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Market Update

U.S. Movers: Alliant Tech, Connís, Calavo, Jos. A. Bank, Nordion


Author: Mukesh Buch
ticker.com
Last Update: 12:53 PM ET September 05 2013

12:40 PM New York Ė Alliant Techsystems agreed to acquire Bushnell Group for $985 million in cash. Connís net plunged 18% and Calavo Growers profit jumped 13%. Jos. A. Bank net declined 39% and comparable sales plunged 15.9%. Nordion net surged $180.4 million.

Alliant Techsystems Inc. (ATK) gained 1.2% or $1.15 to $98.36 after the ammunition maker agreed to acquire Bushnell Group Holdings, Inc., for $985 million in cash. Bushnell is a designer and distributor of branded sports optics, outdoor accessories and eyewear.

The transaction is expected to close in the third or fourth quarter of fiscal 2014.

Connís, Inc. (CONN) plunged 8.6% or $5.89 to $62.42 after the specialty retailer reported net sales in the second-quarter ending on August 3 surged 31% to $270.7 million. Comparable store sales in the quarter decreased 2.2%.

Net income in the quarter plunged 18% to $19.2 million or 52 cents a diluted share compared to $7.6 million or 35 cents.

For the year, the company expects diluted earnings per share in the range of $2.50 to $2.65.

Calavo Growers, Inc. (CVGW) climbed 6.6% or $1.66 to $26.80 after the fresh food provider said revenue in the third-quarter ending in July soared 27% to $194.9 million. Net income in the quarter jumped 13% to $6.4 million or 43 cents a diluted share compared to $5.7 million or 38 cents.

The Descartes Systems Group Inc (DSGX) jumped 4% or 43 cents to $11.20 after the network and logistics technology provider reported revenue in the second-quarter ending in July climbed 25% to $38.2 million. Net income in the quarter plunged 32% to $1.7 million or 3 cents a diluted share compared to $2.5 million or 4 cents.

Services revenues in the quarter jumped 21% to $35.5 million

Jos. A. Bank Clothiers, Inc. (JOSB) surged 6.7% or $2.68 to $42.70 after the apparel retailer said net sales ending on August 3 dropped 10.7% to $232.5 million. Comparable store sales in the quarter plunged 15.9% and direct marketing sales in the second-quarter decreased 1.9%.

Net income in the quarter declined 38.8% to $14.2 million or 51 cents a diluted share compared to $23.2 million or 83 cents.

Combined comparable store and internet sales for the second quarter plummeted 15.5%.

Nordion Inc. (NDZ) gained 1.8% or 14 cents to $7.99 after the healthcare company reported revenue in the third-quarter ending in July jumped 7% to $71.7 million. Net income in the quarter surged to $180.4 million or $2.91 a diluted share compared to $12.3 million or 20 cents.

Titan Machinery Inc. (TITN) slid 2 cents to $17.10 after the agricultural and construction equipment provider stated revenue in the second-quarter ending in July climbed 19% to $488.2 million. Net income in the quarter dropped 18% to $3.8 million or 18 cents a diluted share compared to $5.2 million or 25 cents.

Equipment sales for the quarter jumped $358.4 million from $306.2 million and revenue from the parts segment $70.6 million compared to $57.9 million in the second-quarter last year. Revenue from rental and other increased to $19.3 million and revenue from service segment grew $39.9 million.

Gross profit for the second quarter of fiscal 2014 was $83.5 million, compared to $70.4 million a year ago.

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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