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Market Update

U.S. Movers: CAE, Macy’s, MBIA, Pinnacle Foods, Starbucks, Sina


Author: Mukesh Buch
ticker.com
Last Update: 10:52 AM ET November 13 2013

10:40 AM New York – CAE net jumped 6%. Macy’s comparable sales rose 4%. MBIA revenues soared 50%. Pinnacle Foods soared. Starbucks was ordered to pay $2.76 billion to Kraft to settle a dispute to distribute coffee in grocery store. Sina surged after net climbed 156%.

The Babcock & Wilcox Company (BWC) dropped 4.1% or $1.28 to $30.21 the nuclear components service provider reported total revenues in the third-quarter ending in September fell 4% to $774.8 million. Net income in the quarter climbed 18% to $60.4 million or 54 cents a diluted share compared to $51.4 million or 43 cents.

CAE Inc. (CAE) slumped 3% or 35 cents to $11.15 after the aircraft parts maker stated revenue in the second-quarter ending in September dropped 3.7% to $487.5 million. Net income in the quarter jumped 6.4% to $38.2 million or 15 cents a diluted share compared to $35.9 million or 14 cents.

Health Management Associates, Inc. (HMA) climbed 5.1% or 64 cents to $13.175 after the health care company said net revenues in the third-quarter ending in September grew 1.3% to $1.42 billion. Net in the quarter swung to a loss $96.6 million or 37 cents a diluted share compared to a profit of $40.9 million or 16 cents.

Macy’s, Inc. (M) soared 8.3% or $3.67 to $50.10 after the retailer reported total sales in the third-quarter ending in September grew 3% to $6.28 billion. Comparable store sales in the quarter rose 3.5%.

Net income in the quarter soared 22% to $177 million or 47 cents a diluted share compared to $145 million or 36 cents.

MBIA Inc. (MBI) gained 1.9% or 14 cents to $11.80 after the insurance company stated total revenue in the third-quarter ending in September soared 49.5% to $420 million. Net income in the quarter climbed to $132 million or 67 cents a diluted share compared to $7 million or 4 cents.

Pinnacle Foods Inc (PF) rose 16 cents to $27.13 after the frozen foods manufacturer reported net sales in the third-quarter ending in September rose 0.8% to $572.5 million. Net earnings in the quarter surged to $40.7 million or 35 cents a diluted share compared to $9.9 million or 11 cents.

Pegasystems Inc. (PEGA) surged 12.9% or $5.27 to $46.17 after the software developer said net revenues in the third-quarter ending in September jumped 20% to $122.2 million. Net in the quarter swung to a profit $8.7 million or 22 cents a diluted share compared to a loss of $0.3 million or 1 cent.

Starbucks Corporation (SBUX) slid 6 cents to $80.58 after the coffee chain was ordered by an independent arbitrator that Starbucks to pay $2.23 billion that Kraft is entitled for the damages plus $527 million in pre-judgment interest and attorneys'' fees.

US coffee chain said it ""strongly disagreed"" with the conclusions as Kraft had not done what was mandated according to the contract.

Any payment from Starbucks will go to Mondelez International which was separated from Kraft Foods in 2012.

Sina Corporation (SINA) surged 11.1% or $8.43 to $84.39 after the online media company reported net revenues in the third-quarter ending in September climbed 21% to $184.6 million. Net income in the quarter climbed 156% to $25.4 million or 37 cents a diluted share compared to $9.9 million or 14 cents.

Stillwater Mining Company (SWC) gained 9 cents to $11.01 after the mining company stated net revenues in the third-quarter ending in September surged 55% to $280 million. Net in the quarter swung to a loss $201.3 million or $1.69 a diluted share compared to a profit of $13.5 million or 11 cents.

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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