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Major Movers on June 7; COO, YUM, ZQK, THO, MTN, GPS

Shares of the Cooper Companies Inc. (NYSE: COO) gained about 5% by afternoon trade. Higher revenue and stronger margins, helped in driving up the fiscal third quarter income by 37%. Although revenue fell short of estimation, non-GAAP earnings topped expectation. The Company boosted its full-year earnings outlook but slashed the upper end of the full-year revenue guidance.

Shares of Yum! Brands Inc. (NYSE: YUM) rose about 2.80% by afternoon trade. UBS AG upgraded the restaurant chain’s stock to “buy” from “neutral”. UBS believed that both profitability and sales in China would show improvement. Earlier on May 28, equity research firm reiterated “buy” rating on the stock while analysts at Jefferies reaffirmed “hold” rating on the stock on May 22.

Shares of Quiksilver Inc. (NYSE: ZQK) plunged about 11.80% by afternoon trade. The sports outfits maker, late last evening said that fiscal second quarter loss widened as the bottom line felt the pinch due to weakness in Europe, Asia Pacific, lower margin, and impairment charges. For the quarter ended April 30, Quiksilver posted a loss of $32.4 million or 19 cents a share compared with a loss $5.1 million or 3 cents a share, in the year-earlier quarter. On non-GAAP/adjusted basis, the company posted a loss of 12 cents a share compared to penny a share, in the year-earlier quarter. Revenue plunged 6.8% to $458.7 million. The Wall Street was anticipating a loss of 4 cents a share on revenue of $505 million. In the recently concluded quarter, the Company took an asset impairment charge of $5.3 million compared to $415,000 in the same quarter of last year. Gross margin contracted to 46% from 49.2%. Region wise, revenue edged up 3.5% in Americas, fell 16% in Europe while it plunged 14% in APAC.

Shares of Thor Industries Inc. (NYSE: THO) rallied about 10.60% by afternoon trade. The recreational vehicle maker said late on Thursday that fiscal third quarter income rose 6%, driven by higher revenue, which matched analysts’ expectation. For the quarter, Thor Industries posted net income of $43.8 million or 82 cents a share. In the same quarter of last fiscal year, the Company reported a profit of $41.3 million or 78 cents a share. Analysts were expecting earnings of 88 cents a share, according to a data compiled by Thomson Reuters. After adjusting impairment charge connected to the sale of ambulance product line, the company earned 97 cents a share. Sales climbed 13% to $1.05 billion from $926.5 million, in the same period of last fiscal year. The Wall Street was expecting revenue of $1.05 billion.

Shares of Vail Resorts Inc. (NYSE:MTN) edged up about 2.75% by afternoon trade. Although the Ski resort operator’s fiscal third quarter earnings and revenue missed Street’s consensus estimate, the company was upbeat over the spring season pass sales for the forthcoming season. In the recently concluded quarter, revenue jumped 11.5% to $469.7 million from $421.1 million, in the same quarter of last fiscal year. Analysts were expecting $474.17 million.

Shares of Gap Inc. (NYSE: GPS) gained about 2.25% by afternoon trade after the apparel retailer posted better-than-expected same-store-sales growth for the four week period ended June 2 on Thursday.



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