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STOCK MOVERS

U.S. Movers: Barnes & Noble, Donaldson, Kroger, L Brands, PVH, Semtech


Author: Mukesh Buch
ticker.com
Last Update: 10:43 AM EST November 30 2017

11:45 AM New York – Barnes & Noble plunged after weak forecast. Donaldson lifted fiscal 2018 outlook. Kroger beats third-quarter forecasts. L Brands November comparable sales fell 2%. PVH raises fiscal 2017 revenues forecast. Semtech net plummeted 57%.

Tollbooth Index jumped 105.50 or 0.8% to 13,637.27.

Earnings Review

Barnes & Noble Inc (BKS) plunged 9.9% or 78 cents to $7.03 after the bookseller said total sales in the second-quarter ending on October 28 declined 7.9% from a year ago to $791.1 million.

Comparable store sales in the quarter slumped 6.3%.

Net loss in the quarter widened to $30.1 million or 41 cents per diluted share from $20.4 million or 29 cents in the same quarter last year.

Barnes & Noble forecasted fiscal 2018 comparable sales to decline in the low single digits and comparable store sales to be approximately flat.

Donaldson Company, Inc (DCI) gained 41 cents to $48.91 after the filtration systems maker reported sales in the first-quarter ending in October soared 16.6% from a year ago to $644.8 million.

Net income in the quarter jumped 5% to $60.9 million or 46 cents per diluted share from $58 million or 43 cents in the same quarter last year.

Donaldson lifted fiscal 2018 diluted earnings per share forecast to between $1.90 and $2.40 from the earlier estimate of $1.79 to $1.93 and sales to increase in the range of 10% to 14% from the earlier estimate of 4% to 8%.

Kroger Co (KR) surged 9.6% or $2.31 to $26.69 after the largest independent grocery store operator said total sales in the third-quarter ending on November 4 advanced 4.5% from a year ago to $27.7 billion.

Net income in the quarter rose 1.5% to $397 million or 44 cents per diluted share from $391 million or 41 cents in the same quarter last year.

The food stores operator reaffirmed fiscal 2017 diluted earnings per share estimate in the range of $1.74 to $1.79.

L Brands Inc (LB) jumped 6.5% or $3.44 to $55.95 after the specialty retailer reported net sales in the four-week ending on November 25 increased 2% from a year ago to $1.3 billion and comparable sales decreased 1%.

The retailer said its exit in the swim and apparel categories had negative impact of about 1 percentage point in both total company and Victoria’s Secret comparable sales.

PVH Corp (PVH) fell 1.5% or $2.04 to $135.10 after the apparel manufacturer said revenues in the third-quarter ending on October 29 advanced 5% from a year ago to $2.4 billion.

Net income in the quarter surged 89.3% to $238.7 million or $3.05 per diluted share from $126.1 million or $1.56 in the same quarter last year.

PVH estimated fiscal 2017 revenues growth of about 11% and diluted earnings per share in the range of $1.35 to $1.37 compared to $1.26 in the prior year period.

Semtech Corporation (SMTC) declined 4.2% or $1.55 to $35 after the analog and mixed-signal semiconductor supplier stated net sales in the third-quarter ending on October 29 soared 10% from a year ago to $150.3 billion.

Net income in the quarter plummeted 56.7% to $13.3 million or 20 cents per diluted share from $30.8 million or 46 cents in the same quarter last year.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc