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Market Update

U.S. Movers: Aeropostale, Cvent, FactSet Research, Outerwall

Author: Mukesh Buch
Last Update: 8:12 AM ET September 17 2013

11:40 AM New York Aeropostale surged after activist investor increased its stake of 8%. Cvent said quarterly net swung to a loss but revenues climbed 36%. FactSet Research net climbed 28% to $51 million. Outerwall plummeted after the company lowered its third quarter outlook.

Aeropostale, Inc. (ARO) surged 17.7% or $1.52 to $10.13 after an activist investor Hummingbird LLC increased its stake to 8% in the specialty retailer and bought 6,250,000 shares.

Cvent, Inc plunged 13.4% or $6.05 to $39.02 after the cloud-based event management provider reported revenue in the second-quarter ending in June climbed 36% to $26.9 million. Net in the quarter swung to a loss $2.3 million or 7 cents compared to a net income of $0.5 million or 1 cent.

FactSet Research Systems Inc. (FDS) declined 3.6% or $4.06 to $108.19 after the financial information provider said revenues in the fourth-quarter ending in August jumped 6% to $219.3 million. Net income in the quarter climbed 27.6% to $51 million or $1.16 a diluted share compared to $48.5 million or $1.08.

Outerwall Inc, formerly Coinstar, Inc. (OUTR) plummeted 13.1% or $7.32 to $48.75 after the automated retail solution provider lowered its revenue forecast for third-quarter in the range of $569 million to $589 million and earnings per share between 82 cents and 94 cents from the earlier guidance of $1.36 to $1.51 a share.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc