Stocks in the news: Walt Disney, J.C. Penney, Abercrombie & Fitch
Nov 13th 2009 9:10AM
Updated Dec 4th 2009 10:17AM
J.C. Penney (JCP) reported Friday a lower quarterly profit of $27 million, or 11 cents a share, in line with estimates. Sales fell 3.2% to $4.18 billion in the third quarter. Same-store sales fell 4.6% during the quarter. But the retailer raised its forecast for the full year to a level that could top Wall Street expectations. Shares jumped nearly 5.5% ahead of the bell.
Abercrombie & Fitch (ANF) posted Friday morning a 39% lower profit of $38.8 million, or 44 cents per share, but adjusted profit was much better than expected, helped by cost cuts. Net sales fell 15% to $765.4 million as same-store sales fell 22%. Shares rallied 6.6% percent in pre-market trading.
Nordstrom (JWN) late Thursday posted a quarterly profit that was below analysts' forecasts. Profit grew 17% with higher revenue and margins. The company also boosted its fiscal-year outlook, but said it expects a drop in full-year same-store sales. Shares traded 4.4% lower in pre-market action.
Blockbuster Inc. (BBI) posted late Thursday a larger-than-expected quarterly loss as revenue fell more than 20%. Shares sank over 13% ahead of the bell.
SolarWinds (SWI) said that it has priced 12 million shares at $18.75 per share in a secondary public offering.
Boeing Co. (BA) has known nothing but delays for its 787 Dreamliner, and it seems it has hit another stumbling block: Engineers have discovered damage to one of the test plane's wings, The Wall Street Journal reported Friday.
Agilent Technologies Inc. (A) reported lower profits in its latest quarter Friday morning, but still topped analysts' estimates. Shares opened about 2.5% percent higher.
Dell Inc. (DELL) confirmed plans Friday to launch its own smartphone, the Mini 3, designed around Google Inc.'s (GOOG) Android platform.
Dollar General Corp.'s initial public offering of 34.1 million shares priced at $21 a share Thursday, the lower end of the expected price range of $21 to $23.