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Stocks in Motion: Jacuzzi

Shares of Tommy Hilfiger (TOM) were among the Big Board's best performers Thursday after the company settled a tax investigation with federal prosecutors. In return for an $18 million payment, the government agreed not to seek charges following a yearlong probe of Hilfiger's tax returns going back to 2001. The payment represents about $15.4 million of extra taxes and $2.7 million in interest costs. Recently, the stock was up $1.28, or 9.4%, to $14.86.

World Fuel Services (INT) was another big winner Thursday after posting solidly higher second-quarter earnings. World Fuel earned $9.6 million, or 50 cents a share, in the quarter, up from $6.4 million, or 27 cents a share, last year. Revenue rose 51% from a year ago to $2.12 billion. The single-analyst estimate on Thomson First Call was for earnings of 36 cents a share in the most recent quarter. The shares gained $2.22, or 8.4%, to $28.59.

Jacuzzi (JJZ) tumbled after reporting a weak quarter and warning on the full year. The bath maker lost $20.8 million, or 27 cents a share, in the quarter, reversing a profit of $13.8 million, or 18 cents a share, a year ago. Adjusted earnings of 13 cents a share were about 8 cents short of estimates. For the full year, Jacuzzi expects to earn 40 cents to 44 cents a share from continuing operations, well short of estimates. The stock lost $1.41, or 15.4%, to $7.74.

Shares of Hummingbird (HUMC) took flight after the company reported a nearly 10% jump in third-quarter sales. The company lost $1.9 million, or 11 cents a share, in the quarter, reflecting a restructuring charge of $4.1 million. Before the item, Hummingbird earned $5.6 million, or 32 cents a share, in the latest quarter, compared with $6.3 million, or 36 cents a share, last year. Sales rose 9.8% to $61.7 million in the quarter, reflecting license revenue that rose 22% sequentially to $28.3 million. The stock was recently adding $2.70, or 13.9%, to $22.20.

Lifecore Biomedical (LCBM) tanked despite reporting a sharply higher fourth-quarter profit. The company earned $11.7 million, or 87 cents a share, in the quarter, including a big gain from a tax valuation allowance. Stripping out items, the company earned $2.3 million, or 17 cents a share, in the quarter, up from $1.0 million, or 8 cents a share, last year. The company said results were hurt by lower sales to veterinary customers and warned that seasonality in its oral restorative business will impact first-quarter results. Shares fell $2.75, or 20.2%, to $10.87.

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