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STOCK MOVERS

U.S. Movers: Best Buy, Catalent, Hain Celestial, Movado, J.Jill, PAREXEL Intl


Author: Mukesh Buch
ticker.com
Last Update: 12:20 PM ET August 29 2017

12:10 PM New York – Best Buy lifted fiscal outlook but cautioned on operating margins and sales growth outlook. Catalent soared on the revenue surge. Hain Celestial raised fiscal forecast. Movado surged despite net declined 13%. J.Jill tumbled. PAREXEL International net declined.

Tollbooth Index fell 17.17 to 12,211.47.

Earnings Review

Best Buy Co Inc (BBY) plunged 10.9% or $6.81 to $55.64 after the technology products provider reported revenues in the second-quarter ending on July 29 jumped 4.7% from a year ago to $8.9 billion.

Comparable store sales in the quarter advanced 5.4%.

Net income in the quarter soared 5.5% to $209 million or 67 cents per diluted share from $198 million or 61 cents in the same quarter last year.

The retailer forecasted fiscal 2018 revenues to grow 4% or in the range of $9.3 billion to $9.4 billion and Non-GAAP diluted earnings per share in the range of 75 cents to 80 cents.

Best Buy estimated fiscal 2018 comparable store sales growth between 4.5% and 5.5% and domestic comparable sales growth in the range of 4.5% to 5.5% and international comparable sales growth between flat and 3% increase.

Catalent Inc (CTLT) surged 11.7% or $4.14 to $39.50 after the consumer and animal health products maker said revenues in the fourth-quarter ending in June soared 16% from a year ago to $616.9 million.

Net income in the quarter jumped 6.4% to $61.8 million or 49 cents per diluted share from $58.1 million or 46 cents in the same quarter last year.

Catalent forecasted fiscal 2018 revenue in the range of $2.16 billion to $2.24 billion and operating profit between $477 million and $497 million and net income in the range of $192 million to $212 million.

Hain Celestial Group Inc (HAIN) gained 24 cents to $40.85 after the food ingredients maker reported net sales in the fourth-quarter ending in June fell 2% from a year ago to $725.1 million.

Net in the quarter swung to profit $313 million from a loss of $88.6 million or 86 cents in the same quarter last year.

The food ingredients maker forecasted fiscal 2018 total sales to increase between 4% and 6% or in the range of $2.97 billion to $3.04 billion from a year ago period and diluted earnings per share to soar in the range of 34% to 48% or between $1.63 and $1.80.

Movado Group, Inc (MOV) surged 16.9% or $4.05 to $27.90 after the watches designer and distributor said net sales in the fourth-quarter ending in July rose 0.5% from a year ago to $128.8 million.

Net income in the quarter declined 12.7% to $5.5 million or 24 cents per diluted share from $6.3 million or 27 cents in the same quarter last year.

Movado estimated fiscal 2018 net sales in the range of $530 million to $545 million. Operating profit of about $53 million to $58 million, net income in the range of $35.5 million to $38.8 million and diluted earnings per share between $1.50 and $1.65.

J.Jill Inc (JILL) tumbled 15.7% or $1.84 to $9.89 after the women’s specialty retailer stated total net sales in the second-quarter ending on July 29 soared 9.9% from a year ago to $181.4 million.

Comparable store sales in the quarter surged 7.8%.

Net income in the quarter jumped 48.1% to $12 million or 28 cents per diluted share from $8.1 million or 19 cents in the same quarter last year.

In the fiscal 2017, the retailer forecasted total comparable sales to increase in the high single digits and diluted earnings per share in the range of 73 cents to 77 cents.

PAREXEL International Corporation (PRXL) edged up 1 cent to $87.76 after the biopharmaceutical outsourcing services provider said revenues in the fourth-quarter ending in June increased 3.8% from a year ago to $557.2 million.

Net income in the quarter declined 30% to $29.9 million or 58 cents per diluted share from $42.7 million or 80 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