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Market Update

U.S. Movers: Acuity Brands, ConAgra, Connís, Global Payments, Monsanto


Author: Mukesh Buch
ticker.com
Last Update: 11:17 AM ET April 03 2013

11:10 AM New York Ė Acuity Brands second quarter net surged 27% and ConAgra third quarter net declined 56% to $123.4 million. Connís fourth quarter net surged 130% and Monsanto second quarter net soared 22% to $1.48 billion.]

Acuity Brands, Inc. (AYI) soared 7.3% or $4.99 to $73.24 after the lighting solution provider said revenue in the second quarter ending on February 28 jumped 6% to $486.7 million. Net income in the quarter surged 27% to $24.7 million or 57 cents a diluted share compared to $19.5 million or 46 cents.

ConAgra Foods, Inc. (CAG) fell 13 cents to $35.41 after the packaged food company stated revenue in the third quarter ending on February 24 climbed 13.4% to $3.85 billion. Net income in the quarter declined 56% to $123.4 million or 29 cents a diluted share compared to $280.7 million or 67 cents.

The consumer foods segment posted sales jumped 7% to $2.30 billion and operating profit declined $284 million from $331 million in the year ago period. Sales for the commercial foods segment rose 1% to $1.26 billion

The ConAgra said businesses in the fiscal third quarter of Ralcorp contributed total of $292 million in sales and $5 million of operating profit.

The company reaffirms expectations for fiscal 2013 diluted earnings per share to be nearly $2.15.

Connís, Inc. (CONN) surged 10.4% or $3.77 to $39.85 after the consumer products retailer reported revenue in the fourth quarter ending in January soared 10.4% to $250.3 million. Same store sales in the quarter climbed 7%.

Net income in the quarter surged 130% to $17.7 million or 50 cents a diluted share compared to $7.7 million or 24 cents.

The retailer lifted earnings guidance for the fiscal year to adjusted diluted earnings per share of $2.40 to $2.50 and same stores sales to grow in the range of 3% to 8%.

G-III Apparel Group, Ltd. (GIII) dropped 4% or $1.60 to $37.74 after the apparel retailer reported net sales in the fourth quarter ending in January surged 28% to $375.3 million. Net income in the quarter jumped 61% to $8.07 million or 40 cents a diluted share compared to $5.02 million or 25 cents.

For the year 2014, apparel retailer expects net sales nearly $1.55 billion and net income between $64.3 million and $66.4 million and diluted earnings per share in the range of $3.10 to $3.20.

The retailer expects for the first quarter net sales approx $270 million and net loss between $0.60 million and $1.5 million and diluted earnings per share in the range of 3 cents to 7 cents.

Global Payments Inc (GPN) declined 6.5% or $3.19 to $45.82 after the financial service provider stated revenue in the third quarter ending on February 28 surged 8% to $578.7 million. Net income in the quarter increased 1% to $58.5 million or 75 cents a diluted share compared to $57.9 million or 73 cents.

The company added operating income in the quarter decreased 2% to $90.8 million.

For the year, company expects revenue between $2.36 billion and $2.40 billion and diluted earnings per share in the range of $3.64 to $3.71.

Monsanto Company (MON) gained 1.5% or $1.56 to $105.11 after the agricultural products provider total net sales in the second quarter ending on February 28 climbed 15.2% to $5.47 billion. Net income in the quarter soared 22.3% to $1.48 billion or $2.74 a diluted share compared to $1.21 billion or $2.24.

Sales in the seeds and genomics segment for the second quarter were $4.3 billion and agricultural productivity segment increased $302 million.

The company lifted earnings per share expectation for the full year in the range of $4.42 to $4.52 per share.

Oxford Industries, Inc. (OXM) climbed 4.7% or $2.47 to $54.52 after the apparel company said net sales in the fourth quarter ending on February 2 climbed 18% to $236.2 million. Net earnings in the quarter plunged 25% to $5.28 million or 32 cents a diluted share compared to $7.05 million or 43 cents.

Resources Connection, Inc. (RECN) slipped 2.6% or 32 cents to $12 after the business service provider reported revenue in the third quarter ending on February 23 decreased 2% to $138 million. Net income in the quarter advanced 5% to $4.5 million or 11 cents a diluted share compared to $4.3 million or 10 cents.

Team, Inc. (TISI) declined 6.5% or $2.62 to $37.27 after the business service provider stated net sales in the third quarter ending on February 28 surged 10% to $151 million. In the quarter net loss swung to $0.54 million or 3 cents a diluted share compared to net income of $2.01 million or 10 cents.

For the year, the Team expects revenue in the range of $705 million to $720 million and diluted earnings per share between $1.70 and $1.85.

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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