What's Shaking: Thursday's Early Movers
Take a look at some of Thursday morning's early movers:
Target - Target reported a February same-store sales increase of 7 percent, above estimates of a 5.2% increase. Target says it saw increases in both customer traffic and transaction sizes.
Macy's - Macy's says same-store sales were up 4.6 percent in February, versus estimates of a 3.5 percent increase. It credits strong performance in women's apparel, men's wear, and accessories, among other areas.
Gap - Gap countered expectations of a 1.4 percent drop in February same store sales by reporting a 4% increase, saying customers responded well to its spring product line.
Wendy's - The restaurant chain reported quarterly profit of four cents per share, excluding certain items, one cent above estimates. Wendy's says its move to reimage its restaurants is so far producing positive results.
Kroger - The grocery store operator earned 50 cents per share, excluding certain items, for its fourth quarter, one cent above estimates. Kroger's performance came on improved sales and increased market share.
Sotheby’s - The auction house missed estimates with fourth quarter profit of $1.04 per share compared to consensus of $1.25. Revenues also missed the mark during the quarter, with profit margins narrowing.
Edison International - The utility operator earned 75 cents a share, excluding certain items, for the fourth quarter, well above estimates of 46 cents.
PetSmart - The company beat estimates by a penny with its fourth quarter profit of 91 cents a share, with revenue also slightly above forecasts. The seller of pet supplies had stronger same-store sales, though margins did decline by a small amount. It’s also projecting 2012 profit of $3.02 to $3.16 per share, above estimates of $2.54.
Finisar - The telecom equipment maker is under pressure on a weak current quarter outlook. It expects to earn between 18 and 22 cents per share, compared to estimates of 25 cents, because of inventory issues and soft demand.
Zumiez - The retailer saw a stronger-than-expected 14% rise in February same store sales. Zumiez sells action sports clothing and equipment, and has seen its shares rise about 70 percent over the past four months.
Research In Motion - Jefferies & Co. says the BlackBerry maker is likely to pre-announce poor February quarter results and forecast a weak May quarter because of falling mobile phone sales.
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