DKS, CMED, WSM, TTIL, TSL, GME, NTAP, MVIS Popular Stocks
U.S. stocks traded lower Thursday, as the Dow Jones Industrial Average lost 1.19% to 10302, the S&P 500 fell 1.55% to 1093 and the Nasdaq Composite Index dropped 1.81% to 2153.
Dick’s Sporting Goods’ (NYSE:DKS, $22.64, -$2.18, -8.78%) fiscal third-quarter income more than tripled, smashing forecasts. But shares dropped as the sporting-goods seller forecast fourth-quarter earnings of 41 cents to 46 cents a share on same-store sales dropping 4% to 6%. Analysts polled by Thomson Reuters had expected earnings of 57 cents a share.
China Medical Technologies Inc. (NASDAQ:CMED, $13.18, -$1.97, -13.00%), a maker of in-vitro diagnostic products, swung to a fiscal second-quarter loss as sales dropped a bigger-than-expected 14%. The company did say it sees signs of stabilization and the forecast for the fiscal third quarter shows slight sequential growth.
Williams-Sonoma Inc. (NYSE:WSM, $21.84, +$0.81, 3.85%) swung to a third-quarter profit, posting results that beat forecasts, as margins rose and the company said consumers are responding to its merchandise and marketing strategies. Williams-Sonoma, which operates its namesake stores plus Pottery Barn and West Elm, reported earnings of $7.3 million, or 7 cents a share, compared with a year-earlier loss of $10.9 million, or 10 cents. The latest quarter included 9 cents in restructuring and other impacts. Revenue fell 3% to $729 million as same-store sales increased 1.7%.
TTI Team Telecom International Ltd. (NASDAQ:TTIL, $1.62, +$0.44, 37.63%) said its third-quarter net income was 1.28 million or $0.07 compared a loss of $1.01 million or $0.06 per share in the prior year period. Total revenues for the quarter declined to $10.32 million from $12.70 million in the year-ago period. Net income for the nine months ended September 30, 2009, rose to $2.66 million from $119 thousand in the previous year.
Chinese solar power company Trina Solar Ltd. (NYSE:TSL, $45.57, +$2.82, 6.60%) on Thursday said its third-quarter earnings climbed 25 percent to a record high and beat expectations, pushing its shares up in morning trading. Quarterly earnings rose to $40.1 million, or $1.29 per American Depository Share, compared with $32.1 million, or $1.17 per ADS, during the same period last year. Results include the impact of $3.6 million in write-offs and a foreign currency exchange net gain of $7.9 million.
GameStop Corp. (NYSE:GME, $24.44, +$0.35, 1.45%), the world’s largest video game retailer, said Thursday that sales of new hot-selling games helped boost its third-quarter profit nearly 12 percent and offset a sales decline for video game hardware. Net earnings for the quarter ended Oct. 13 were $52.2 million, or 31 cents per share, up from a profit of $46.7 million, or 28 cents per share, in the same quarter a year ago.
NetApp Inc.’s (NASDAQ:NTAP, $31.00, +$1.38, 4.66%) fiscal second-quarter profit more than doubled on sharply higher margins, though revenue was flat. The data-storage and management company’s results exceeded its guidance and NetApp raised its third-quarter forecast.
Microvision Inc. (NASDAQ:MVIS, $3.26, -$0.85, -20.68%), a portable-projector company, announced terms of its planned stock offering, saying it will sell at least 3 million shares at a sharp 27% discount to Wednesday’s closing price.
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