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Market Update

U.S. Movers: Guess, Jabil Circuit, KB Home, Lululemon, Oracle, Cato


Author: Mukesh Buch
ticker.com
Last Update: 11:03 AM ET March 21 2013

11:00 AM New York Guess Inc said fourth quarter net plunged 11%. Jabil Circuit second quarter net dropped 9%. KB Home loss narrowed as revenue jumped 59%. Lululemon fourth quarter net climbed 49% and Oracle third quarter net was lower than expected.

Guess, Inc. (GES) dropped 4.5% or $1.23 to $25.72 after the apparel retailer stated net revenue in the fourth quarter ending on February 2 surged 5% to $815.1 million. Comparable sales in the quarter dropped 6.3%.

Net earnings in the quarter plunged 11% to $72.6 million or 85 cents a diluted share compared to $95.9 million or $1.05.

The company added operating income in the quarter declined 11.7% to $120 million.

The apparel retailer expects first quarter consolidated net revenues between $545 million and $560 million and diluted earnings per share in the range of 5 cents to 10 cents.

Herman Miller, Inc. (MLHR) jumped 7.4% or $1.90 to $27.36 after the furnishing designer reported net sales in the third quarter ending on March 2 jumped 6% to $423.5 million. Net income in the quarter climbed 8% to $16.5 million or 32 cents a diluted share compared to $14.9 million or 26 cents.

For fourth quarter, Herman expects diluted earnings per share in the range of 30 cents to 34 cents.

IHS Inc (IHS) slumped 3.8% or $4.21 to $105.08 after the energy company stated revenues in the first quarter ending on February 28 surged 12% to $383 million. Net income in the quarter advanced 5% to $24.7 million or 37 cents a diluted share compared to $23.5 million or 35 cents.

Jabil Circuit, Inc. (JBL) declined 4.6% or 90 cents to $18.58 after the electronic products maker reported net revenues in the second quarter ending on February 28 advanced 4% to $4.42 billion. Net income in the quarter dropped 9% to $88.5 million or 43 cents a diluted share compared to $97.7 million or 46 cents.

The company said gross profit in the quarter fell 0.7% to $324.5 million.

For the third quarter, company expects net revenue in the range of $4.3 billion to $4.5 billion and diluted earnings per share between 40 cents and 48 cents.

KB Home (KBH) gained 1.2% or 26 cents to $21.83 after the home builder stated net revenue in the first quarter ending on February 28 jumped 59% to $405.2 million. Net loss in the quarter narrowed to $12.5 million or 16 cents a diluted share compared to $45.8 million or 59 cents.

Lululemon Athletica Inc (LULU) rose 53 cents to $64.41 after the athletic and yoga apparel retailer said net revenue in the fourth quarter ending on February 3 soared 31% to $485.5 million. Comparable sales in the quarter surged 10%.

Net income in the quarter climbed 49% to $109.4 million or 75 cents a diluted share compared to $73.5 million or 51 cents.

The company added direct to consumer revenue climbed 56% to $78.3 million and gross profit for the quarter jumped 31% to $274.5 million.

The Lulemon expects first quarter net revenue between $333 million and $343 million and comparable store sales to grow in the range of 5% to 8% and diluted earnings per share between 28 cents and 30 cents.

For year, Lulemon expect net revenue in the range of $1.62 billion to $1.64 billion and diluted earnings per share between $1.95 and $1.99.

The outlook reflects current impact of sheer pants issue including the loss of revenue in the range of $57 million to $67 million. The company also said on a conference call that more sheers pants are on the way from manufacturers in Asia with quality control problems.

Oracle Corporation (ORCL) declined 9.1% or $3.26 to $32.50 after the database developer stated total revenue in the third quarter ending on February 28 fell 1% to $9 billion. Net income in the quarter was flat at $2.50 billion or 52 cents a diluted share compared to $2.49 billion or 46 cents.

The company added operating income in the quarter rose 0.3% to $3.33 billion.

The Cato Corporation (CATO) dropped 5.6% or $1.45 to $24.27 after the specialty retailer reported stated total revenue in the fourth quarter ending on February 2 advanced 5% to $235 million. Comparable sales in the quarter declined 7%.

Net income in the quarter plunged 22% to $7.94 million or 27 cents a diluted share compared to $10.1 million or 35 cents.

The retailer expects first quarter net income in the range of $30.3 million to $33.3 million and diluted earnings per share between $1.03 and $1.14.

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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