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Market Update

U.S. Movers: Crocs, Five Below, HD Supply, PVH, Neurocrine, Twitter


Author: Mukesh Buch
ticker.com
Last Update: 12:06 PM ET September 10 2013

12:00 PM New York Crocs lowered its third quarter revenue outlook. Five Below surged after net swung to profit as sales soared 35%. HD Supply plunged after quarterly net loss widened. PVH net swung to a loss of $16 million but revenue climbed 47%. Twitter buys MoPub for $300 million.

Crocs, Inc (CROX) dropped 3.6% or 49 cents to $13.12 after the footwear and accessory designer lowered its third quarter revenue outlook and now expects between $285 million and $295 million and diluted earnings per share in the range of 15 cents to 18 cents.

On July 24, the company estimated revenue in the range of $300 million to $310 million and diluted earnings per share between 20 cents and 23 cents.

Five Below, Inc (FIVE) surged 17.9% or $7.34 to $48.38 after the department stores operator said net sales in the second-quarter ending in July surged 35% to $117.1 million. Comparable store sales in the quarter climbed 6.6%.

Net in the quarter swung a profit $4.1 million or 32 cents a diluted share compared to a loss of $64.2 million or $3.41.

HD Supply Holdings, Inc. (HDS) tumbled 12.7% or $3.16 to $21.59 after the industrial distributor reported net sales in the second-quarter ending in July jumped 9.7% to $2.26 million. Net loss in the quarter widened to $75 million or 47 cents a diluted share compared to $59 million or 43 cents.

Limoneira Company (LMNR) slid 9 cents to $22.50 after the agribusiness company agreed to acquire Associated Citrus Packers Inc. for $18.6 million and reported revenue in the thirds-quarter ending in July jumped 21% to $29.9 million. Net income in the quarter rose $6.54 million or 49 cents a diluted share compared to $5.02 million or 45 cents.

Neurocrine Biosciences, Inc (NBIX) plunged 28.8% or $4.81 to $11.90 after the healthcare company said lower dose of its experimental drug NBI-98854 did not meet and did not match with mid-stage clinical study.

PVH Corporation (PVH) declined 6.2% or $8.21 to $123.90 after the apparel & accessory maker reported total revenue in the second-quarter ending on August 4 climbed 47% to $1.97 billion.

Comparable store sales at Calvin Klein brand and Tommy Hilfiger in North America in the quarter jumped 6% and 7% respectively and international sales of Tommy Hilfiger soared 11% but international sales of Calvin Klein brand slid 1%.

Net in the quarter swung a loss $16 million or 20 cents a diluted share compared to a net income of $89.9 million or $1.22.

Twitter Inc., the social network agreed to acquire a mobile advertising company MoPub Inc. for $300 million according to media reports that cited company blog.

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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