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Earnings Analysis: 
GameStop, Dick's Fall; Children's Place Rises
Author: 123jump.com Staff
123jump.com
Last Update: 11:54 AM EDT May 22 2008


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U.S. stocks edged higher on the weekly unemployment report. The fall in claims at the end of the last week, lower than expected lifted market averages. Ford Motor cut its production target for the next two quarters by 20% and said that it may only break-even in the year 2009. Earlier it had estimated a return to profitability by the year. UBS offered rights at 31% discount from its closing price on yesterday.

 
GameStop Corp stock (GME: chart) stock fell $3.70 to $47.15.

Global Sources Ltd, a China based business to business media company reported first quarter revenues rose 16% to $40.6 million from $34.9 million a year ago. Net income in the quarter increased 80.48% to $8.2 million or 17 cents per diluted share compared to net income of $6.5 million or 14 cents per share, a year ago.

Global Sources Ltd stock (GSOL: chart) was unchanged at $16.47.

New York and Company, Inc, a specialty apparel chain with 586 retail stores reported first quarter sales decreased 6.6% to $270.1 million from $274.2 million a year ago. Net income in the quarter increased 37.5% to $6.7 million or 11 cents per diluted share compared to net income of $802 million or 1 cent per share, a year ago.

New York and Company, Inc stock (NWY: chart) rose 42 cents to $7.60.

Ship Finance International Limited, owner and operator of shipping vessels and offshore assets reported first quarter revenues of $121.9 million. Net income in the quarter increased 43.64% to $59.8 million or 82 cents per diluted share compared to net income of $33.7 million or 79 cent per share, a year ago.

Ship Finance International Limited stock (SFL: chart) fell $1.11 to $31.16.

Suntech Power Holdings Co., Ltd, solar energy company reported first quarter revenues rose 76.1% to $434.5 million from $246.6 million a year ago. Net income in the quarter increased 53.22% to $55.8 million or 33 cents per ADS compared to net income of $26.1 million or 16 cents per ADS, a year ago.

Suntech Power Holdings Co., Ltd stock (STP: chart) fell 75 cents to $45.51.

The Toro Company, a leading manufacturer of lawn equipment reported second quarter sales declined 7.53% to $638.5 million from $686.7 million a year ago. Net income in the quarter decreased 19.40% to $62.8 million or $1.60 per diluted share compared to net income of $75.0 million or $1.77 per share, a year ago.

The Toro Company stock (TTC: chart) stock fell 29 cents to $40.28.

The Children’s Place Retail Stores, Inc, a specialty retailer of children’s merchandise reported first quarter sales rose 12% to $400.2 million from $356.0 million a year ago. Net income in the quarter increased 24.61% to $19.5 million or 67 cents per diluted share compared to net income of $14.7 million or 49 cents per share, a year ago.

The Children’s Place Retail Stores, Inc stock (PLCE: chart) added $3.26 to $31.59.

Zale Corporation, a retailer of fine jewelry said third quarter revenues rose 6.2% to $477 million from $449 million a year ago. Net loss in the quarter was $17.4 million or 42 cents per diluted share compared to net loss of $5.0 million or 10 cents per share, a year ago.

Zale Corporation stock (ZLC: chart) surged 11% or $2.50 to $21.15.
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