ANN, TTIL, ADCT, TLEO, ZUMZ, WTSLA, PPD, CFL Popular Stocks
U.S. stocks declined Friday, as the Dow Jones Industrial Average slid 0.31% to 10300, the S&P 500 lost 0.42% to 1090 and the Nasdaq Composite Index fell 0.60% to 2144.
AnnTaylor Stores Corp. (NYSE:ANN, $12.93, -$0.88, -6.37%) swung to a third-quarter profit amid lower restructuring expenses and higher margins, as results at the women’s apparel retailer handily beat analysts’ estimates. Still, shares fell as investors questioned the quality of the retailer’s profit, which was driven by cost cutting. Revenue came in below the company’s expectations for a slight improvement, and same-store sales dropped 14%.
TTI Team Telecom International Ltd. (NASDAQ:TTIL, $2.16, +$0.40, 22.72%), a global supplier of Operations Support Systems to communications service providers, announced results for the third quarter ended September 30, 2009. Total revenues for the third quarter were $10.3 million, compared with $12.7 million in the third quarter of 2008, and $10.7 million for the second quarter of 2009. Total operating expenses were $4.9 million, compared to $7.0 million in the third quarter of 2008 and $5.3 million in the second quarter of 2009.
ADC Telecommunications’ (NASDAQ:ADCT, $5.86, -$0.78, -11.76%) fiscal fourth-quarter loss–its fifth loss in a row–narrowed slightly. Even as the results topped expectations, the telecommunications-equipment maker gave a weak first-quarter view.
Taleo Corp. (NASDAQ:TLEO, $20.52, -$0.48, -2.29%) priced its 6.5 million shares common offering at $20.25, which is a 3.6% discount to it Thursday closing price of $21.
Teen retailers Zumiez Inc. (NASDAQ:ZUMZ, $12.30, +$1.18, 10.61%) and Wet Seal (NASDAQ:WTSLA, $3.07, -$0.23, -7.12%) reported lower fiscal third-quarter earnings as the sector continues to be hurt by falling sales. But results topped expectations for Zumiez, while both it and Wet Seal gave a weaker-than-anticipated forecast for the current quarter. Wet Seal also warned sales have slumped so far this month.
Pre-Paid Legal Services Inc. (NYSE:PPD, $36.37, +$3.10, 9.32%) sought to undo some of the damage done by its disclosure Thursday that it got a draft complaint from the Federal Trade Commission, saying on Friday it believes the move is merely “the next step in an ongoing process.”
Brink’s Home Security Holdings Inc. (NYSE:CFL, $31.90, -$1.33, -3.99%) earned a downgrade from Morgan Stanley. The firm cut the stock to equalweight from overweight on valuation.
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