Shares of the following companies surged after they posted quarterly results on Tuesday.
Watchmaker Movado Group Inc. (NYSE: MOV) reported a smaller-than-expected Q1 loss as cost cutting offset weak sales due to the continued pullback by consumers of discretionary spending. Movado also surprised with a profit forecast for FY 2010. Shares rose 26.4% to close at $10.24.
Navistar International Corp. (NYSE: NAV) Q2 earnings and revenue fell short of analysts' estimates as the recession dampened demand for commercial vehicles. Navistar also slashed its forecast for the full year, and said it plans to cut costs by shifting production from Canada to Mexico. Yet shares rose 5.6% to close at $45.46.
Atlanta-based apparel maker Oxford Industries Inc. (NYSE: OXM) said its Q1 earnings fell due to weak sales due to reduced demand. Oxford also declined to offer guidance due to economic uncertainty. Shares rose 10.1% to close at $12.16, and continued to rise in after-hours trading.
Philadelphia-based The Pep Boys (NYSE: PBY) said sharply reduced expenses let it post a nearly doubled Q1 profit despite slightly lower sales. Results also included a gain related to bond repurchases. Shares rose 10.8% to close at $9.33, which is nearly 9% higher than the year-ago share price.
Entrepreneur's Journal: Want to get a piece of the Buffett/Goldman honeypot?
The week in preview: No turkey earnings from Tyson, Hormel, Cracker Barrel ...
Comfort Zone Investing: Intel is saying something ... can you hear it?
