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Market Update

U.S. Movers: American Eagle, AeroVironment, Big Lots, Fresh Market, VeriFone


Author: Mukesh Buch
ticker.com
Last Update: 11:53 AM ET March 06 2013

11:30 AM New York American Eagle fourth quarter net jumped 85% and Big Lots net rose 5%. AeroVironment third quarter net declined 33% and Fresh Market second quarter net climbed 13%. Seaspan net surged 151%. VeriFone first quarter net swung to $11.84 million profit.

American Eagle Outfitters, Inc (AEO) plunged 10.85 or $2.44 to $20.06 after the specialty retailer reported total revenues in the fourth quarter ending on February 2 climbed 9% to $1.12 billion from $1.03 billion in the same period of last year. Consolidated comparable sales for the quarter increased 4%.

Net income in the quarter jumped 85% to $94.8 million or 47 cents a diluted share compared to $51.3 million or 26 cents a share a year ago.

The retailer said comparable direct sales soared 24% and for the year jumped 25% to total sales of $467 million.

The company expects earnings per share for the fiscal first quarter to increase between 16 cents to 19 cents.

Big Lots, Inc (BIG) jumped 5.4% or $1.84 to $35.71 after the specialty retailer said net sales in the fourth quarter ending on February 2 grew 4.4% to $1.75 billion from $1.67 billion in the same period of last year. Comparable sales in the quarter dropped 3.5%.

Net income in the quarter rose 5% to $120.3 million or $2.09 a diluted share compared to $114.7 million or $1.75 a share a year ago period.

The company added net sales for Canada operations for the quarter totaled $48.6 million and net income of $0.2 million.

AeroVironment, Inc. (AVAV) tumbled 14.5% or $3.16 to $18.53 after the aerospace and defense products developer said revenue in the third quarter ending on January 26 dropped 35% to $47.1 million from $72 million in the same period of last year. Net income in the quarter declined 33% to $3.87 million or 17 cents a diluted share compared to $5.74 million or 26 cents a share a year ago earlier.

For the year, the company lowered its guidance in the range of $230 million to $250 million, and diluted earnings per share between 30 cents and 50 cents.

MGIC Investment Corporation (MTG) surged 14.2% or 76 cents to $6.10 after the holding company commenced public offering of 135 million shares of common stock and $350 million aggregate principal amount of convertible senior notes due 2020.

MFA Financial, Inc. (MFA) slid 9 cents to $9.09 and after the leveraged basis investment company said interest income in the fourth quarter ending in December edged up to $125 million from $124 million in the same period of last year. Net income in the quarter slid to $67.2 million or 19 cents a diluted share compared to $68.5 million or 19 cents a share a year ago earlier.

Seaspan Corporation (SSW) soared 5% or 99 cents to $20.67 after the Hong Kong based containerships operator stated revenue in the fourth quarter ending in December climbed 14% to $169.8 million from $156.1 million in the same period of last year. Net income in the quarter surged 151% to $58.98 million or 59 cents a diluted share compared to $23.52 million or 13 cents a share a year ago period.

The Fresh Market, Inc (TFM) declined 11.6% or $4.95 to $37.60 after the specialty retailer stated net sales in the second quarter ending on January 27 climbed 15.3% to $369.9 million from $320.8 million in the same period of last year. Comparable sales in the quarter gained 1.9%.

Net income in the quarter climbed 12.6% to $20.6 million or 43 cents a diluted share compared to $18.3 million or 38 cents a share a year ago period.

The retailer said gross profit for the quarter jumped 16.4% to $125.9 million and operating income for the quarter increased to $30.8 million from $29.3 million a year ago period.

For fiscal 2013, the company expects to increase comparable store sales 2% to 4% and diluted earnings per share to grow 14% to 19% or $1.51 to $1.58. The company anticipates opening a total 19 to 22 new stores in fiscal 2013.

VeriFone Systems, Inc. (PAY) surged 10.9% or $2.10 to $21.29 after the electronic payment service provider reported revenue in the first quarter ending in January grew 2.2% to $429 million from $420 million in the same period of last year. Net income in the quarter swung to $11.84 million or 11 cents a diluted share compared to net loss of $3.12 million or 3 cents a share a year ago.

The company added North America net revenues in the quarter climbed 11% and multi-lane retail net revenues jumped 11%.

Gross margin advanced 9.8% to $172 million and operating income slid 0.8% to $21.7 million.

VeriFone expects non-GAAP net revenues in the second quarter between $435 million and $450 million and non-GAAP earnings per diluted share in the range of 45 cents to 50 cents

For the year, VeriFone said non-GAAP net revenues between $1.80 billion and $1.83 billion and non-GAAP earnings per diluted share in the range of $1.90 to $2.10.

Walker & Dunlop, Inc. (WD) dropped 5.1% or $1.07 to $19.75 after the real estate financial service provider stated total revenue in the fourth quarter ending in December climbed 122% to $105.5 million from $47.6 million in the same period of last year. Net income in the quarter edged up to $11.54 million or 34 cents a diluted share compared to $11.01 million or 50 cents a share a year ago period.

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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