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Market Update

U.S. Movers: Alcoa, GenCorp, NYSE Euronext, Kroger, WD-40


Author: Mukesh Buch
ticker.com
Last Update: 12:04 PM ET July 09 2013

11:55 AM New York Alcoa second quarter loss widen to $119 million. GenCorp and Hi-Tech Pharmacal quarterly net swung to a loss. NYSE Euronext appointed as the new administrator for Libor. Kroger agreed to acquire Harris Teeter Supermarkets for $2.44 billion. Wolverine World second quarter net slipped.

Alcoa Inc. (AA) slid 2 cents to $7.90 after the aluminum producer reported revenue in the second quarter in June slid 1.8% to $5.15 billion. Net loss in the quarter widened $119 million or 11 cents a diluted share compared to $2 million or break even cents.

GenCorp Inc. (GY) gained 1.2% or 21 cents to $17.09 after the aerospace and defense products maker reported net sales in the second quarter in May jumped 14.7% to $286.6 million. Net in the quarter swung to a loss of $11.8 million or 20 cents a diluted share compared to net income of $1.7 million or 3 cents.

Hi-Tech Pharmacal Co, Inc (HITK) fell 14 cents to $33.39 after the healthcare products maker said net sales in the fourth quarter in April dropped 5% to $58.5 million. Net in the quarter swung to a loss of $4.62 million or 34 cents a diluted share compared to net income of $10 million or 73 cents.

The company said net sales of generic pharmaceutical products for the quarter slipped 7% to $48.9 million and sales for the health care products division declined 7% to $4.91 million. The company added sales for ECR pharmaceuticals surged 40% to $4.65 million.

NYSE Euronext (NYX) fell 1 cent to $41.26 after the trading platform provider appointed as the new administrator for London Inter-bank Offered Rate. UK regulator appointed a commission that recommended the transfer from the British Bankers Association.

The Kroger Co (KR) jumped 2.6% or 94 cents to $37.13 after the food processing company agreed to acquire Harris Teeter Supermarkets Inc. for about $2.44 billion in cash. Kroger will pay $49.38 a share.

Wolverine World Wide, Inc. (WWW) climbed 3% or $1.66 to $56.93 after the footwear and apparel maker revenue in the second quarter on June 15 soared 88% to $587.8 million. Net earnings in the quarter slipped $17.9 million or 36 cents a diluted share compared to $20.5 million or 42 cents.

Gross margin for the quarter increased 320 basis points to a record 41%.

WD-40 Company (WDFC) soared 5.3% or $3.05 to $60.70 after the consumer products maintenance provider reported net sales in the third quarter ending in May climbed 7% to $93.1 million. Net income in the quarter surged 12% to $10.3 million or 66 cents a diluted share compared to $9.14 million or 57 cents.

Sales in the America segment for the quarter increased 8% to $47.6 million and Europe segment sales jumped 8% to $32.5 million. Asia-Pacific sales remained flat at $13 million.

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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