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Market Update

U.S. Movers: Archer-Daniels, CarMax, Dell, Darden Restaurants, Oracle


Author: Mukesh Buch
ticker.com
Last Update: 11:20 AM ET June 21 2013

11:15 AM New York Archer-Daniels confirmed that it is in talks to sell its cocoa business. CarMax first quarter sales and net climbed. Michael Dell defended leveraged buyout of the computer company he founded. Darden Restaurants sales surged 59% but profit plunged 67%. Oracle net climbed 10% to $3.9 billion.

American Software, Inc. (AMSWA) rose 0.3% or 3 cents to $8.34 after the software company reported total revenue in the fourth quarter ending on April 30 tumbled 10% to $25.2 million. Net earnings in the quarter plunged 12% to $3.07 million or 11 cents a diluted share compared to $3.48 million or 13 cents.

Archer-Daniels-Midland-Company (ADM) climbed 2.1% or 68 cents to $33.29 after the food processing company said the company in talk about the potential sale of cocoa business with annual revenue of $3.7 billion.

CarMax, Inc. (KMX) slipped 1.3% or 57 cents to $44.06 after the used vehicles retailers said net sales in the first quarter ending in May climbed 18% to $3.3 billion. Net earnings in the quarter jumped 22% to $146.7 million or 64 cents a diluted share compared to $120.7 million or 52 cents.

Gross profit in the quarter jumped 14% to $448.1 million.

Dell, Inc. (DELL) slid 1 cent to $13.36 after the pc maker founder Michael Dell defended capital restructure of the company and called on the investors to vote in favor of his buyout offer before the shareholder meeting scheduled next month.

Darden Restaurants, Inc. (DRI) dropped 2.7% or $1.39 to $49.84 after the restaurant operator reported sales in the fourth quarter ending on May 26 surged 59% to $3.30 billion. Net earnings in the quarter plunged 67% to $133.2 million or $1.01 a diluted share compared to $151.2 million or $1.15.

Oracle Corporation (ORCL) declined 8.6% or $2.86 to $30.35 after the database software developer said revenues in the fourth quarter ending in May were flat at $10.9 billion. Net income in the quarter climbed 10% to $3.9 billion or 80 cents a diluted share compared to $3.6 billion or 69 cents.

The company added operating income jumped 9% to $5 billion, and operating margin soared 46%.

TIBCO Software Inc. (TIBX) fell 1 cent to $21 after the middleware and infrastructure software developer said total revenue in the second quarter ending on June 2 fell 0.6% to $245.8 million. Net income in the quarter plunged 67% to $8.7 million or 5 cents a diluted share compared to $26.5 million or 16 cents.

Gross profit in the quarter declined 4% to $171.9 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