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Market Update

U.S. Movers: AutoZone, Applied Materials, Clovis, Carnival, Stryker


Author: Mukesh Buch
ticker.com
Last Update: 11:38 AM ET September 25 2013

11:45 AM New York AutoZone net surged. Ascena Retail surged after profit climbed on higher sales. The merger between Applied Materials and Tokyo Electron will create the largest chipmaker with $29 billion in sales. Clovis plunged. Carnival net plunged 30%. Stryker agreed to acquire MAKO Surgical for $1.65 billion.

AutoZone, Inc. (AZO) rose $1.51 to $415.82 the retailer said total revenue in the fourth-quarter ending in August climbed 12% to $3.1 billion. Domestic same store sales in the quarter increased 1%.

Net income in the quarter surged 15% to $371.2 million or diluted earnings $10.42 per share compared to $323.7 million per share or $8.46 per share.

Ascena Retail Group, Inc. (ASNA) surged 15.2% or $2.64 to $19.95 after the specialty apparel retailer reported total revenue in the fourth-quarter ending on July 27 soared 27% to $1.20 billion. Total comparable sales in the quarter jumped 4%.

Net income in the quarter climbed to $29.8 million or diluted earnings 18 cents per share compared to $1.6 million per share or 1 cent per share.

The retailer expects adjusted earnings per diluted share from continuing operations for the fiscal 2014 is in the range of $1.25 to $1.30.

Applied Materials, Inc (AMAT) gained 1.8% or 31 cents to $17.75 after the semiconductor maker agreed to acquire Japan-based Tokyo Electron Limited in a deal valued $9.3 billion or $7 billion after adjusting for cash held.

The companies expect the transaction to close in mid to second half of 2014.

Clovis Oncology, Inc. ((CLVS plunged 13.5% or $9.94 to $63.58 after the biopharmaceutical company is looking to sell itself. The cancer treatment drugs developer also tapped Credit Suisse AG and J.P. Morgan to help to find the buyer.

Carnival Corporation (CCL) declined 5.1% or $1.76 to $32.78 after the cruise operator said total revenue in the third-quarter ending in August barely rose 1% to $4.73 billion. Net income in the quarter plunged 29.8% to $934 million or diluted earnings $1.20 per share compared to $1.33 billion per share or $1.71 per share.

For the year, the company expects non-GAAP diluted earnings per share between $1.51 and $1.57.

Stryker Corporation (SYK) dropped 2.6% or $1.83 to $69 after the medical technology agreed to acquire MAKO Surgical Corp. at a rate of $30 per share or in total consideration of $1.65 billion.

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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