11:45 AM New York – Adtran second quarter sales and net declined and Family Dollar sales jumped but net fell. Fastenal second quarter net jumped 7% to $121 million. Intuitive Surgical fell on lowered second quarter guidance. Tribune separates publishing and broadcasting business.
) decreased 0.6% to $419.60 after U.S. District Judge Denise Cote in Manhattan said that the company aided and abetted in setting higher prices for e-books with five publishers at the time of the launch of popular iPad tablet in 2009.
) dropped 3.7% or 93 cents to $24.28 after the communications network service provider said sales in the second quarter in June dropped 11.8% to $162.2 million. Net income in the quarter tumbled 53.2% to $9.86 million or 17 cents a diluted share compared to $21.07 million or 33 cents.
Family Dollar Stores, Inc.
) jumped 3.9% or $2.52 to $66.47 after the retail discount stores reported net sales in the third quarter ending on June 1 jumped 9% to $2.57 billion. Comparable store sales for the quarter increased 2.9%.
Net income in the quarter slid 3% to $120.9 million or $1.05 a diluted share compared to $124.5 million or $1.06.
The company added gross profit in the quarter advanced 6% to $892.5 million and operating profit declined 7% to $188.4 million.
For the fourth quarter, the company expects diluted earnings per share between 82 cents and 87 cents.
For the year, the company expects diluted earnings per share in the range of $3.77 to $3.82.
) slipped 2% or 94 cents to $46.18 after the industrial and construction supplier stated net sales in the second quarter ending in June advanced 5% to $847.6 million. Net earnings in the quarter jumped 7% to $121 million or 41 cents a diluted share compared to $112 million or 38 cents.
Helen of Troy Limited
) gained 1.3% or 55 cents to $42.55 after the consumer products maker reported net sales in the first quarter ending in May rose 1.4% to $304.5 million. Net income in the quarter declined 38.7% to $14.4 million or 45 cents a diluted share compared to $23.5 million or 74 cents.
Gross profit margin slid 39.5% from 40.4% for the same period last year.
For the year 2014, the company expects revenue in the range of $1.29 billion to $1.32 billion and diluted earnings per share between $3.13 and $3.23.
Intuitive Surgical, Inc
) rose 1% or $4.18 to $423.74 after the surgical equipment maker lowered if second quarter revenue guidance and now expects to report of $575 million from earlier estimate of $629.61 million. Net income for the quarter is expected at $160 million compared to $155 million for the second quarter of 2012.
MSC Industrial Direct Co., Inc
) slid 7 cents to $79.84 after the metalworking distributor said net sales in the first quarter ending on June 1 increased 4% to $636.9 million. Net income in the quarter slipped 13% to $62.4 million or 98 cents a diluted share compared to $70.2 million or $1.10.
For the fourth quarter, the company expects net sales between $661 million and $673 million and adjusted diluted earnings per share in the range of 87 cents to 91 cents.
Nabors Industries Ltd.
) declined 5.4% or 86 cents to $15.13 after the land drilling contractor expects second quarter operating results to fall below estimates mainly due to weak rig services sales and operating income to be in the range of $88 million to $91 million.
climbed 2% $1.25 to $62.95 after the media and entertainment conglomerate intends to spin-off its publishing business and broadcasting business into two separate companies.
Chicago Tribune and six other newspapers join the Tribune Publishing Co. and will be separated from WGN radio and TV broadcasting.
The Chicago Tribune, founded 166 years ago as a newspaper company and diversified to broadcasting in 1924. Revenue in 2012 slid 1% to $2 billion and broadcasting revenues jumped 4% to $1.14 billion.