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Market Update

U.S. Movers: Bank of Nova Scotia, DSW, Donaldson, Standex, Tiffany


Author: Mukesh Buch
ticker.com
Last Update: 11:24 AM ET August 27 2013

11:30 AM New York Bank of Nova Scotia net declined 15%. DSW profit surged 15%. Donaldson net grew 2% and Sanderson Farms net soared 137%. Tiffany profit jumped 16% to $106.8 million.

The Bank of Nova Scotia (BNS) slipped 1.2% or 66 cents to $58.03 after the financial institution said total revenue in the fourth-quarter ending in June nearly flat at $5.52 billion. Net income in the quarter declined 15.4% to $1.65 billion or $1.37 a diluted share compared to $1.95 billion or $1.69.

DSW Inc. (DSW) soared 7.9% or $6.47 to $87.79 after the specialty retailer stated sales in the second-quarter ending on August 3 jumped 9.7% to $562 million. Comparable sales in the quarter climbed 4.4%.

Net income in the quarter surged 15% to $33.7 million or 73 cents a diluted share compared to $29.3 million or 65 cents.

The company lifted its earnings outlook for the year and expects between $3.60 and $3.80 per share compared to earlier range of $3.40 to $3.60 per share and revenue to increase 5% to 7%.

Donaldson Company, Inc. (DCI) slid 22 cents to $36.69 after the filtration systems maker reported net sales in the fourth-quarter ending in July dropped 4% to $633 million. Net earnings in the quarter grew 2% to $73 million or 48 cents a diluted share compared to $71 million or 47 cents.

The company added operating income rose 1% to $100 million.

For the year, the company expects sales between $2.45 billion and $2.55 billion or an increase 1% to 5% and diluted earnings per share in the range of $1.65 to $ 1.85.

Movado Group, Inc. (MOV) surged 8.8% or $3.34 to $41.26 after the watches distributor said net sales in the second-quarter ending in July climbed 17% to $138.3 million. Net income in the quarter surged 54% to $12.5 million or 48 cents a diluted share compared to $8.1 million or 32 cents.

Regis Corporation (RGS) dropped 3.5% or 60 cents to $16.56 after the retailer stated net sales in the fourth-quarter ending in June slipped 5% to $502.3 million. Comparable store sales in the quarter decreased 3.1%.

Net in the quarter swung a profit $0.68 million or 1 cent a diluted share compared to a loss of $63.6 million or $1.11.

Sanderson Farms, Inc. (SAFM) declined 5.7% or $3.90 to $65.93 after the food processing company reported net sales in the third-quarter ending in July climbed 8% to $739 million. Net income in the quarter soared 137% to $67.9 million or $2.95 a diluted share compared to $28.7 million or $1.25.

The company added operating income in the quarter surged 113% to $104.4 million.

Standex International Corporation (SXI) slumped 2.9% or $1.75 to $56.96 after the industrial products maker stated net sales in the fourth-quarter ending in June climbed 8% to $183.3 million. Net income in the quarter rose 4% to $14.5 million or 99 cents a diluted share compared to $13.9 million or $1.12.

Tiffany & Co. (TIF) rose 2 cents to $81.69 after the jewelry retailer reported net sales in the second-quarter ending in July rose 4% to $925.9 million. Comparable sales in the quarter jumped 5%.

Net earnings in the quarter soared 16% to $106.8 million or 83 cents a diluted share compared to $91.8 million or 72 cents.

For the year, the company lifted forecasts for the net earnings per diluted share in a range of $3.50 to $3.60 from previous outlook of $3.43 to $3.53 a share.

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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