Big Lots (NYSE: BIG) slumps on warning; RadioShack (NYSE: RSH), Coach (NYSE: COH) fall

Tallahassee, FL 4/24/12 (StreetBeat) -- Big Lots Inc. (NYSE:BIG -20.38%) shares tumbled 21% to $36 on Tuesday after the closeout retailer said late Monday that its first-quarter U.S. comparable sales would decline instead of its previous projection of an increase. The company's stock was downgraded by several firms including Deutsche Bank and Raymond James.

Electronics retailer RadioShack Corp. (NYSE:RSH -8.37%) shares fell 4.6% after the company posted an unexpected first-quarter loss. Coach Inc. (NYSE: COH -3.46%) fell 5.7% after the upscale handbag designer's North American comparable sales fell short of some analysts' estimates. Wal-Mart Stores Inc. (NYSE:WMT -1.04%) shares fell 1% and its 69% owned Mexican subsidiary Wal-Mart de Mexico's MX:WALMEXV -0.45% stock was down 2.2%. The shares declined for a second day after a New York Times article alleged the company used bribery to expand its growth in its biggest foreign unit. Credit Suisse cut its rating on Walmex to neutral from outperform.

Among the few gainers, True Religion Apparel Inc. (Nasdaq: TRLG +4.89%) rose 4% after Brean Murray raised the stock to buy from hold.

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Steve Jobs Out as Apple CEO; TiVo Reports Loss

Tomahawk, WI 8/25/2011 (PennyPayDay) – Apple CEO Steve Jobs has resigned, with Chief Operating Officer Tim Cook stepping up to take the reins of the tech giant.

Shares were falling 2.4% to $367.12 in premarket trading Thursday.

Digital video recorder maker TiVo reported a second-quarter loss of 17 cents a share, narrower than the loss of 21 cents a share that analysts were forecasting.

Shares were surging 8.4% to $8.80.

Semiconductor capital equipment maker Applied Materials gave a disappointing outlook for the current quarter. The company expects non-GAAP earnings of 16 cents to 24 cents a share in its fourth quarter with sales seen declining between 5% to 30% on a sequential basis.

The current estimate of analysts polled by Thomson Reuters is for a profit of 30 cents a share in the period on revenue of $2.57 billion.

Shares were falling 4.1% to $10.90.

Applied Materials topped Wall Street expectations for the third quarter.

Hormel Foods raised its full-year earnings guidance to $1.70 to $1.75 a share from its previous projection of earnings of $1.67 to $1.73 and reported third-quarter earnings that topped expectations.

The company reported profit of 36 cents a share in the quarter vs. the average analyst estimate of 35 cents a share.

Retailer Big Lots said second-quarter profit fell 8% as same-store sales fell 1.5%. Big Lots earned $35.7 million, or 50 cents a share, compared with year-earlier earnings of $38.9 million, or 48 cents a share. Excluding the impact of its new Canadian operations, Big Lots said non-GAAP income from continuing operations was $36.9 million, or $52 cents a share.

Analysts were expecting earnings of 44 cents a share.

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