Jack in the Box
( JBX) were among the
winners Tuesday, rising 6% after the fast-food restaurant operator posted better-than-expected fiscal fourth-quarter results and announced a big share buyback.
For the quarter ended Oct. 1, the company earned $33.2 million, or 92 cents a share, on revenue of $670.7 million. Excluding items, Jack in the Box earned 68 cents a share. Analysts polled by Thomson First Call expected earnings of 66 cents a share and revenue of $665.3 million. A year earlier, the company earned $21.5 million, or 59 cents a share, on revenue of $600.5 million.
Looking ahead, Jack in the Box forecast first-quarter earnings of 78 cents to 81 cents a share. Analysts project earnings of 78 cents a share.
Separately, Jack in the Box said that it plans to buy up to 5.5 million shares as part of a modified Dutch auction. The company will buy shares at prices ranging from $55 to $61 a share at a maximum aggregate price of $335.5 million. The tender offer is expected to close on Dec. 19. The company said the tender will reduce its shares outstanding by 15.5%. Shares were trading up $3.25 to $61.82.
rose 6% after the farm-equipment maker posted better-than-expected fourth-quarter results. For the period ended Oct. 31, the company earned $277.3 million, or $1.20 a share, on revenue of $5.12 billion. Analysts expected earnings of 94 cents a share on revenue of $4.79 billion. During the year-earlier period, the company earned $232.8 million, or 96 cents a share, on revenue of $4.99 billion.
For the fiscal first quarter, Deere anticipates earnings of $150 million to $175 million and 5% revenue growth. For all of fiscal 2007, the company predicts income of $1.33 billion and flat sales. Shares recently were up $4.99 to $94.40.
rose 3% after the department store operator posted better-than-expected third-quarter results and raised its guidance. For the quarter ended Oct. 28, the company earned $135.7 million, or 52 cents a share. Analysts expected earnings of 51 cents a share on revenue of $1.85 billion. Revenue totaled $1.87 billion, compared with analysts' estimate of $1.8 billion, while same-store sales jumped 10.7%. During the year-earlier quarter, the company earned $107.5 million, or 39 cents a share, on revenue of $1.67 billion.
Looking ahead, Nordstrom sees fourth-quarter earnings of 79 cents to 84 cents a share, in line with the 82 cents a share that analysts project. For the full fiscal year ending in February, Nordstrom now sees earnings of $2.46 to $2.51 a share, up from an earlier forecast of $2.31 to 2.39. Shares were trading at $48.83, up $1.34.
( JAS) surged 14% after the fabric retailer's third-quarter results bested Wall Street's forecast. For the period ended Oct. 28, the company earned $100,000, or less than a penny a share, reversing a year-earlier loss of $4.1 million, or 8 cents a share. Analysts expected a loss of 8 cents a share for the latest quarter. Jo-Ann's revenue slipped to $461.9 million from $474.2 million, while its same-store sales fell 5.4%. Shares were trading up $2.44 to $20.02.
jumped 13% after the footwear retailer posted better-than-expected third-quarter results. For the period ended Oct. 28, the company earned $26.9 million, or 93 cents a share, on revenue of $676.8 million. Analysts expected earnings of 84 cents a share and revenue of $652.7 million. In the year-earlier quarter, the company earned $19.8 million, or 70 cents a share, on revenue of $617.7 million.
Looking ahead, Brown Shoe forecast adjusted fourth-quarter earnings of 65 cents to 70 cents a share, above Wall Street's projection of 64 cents a share. Shares were trading up $5.11 to $44.66.
Advanced Medical Optics
tumbled 8% after the maker of eye-care products announced a contact-lens-solution recall and, as a result, cut its guidance. Advanced Medical said it is recalling certain lots of its Complete MoisturePLUS solution after some of the products in Japan were found to have bacterial contamination due to production-line issues at its plant in China. The company is recalling 18 lots in the U.S. that were manufactured in the same production lines.
Advanced Medical expects the recall to cut 2006 revenue by $40 million to $45 million. As a result, the company now sees 2006 revenue of $985 million to $1 billion, down from its prior view of $1.01 billion to $1.02 billion. The company now expects adjusted earnings of $1.30 to $1.40 a share, compared with a prior guidance of $1.85 to $1.90.
The company also cut its 2007 earnings projection to a range of $1.80 to $2 from its previous forecast of $2.25 to $2.35. Advanced Medical lowered its 2007 revenue outlook to a range of $1.06 billion to $1.08 billion from its prior projection of $1.08 billion to $1.10 billion. Shares were trading down $3.32 to $35.93.
slumped 13% after the construction-services company posted first-quarter earnings that missed expectations and gave a second-quarter forecast below Wall Street's projection. For the quarter ended Oct. 28, the company earned $9.6 million, or 24 cents a share, on revenue of $278.2 million. Analysts expected earnings of 25 cents a share and revenue of $267.6 million. During the year-earlier quarter, the company earned $10.7 million, or 23 cents a share, on revenue of $260.9 million.
Dycom forecast second-quarter earnings of 10 cents to 15 cents a share, below Wall Street's forecast of 19 cents. The company sees revenue of $240 million to $260 million, compared with Wall Street's projection of $261.7 million. Shares were trading down $3.16 to $20.58.
NYSE volume leaders included
, up $3.69 to $52.64;
, down 4 cents to $12.64;
( NT), up 2 cents to $2.04;
( LU), down 1 cent to $2.61;
( AFN), up 49 cents to $9.50;
( PD), down 55 cents to $119.92;
Equity Office Properties
( EOP), up 17 cents to $48.31; and
, up 6 cents to $27.11.
top volume movers included
, down 17 cents to $22.10;
, down 19 cents to $26.92;
Marvell Technology Group
, up 2 cents to $20.88;
, up 7 cents to $29.96;
, down $2.52 to $42.76;
, up 81 cents to $21.29;
, up 90 cents to $87.37; and
, up 3 cents to $5.54.