and $1.82.

Gannett Co. (GCI) plunged 7.2% or $1.99 to $25.50 after the advertising and media group stated total revenues in the third-quarter ending on September 29 slipped 4% to $1.25 billion. Net income in the quarter plunged 40% to $79.7 million or 34 cents a diluted share compared to $133 million or 56 cents.

Halliburton Company (HAL) slumped 2% or $1.03 to $51.43 after the oilfield services provider said total revenues in the third-quarter ending in September advanced 5% to $7.47 billion. Net income in the quarter climbed 16.3% to $707 million or 79 cents a diluted share compared to $608 million or 65 cents.

Hasbro, Inc. (HAS) soared 6.6% or $3.10 to $50.39 after the entertainment products provider net revenue in the third-quarter ending on September 29 grew 2% to $1.37 billion. Net income in the quarter surged 17% to $193 million or $1.46 a diluted share compared to $164.9 million or $1.24.

McDonald's Corporation (MCD) slipped 59 cents to $94.61 after the fast food restaurants operator reported revenue in the third-quarter ending in September rose 2% to $7.32 billion. Global comparable sales increased 0.9%.

Net income in the quarter jumped 5% to $1.52 billion or $1.52 a diluted share compared to $1.46 billion or $1.43.

For the quarter, McDonald's said comparable sales from Europe rose 0.2% and operating income increased 11%. Comparable sales for the quarter in Asia/Pacific, Middle East and Africa declined 1.4% and operating income declined 12%.

Manpowergroup Inc (MAN) dropped 1.7% or $1.32 to $77.99 after the workforce solution provider revenue in the third-quarter ending in September inched up 0.3% to $5.19 billion. Net income in the quarter surged 49.8% to $94.7 million or $1.18 a diluted share compared to $63.1 million or 79 cents.

The company anticipates diluted earnings per share in the fourth quarter to be in the range of $1.18 to $1.26.

Tellabs Inc. (TLAB) jumped 5.1% or 12 cents to $2.47 after the private-equity group Marlin Equity Partners agreed to be acquired communications-service provider for about $891 million.

V.F. Corporation (VFC) advanced 4% or $8.18 to $212.48 after the apparel company reported net revenue in the third-quarter ending in September rose 5% to $3.3 billion. Net income in the quarter soared 14% to $433.8 million or $3.89 a diluted share compared to $381.3 million or $3.42.

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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