Market Snapshot August 27, 2009, 1:55PM EST

Stocks Trade Mixed after GDP News

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asp?symbol=TIVO'>TIVO) posted second quarter adjusted EBITDA of $5.2 million, exceeding guidance of breakeven to $2 million. It reported a narrower-than-expected $0.03 second quarter loss, vs. $0.03 EPS a year ago, on 8.7% revenue decline. The Street was looking for $0.05 loss. It sees third quarter revenue of $46-$48 million and adjusted EBUITDA of breakeven to loss of $2 million. Also, TiVo filed complaints in U.S. District Court, Eastern District of Texas against AT&T (T) and Verizon (VZ) for infringement of three TiVo patents.

Jo-Ann Stores (JAS) shares rose after the retailer reported $0.13 second quarter loss, vs. $0.47 loss a year ago, on 1.8% higher same-store sales, 4.1% higher net sales and widened gross margins. The Street estimate called for a second quarter loss of $0.39. For fiscal year 2010, the company sees same-store sales approximately flat to up 1%, gross margin rate improving, and EPS of $1.35-$1.50. Street was looking for fiscal year 2010 EPS of $1.10. Wedbush Morgan raises estimates, target; maintains neutral.

Coldwater Creek (CWTR) posted $0.05 second quarter loss, vs. $0.03 EPS, on 10% lower same-store-sales and 6.7% lower net sales. Results were in line with the company's expectations. The retailer expects third quarter results to show sequential improvement. It continues to expect SG&A savings of $30 million for fiscal year 2010 full year and to end the year with at least $100 million in cash.

Shoe Carnival (SCVL) posted $0.08, vs. $0.08, second quarter EPS on 6.4% lower same-store sales and 3.6% lower total sales. The Street was looking for $0.02. Due to improved trends early in third quarter, it expects to record positive same-store sales for the quarter.

American Eagle Outfitters (AEO) posted $0.14, vs. $0.29, second quarter EPS on 10% same-store sales drop, 4.5% total sales drop. It sees third quarter EPS of $0.22-$0.25 vs. $0.30, which includes a tax benefit of about $0.05 associated with the repatriation of earnings from Canada; guidance excludes the possibility of additional impairments or losses related to investment securities.

McCormack is senior producer for BusinessWeek.com's Investing channel.