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Market Update

U.S. Movers: Agilent, Computer Sciences, Deere, Macy’s, Pinnacle Foods


Author: Mukesh Buch
ticker.com
Last Update: 11:20 AM ET May 15 2013

11:15 AM New York – Agilent Tech second quarter net plunged 35% and Computer Sciences fourth quarter net swung to $281 million profit. Deere net rose 2% above $1 billion and Macy’s first quarter net climbed 20% to $217 million and Pinnacle Foods surged 161%.

Agilent Technologies, Inc. (A) climbed 5.6% or $2.47 to $46.44 after the electronic measurements maker reported total revenues in the second quarter ending in April nearly flat to $1.73 billion. Net income in the quarter plunged 35% to $166 million or 48 cents a diluted share compared to $255 million or 72 cents.

For the third quarter, the Agilent expects revenues in the range of $1.63 billion to $1.66 billion and non-GAAP earnings per share between 60 cents and 64 cents.

For the full-year, the Agilent expects revenue between $6.75 billion to $6.85 billion and non-GAAP earnings per share in the range of $2.70 to $2.85.

Computer Sciences Corporation (CSC) declined 6.1% or $3.06 to $46.43 after the information technology company stated revenues in the fourth quarter ending on March 29 declined 7% to $3.70 billion. In the quarter, net income swung to $281 million or $1.81 a diluted share compared to net loss of $158 million or $1.02.

Revenue in the quarter from managed services sector segment fell 4.3% to $1.63 billion and revenue from the business solutions & services segment declined 12% to $796 million. North American public sector revenue dropped 6.8% to $1.31 billion.

Deere & Company (DE) dropped 4.9% or $4.64 to $89.10 after the agriculture and equipment maker said total revenues in the second quarter ending in April jumped 9% to $10.9 billion. Net income in the quarter increased 2% to $1.08 billion or $2.76 a diluted share compared to $1.06 billion or $2.61.

The company added operating profit soared 10% to $1.86 billion.

For the full year, the company anticipates net income to be nearly $3.3 billion and sales to increase about 5% for the year and about 3% for the third quarter compared to the same period of a year ago.

Eagle Materials Inc. (EXP) gained 2.2% or $1.63 to $73.64 after the cement maker stated revenues in the fourth quarter ending in March jumped 36% to $159.1 million. Net earnings in the quarter slipped 13% to $7.83 million or 16 cents a diluted share compared to $9 million or 20 cents.
Gross profit for the quarter advanced 11% to $16.6 million and operating earnings plunged 69% to $2.3 million.

Macy’s, Inc. (M) rose 1.7% or 80 cents to $48.19 after the retailer reported sales in the first quarter ending on May 4 increased 4% to $6.39 billion. Comparable sales for the quarter jumped to 3.8%

Net income in the quarter climbed 20% to $217 million or 5 cents a diluted share compared to $181 million or 43 cents.

For the quarter, gross margin increased 4% to $2.48 billion and operating income climbed 11% to $435 million.

Pinnacle Foods Inc. (PF) climbed 3.4% or 83 cents to $24.87 after the food products distributor said total revenue in the first quarter ending in March edged down 0.6% to $613 million. Net earnings in the quarter surged 161% to $24.8 million or 29 cents a diluted share compared to $9.5 million or 11 cents.

For the year, the company expects diluted earnings per share in the range of $1.49 to $1.55.

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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