DOW JONES NEWSWIRES
Below is a synopsis of major quarterly releases from Thursday
night and Friday morning:
Gap Profit Falls Slightly But Beats Views; Sales Down
Casual clothing retailer Gap Inc. (GPS) posted a 0.4% drop in
profit, narrowly beating expectations, even as it posted lower
sales across all four of its divisions. Margins and online sales
improved. Shares rose 2.9% to $19.40.
Salesforce.com Net Doubles On Revenue Growth, Boosts Year
View
Salesforce.com Inc.'s (CRM) profit more than doubled amid strong
revenue growth, leading the company to raise its views for the
fiscal year. Higher-than-expected revenue and earnings per share
and a raised full-year 2010 outlook will help allay some recent
concerns that the San Francisco-based company, which specializes in
on-demand business software, was experiencing a transition to a
lower growth phase. Shares soared 16% to $53.50.
Intuit's Red Ink Swells; Shares Off As Outlooks Disappoint
Intuit Inc.'s (INTU) loss widened as revenue edged down, but the
tax and accounting software company topped Wall Street
expectations. The company offered guidance for the current quarter
and for fiscal 2010 that falls short of Wall Street expectations.
Shares declined 7.2% to $28.63.
Mentor Graphics Loss Widens As Margins Fall; Shares Up On
View
Mentor Graphics Corp.'s (MENT) loss - its sixth in the past two
years - widened on lower margins. Shares jumped 14% to $9.05 as the
chip-design software company's results topped its forecast. Mentor
also forecast fiscal third-quarter results above analysts'
estimates.
Foot Locker Breaks Even Amid Lower Sales, Margins; Misses
Estimates
Foot Locker Inc. (FL) roughly broke even, compared with a profit
in the prior year, as the company posted lower revenue and margins.
Results missed Wall Street views, sending shares down 8.3% to
$10.36.
Volume Increases, Folger Deal Spur JM Smucker Profit
J.M. Smucker Co.'s (SJM) earnings more than doubled, driven by
its Folgers acquisition and volume increases at its U.S. retail
businesses, exceeding Wall Street expectations. The company said
fiscal-year earnings are more likely to be at the higher end of its
June estimate. Shares climbed 4.5% to $54.22.
AnnTaylor Swings To Loss On Restructuring
AnnTaylor Stores Corp. (ANN) swung to a loss, its fourth
straight, on restructuring charges and falling sales as rising
unemployment continues to hurt the professional-women's apparel
market, though bottom-line results beat its expectations. Shares
edged down 1.1% to $12.68.
Brocade Swings To Loss On Higher Expenses; Rev Misses
Estimates
Brocade Communications Systems Inc. (BRCD) swung to a loss on
lower margins and higher expenses, despite a 35% increase in
revenue. The data-storage networking company posted its third
quarterly loss in a row. Its adjusted earnings topped Wall Street's
expectations though revenue was short of analysts' estimate. Sahres
fell 5.2% to $7.64
ScanSource Earnings Dip On Rev Decline But Shares Rise On
Forecast
ScanSource Inc.'s (SCSC) earnings fell 14% as the distributor of
security devices such as barcode scanners and card readers posted a
double-digit decline in revenue. Still, the company offered
surprisingly strong revenue guidance for the current quarter,
sending shares up 8.9% to $30.35.
Nordson Profit Sags on Lower Sales; Estimates Top Street
Views
Nordson Corp.'s (NDSN) profit dropped 26% on lower sales, and
the company predicted higher fiscal fourth-quarter and fiscal-year
results than analysts had estimated. The dispensing-equipment
maker's results also topped its own and Wall Street's forecasts.
Shares climbed 9.1% to $54.38.
Verigy Swings To Loss On Declining Sales, Margins
Verigy Ltd. (VRGY) swung to a loss as sales dropped by more than
half and margins sagged. Shares fell 9.8% to $11.03, even as the
semiconductor-testing company's results topped estimates and it
predicted fiscal fourth-quarter results in line with estimates.