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STOCK MOVERS

U.S. Movers: Chase, Electro Rent, Griffin, PriceSmart, Ruby Tuesday, Twitter


Author: Mukesh Buch
ticker.com
Last Update: 12:22 PM ET April 08 2016

12:10 PM New York Chase Corp net surged 71%. Electro Rent profit plunged 58% on 30% decline in revenues. Griffin net loss narrowed after revenues jumped 8%. PriceSmart net and revenues rose 4%. Ruby Tuesday net loss widened and lowered earnings per share outlook.

Tollbooth Index edged up 5.17 to 10,662.90.

Earnings Review

Chase Corporation (CCF) gained 1.1% or 55 cents to $52.66 after the specialty electronic products maker revenues in the second-quarter ending in February advanced 5% from a year ago to $54.9 million.

Net income in the quarter surged 71% to $6.97 million or 74 cents per diluted share compared to $4.07 million or 44 cents per share from the same quarter last year.

Electro Rent Corporation (ELRC) slipped 1.2% or 11 cents to $9.14 after the electronic measurement equipment provider said revenues in the third-quarter ending in February declined 29.8% from a year ago to $39.5 million.

Net income in the quarter plunged 58.3% to $1 million or 4 cents per diluted share compared to $2.4 million or 10 cents per share from the same quarter last year.

Griffin Industrial Realty Inc (GRIF), the industrial and commercial property developer stated total revenues in the first-quarter ending in February jumped 8.1% from a year ago to $6.7 million.

Net loss in the quarter narrowed to $0.3 million or 7 cents per diluted share compared to $0.7 million or 14 cents per share from the same quarter last year.

PriceSmart, Inc (PSMT) decreased 2% or $1.67 to $80.80 after the discount stores operator reported total revenues in the second-quarter ending in February rose 3.7% from a year ago to $777.9 million.

Net income in the quarter jumped 4.4% to $25.9 million or 85 cents per diluted share compared to $24.8 million or 82 cents per share from the same quarter last year.

In the four-weeks ending on March 27, comparable net warehouse club sales declined 5.4%.

The retailer announced in the month of March, net warehouse club sales fell 4.2% to $227.8 million from a year ago month.

Ruby Tuesday, Inc (RT) tumbled 14.2% or 74 cents to $4.48 after the restaurant chain operator said total revenues in the third-quarter ending on March 1 slumped 5.1% from a year ago to $271.5 million.

Same-restaurant sales in the quarter dropped 3.1%.

Net loss in the quarter widened to $3.1 million or 5 cents per diluted share compared to $0.8 million or 1 cent per share from the same quarter last year.

The restaurant operator lowered estimated same-restaurant sales in fiscal 2016 to drop 1% from the previous forecast between flat to up 1% and earnings per share between 5 cents and 8 cents compared to earlier estimated range of 12 cents to 17 cents.

Twitter Inc (TWTR) slid 6 cents to $16.92 after the social media platform provider appointed Hugh Johnston, chief financial officer of PepsiCo and Martha Lane Fox, a founder of LastMinute.com to its board.
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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