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Major Movers on July 22; KMB, DWA, MCD, YHOO, FDML, NAFC, SPTN

Shares of Kimberly Clark Corp. (NYSE: KMB) fell about 1.47% by afternoon trade. The Consumer products maker, reported on Monday that fiscal second quarter net income increased 5.6% as cost cutting measures, improvement in international business helped offsetting its restructuring expenses arising from Western European operations. Earnings topped Wall Street’s estimate but revenue fell short of expectation. For the quarter, the Company posted a net income of $526 million or $1.36 a share compared to a profit of $498 million or $1.26 a share, in the same quarter of last year. Stripping out onetime items, the Company earned $1.41 a share, up from $1.30 a share, in the year-earlier quarter. Sales remained mainly unchanged at $5.27 billion. Analysts’ consensus estimate was for earnings of $1.39 on revenue of $5.34 billion. Shares of Dreamworks Animation Skg Inc. (NASDAQ: DWA) slumped about 6.35% by midday trade. The production house’s “Turbo” bombed in North American theaters. “Turbo” now joins the latest Hollywood movies which have performed miserably at the box office. Turbo, which was made with a budget of $135 million, collected just $21.5 million in its weekend box-office collection even as “The Conjuring” and “Despicable Me 2” did fairly well in theaters. For Dreamworks, this has been a weakest ever opening. Commenting over Turbo’s weekend performance, Doug Creutz an analyst at Cowen and Company wrote in his research note on Thursday, “At this level, we would expect a substantial write-down on the film.” Shares of McDonald’s Corporation (NYSE: MCD) fell about 2.60% by afternoon trade. Weaker sales trends in Asia and Europe dented McDonald’s business in the fiscal second quarter. Even though the world’s largest burger chain changed menus items, and U.S. sales improved, both adjusted earnings and revenue for the quarter fell short of Wall Street’s expectations. For the fiscal second quarter, the Oak Brook Illinois based burger chain posted adjusted earnings of $1.38 a share compared to $1.32 a share in the same quarter of last year. Revenue rose to $7.08 billion from $6.92 billion. Analysts surveyed by Thomson Reuters had expected earnings of $1.40 a share on revenue of $7.10 billion. Shares of Yahoo Inc. (NASDAQ: YHOO) fell about 3.35% by afternoon trade. The internet company said that it will repurchase shares worth $40.00 million from Third Point at $29.11 a share. Shares of Federal Mogul Corporation (NASDAQ: FDML) skyrocketed about 24% by afternoon trade. The auto parts supplier swung into fiscal second quarter profit as sales volume rose while cost cutting measures also boosted the bottom line. For the fiscal second quarter ended June 30, the Company reported a profit of $56 million or 57 cents a share compared to a loss of $59 million or 60 cents a share, in the year-earlier quarter. Shares of both Nash-Finch Company (NASDAQ: NAFC) and Spartan Stores Inc. (NASDAQ: SPTN) climbed about 7.5%, each, by afternoon trade. Spartan Stores today said that it entered in a definitive acquisition agreement with Nash-Finch Company in an all-stock deal valued at about $1.3 billion. The deal includes the debt.  

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