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Market Update

U.S. Movers: Global Payments, Monsanto, Team, Village Super Market, Walgreen


Author: Mukesh Buch
ticker.com
Last Update: 11:33 AM ET October 02 2013

11:35 AM New York Global Payments net soared 38% as revenue jumped. Monsanto said quarterly loss widened. Resources Connection net plummeted 23% and Team Inc declined 12% after net tumbled 41%. Walgreen quarterly earnings surged 86.4%.

Global Payments Inc (GPN) surged 11.4% or $5.77 to $56.47 after the payments services provider said revenue in the first-quarter ending in August jumped 7% to $629.7 million. Net income in the quarter surged 38% to $64.6 million or 87 cents a diluted share compared to $46.7 million or 59 cents.

Monsanto Company (MON) declined 1.3% or $1.34 to $103.71 after the agricultural products provider reported net sales in the fourth-quarter ending in August advanced 5% to $2.20 billion. Net loss in the quarter widened to $249 million or 47 cents a diluted share compared to $229 million or 42 cents.

Resources Connection, Inc. (RECN) plunged 11.8% or $1.61 to $12.07 after the professional services provider stated revenue in the first-quarter ending on August 24 fell 3.8% to $131.7 million. Net income in the quarter plummeted 23% to $3.7 million or 9 cents a diluted share compared to $4.8 million or 12 cents.

Team, Inc. (TISI) declined 12.6% or $5.02 to $34.98 after the maintenance and inspection service provider reported revenue in the first-quarter jumped 8% to $174 million. Net income in the quarter tumbled 41% to $4.5 million or 21 cents a diluted share compared to $7.6 million or 36 cents.

Village Super Market, Inc. (VLGEA) dropped 3.6% or $1.36 to $36.80 after the supermarkets operator said net sales in the fourth-quarter ending on July 27 grew 1.7% to $376.3 million. Same store sales in the quarter increased 1.7%.

Net income in the quarter plunged 31% to $6.20 million or 44 cents a diluted share compared to $9.02 million or 65 cents.

Walgreen Co. (WAG) slipped 1.4% or 77 cents to $55.47 after the drugstore chain reported sales in the fourth-quarter ending in August jumped 5% to $17.9 billion. Total sales in comparable stores increased 4.6%. Net earnings in the quarter surged 86.4% to $657 million or 69 cents diluted share compared to $353 million or 39 cents per share.

Front-end comparable store sales in the quarter grew 1.6% and customer traffic in comparable stores slid 1.9% while basket size increased 3.6%.

Prescription sales that contributed 63.9% of sales jumped 6.1% and prescription sales in comparable stores climbed 6.4%.

Net sales for the year rose 0.8% to $72.2 billion and net earnings jumped 15% to $2.45 billion or $2.56 per share from $2.13 billion or $2.42 per 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