S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
DAILY EARNINGS

Cooper Net Jumps; Ambarella, Lululemon Net Tumble


Author: Mukesh Buch
ticker.com
Last Update: 5:10 PM UTC September 01 2017

12:00 PM New York – The Cooper third-quarter net soared 18% to $103 million. Lululemon second-quarter net plummeted 9% to $49 million. Oxford Industries second-quarter net dropped 5% to $23 million. Palo Alto Networks fourth-quarter net loss widened to $38 million. Tech Data second-quarter net rose 2% to $48 million.

Tollbooth Index advanced 32.55 or 0.3% to 12,390.98.

Earnings Review

Ambarella Inc (AMBA), the audio and video chip maker said revenues in the second-quarter ending in July jumped 10% from a year ago to $71.6 million.

Net income in the quarter plunged 61.6% to $3.3 million or 10 cents per diluted share from $8.6 million or 25 cents in the same quarter last year.

The Cooper Companies Inc (COO), the spectacles and contact lenses maker said revenues in the third-quarter ending in July advanced 8% from a year ago to $556 million.

Net income in the quarter soared 17.9% to $103 million or $2.09 per diluted share from $87.9 million or $1.79 in the same quarter last year.

The Cooper estimated fiscal 2017 revenues in the range of $2.13 billion to $2.14 billion and diluted earnings per share between $9.66 and $9.76.

Dow Chemical Co (DOW), the diversified chemicals maker and DuPont said they had successfully completed their planned merger worth about $130 billion to form DowDuPont.

The merger was first announced in December 2015.

DowDuPont said that within 18 months, they plan to split into three independent, publicly traded units, agricultural products manufacturer, materials science and specialty components maker.

“The true value of merger lies in the intended creation of three industry powerhouses that will define their markets,” said executive chairman of DowDuPont Andrew Liveris.

Lululemon Athletica Inc (LULU), the athletic apparel designer and retailer reported net revenues in the second-quarter ending in July jumped 13% from a year ago to $581.1 million.

Comparable store sales in the quarter soared 7%.

Net income in the quarter plummeted 9.1% to $48.7 million or 36 cents per diluted share from $53.6 million or 39 cents in the same quarter last year.

The retailer forecasted net revenue in the range of $2.55 billion to $2.60 billion based on total comparable sales to increase in the low-single digits and diluted earnings per share in the range of $2.04 to $2.11.

Oxford Industries Inc (OXM), the men’s apparel maker stated revenues in the second-quarter ending on July 29 rose 1% from a year ago to $284.7 million.

Net income in the quarter dropped 5% to $22.7 million or $1.36 per diluted share from $23.9 million or $1.44 in the same quarter last year.

The apparels maker reaffirmed fiscal 2017 earnings forecast, revised after the impact of LIFO and purchase accounting and earnings per share is now expected between $3.23 and $3.43 from $3.27 earnings per share in the previous fiscal year.

Net sales is expected to grow to between $1.09 billion and $1.11 billion compared to $1.02 billion in a year ago period.

Palo Alto Networks Inc (PANW), the security platform services provider reported total revenues in the fourth-quarter ending in July surged 27% from a year ago to $509.1 million.

Net loss in the quarter widened to $38.2 million or 42 cents per diluted share from $31.4 million or 35 cents in the same quarter last year.

Palo Alto forecasted fiscal 2018 revenues to jump between 21% and 23% or in the range of $2.13 billion to $2.17 billion, diluted earnings per share between $3.24 and $3.34 and total billings to soar 15% to 18% or in the range of $2.64 to $2.70 billion.

Tech Data Corp (TECD), the technology products wholesale distributor said net sales in the second-quarter ending in July soared 40% from a year ago to $8.9 billion.

Net income in the quarter rose 2% to $47.5 million or $1.24 per diluted share from $46.4 million or $1.31 in the same quarter last year.

Gross profit in the quarter jumped 63% to $515.6 million.

In the third-quarter, the technology provider reaffirmed worldwide net sales in the range of $9 billion to $9.35 billion and diluted earnings per share in the range of 80 cents to $1.
  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc