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Market Update

U.S. Movers: Finisar, Hurco, Mattress Firm, VeriFone, UTi Worldwide


Author: Mukesh Buch
ticker.com
Last Update: 11:58 AM ET September 06 2013

11:55 AM New York Finisar net surged as revenue jumped 21%. Hurco sales dropped 10% and profit tumbled 78%. Mattress Firm profit jumped 5% and Piedmont Natural Gas net loss narrowed 50%. Smithfield Foods net plunged 36% but sales climbed 10%. VeriFone net swung to a loss.

Finisar Corporation (FNSR) jumped 3.4% or 78 cents to $23.62 after the optic fiber network provider reported revenues in the first-quarter ending on July 28 jumped 20.7% to $266.1 million. Net income in the quarter surged to $26.01 million or 26 cents a diluted share compared to $3.88 million or 4 cents.

Hurco Companies, Inc. (HURC) dropped 3.3% or 94 cents to $27.50 after the measuring equipment maker said total sales in the third-quarter ending on July 28 dropped 10% to $45.1 million. Net income in the quarter tumbled 78.5% to $854,000 or 13 cents a diluted share compared to $3.96 million or 61 cents.

Mattress Firm Holding Corp. (MFRM) plunged 16.1% or $6.71 to $34.98 after the mattresses retailer stated net sales in the second-quarter ending in July soared 15.5% to $302.5 million. Net income in the quarter jumped 4.7% to $14.1 million or 41 cents a diluted share compared to $10 million or 30 cents.

Piedmont Natural Gas Company, Inc. (PNY) gained 24 cents to $32.20 after the energy company reported revenues in the second-quarter ending in July rose 1% to $162.9 million. Net loss in the quarter narrowed 50% to $2.3 million or 3 cents a diluted share compared to $4.6 million or 6 cents.

Smithfield Foods, Inc. (SFD) slid 3 cents to $33.92 after the fresh and packaged meat producer said sale in the first-quarter ending in July climbed 10% to $3.4 billion. Net income in the quarter plunged 36% to $39.5 million or 27 cents a diluted share compared to $61.7 million or 40 cents.

VeriFone Systems, Inc. (PAY) surged 10.9% or $2.26 to $22.98 after the electronic payment solution provider reported net revenues in the third-quarter ending in July declined 15% to $416 million. Net in the quarter swung to a loss $1.9 million or 2 cents a diluted share compared to a net income of $37.7 million or 34 cents.

UTi Worldwide Inc (UTIW) declined 6.1% or $1.05 to $16 after the air freight company reported total revenue in the second-quarter ending in July slipped 4.5% to $1.13 billion. Net in the quarter swung to a loss $4.4 million or 4 cents a diluted share compared to a net income of $18.9 million or 18 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