Fitness financials: Cybex upgraded by research firm, plus Wal-Mart

Cybex Int’l was upgraded from “neutral” to “buy,” and Wal-Mart’s Q3 profit rose 3.2 percent.

Cybex upgraded by research firm

Research firm B. Riley & Co. reported that it upgraded Cybex Int’l (Nasdaq: CYBI) from “neutral” to “buy” on Nov. 13.

It closed the day at $1.70, up $0.35. It’s 52-week range is $0.81 to $2.55.

Wal-Mart’s Q3 profit up 3.2 percent

Wal-Mart Stores (NYSE: WMT) posted a 3.2 percent increase in third-quarter

profit, saying it was helped by cost-cutting measures like slashing inventories.

Its profit was $3.24 billion, or $0.84 per share, for the period ended Oct. 31 -- versus $3.14 billion, or $0.80 per share, in the year-ago period. Revenue rose to $99.4 billion from $98.3 billion.

Within each division, Wal-Mart's U.S. namesake stores posted a 1.2 percent sales increase to $61.81 billion in the third quarter, while Sam's Club division generated revenue of $11.55 billion, down 0.7 percent.

It said same-store sales fell 0.4 percent in the period because of continued deflation in such categories as electronics and dairy as well as a tough economy. It marked the second consecutive quarterly decline.

Wal-Mart said it expects that earnings per share in the fourth quarter to be in the range of $1.08 and $1.12 per share. As a result, it raised guidance for the full fiscal year to $3.57 to $3.61 per share, from $3.50 to $3.60 per share.

--Compiled by Wendy Geister

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