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STOCK MOVERS

U.S. Movers: Argan, Finisar, Hurco, Kroger, Rev Group, VeriFone, Zumiez


Author: Mukesh Buch
ticker.com
Last Update: 1:08 PM EDT September 08 2017

1:00 PM New York Argan earnings beat estimates. Finisar declined on weak fiscal outlook. Hurco profit jumped on strong demand. Kroger net declined on price cuts. Rev Group jumped after strong results. Tailored Brands beat profit expectation. VeriFone net loss widened.

Tollbooth Index fell 18.10 or 0.2% to 12,415.58.

Earnings Review

Argan, Inc (AGX) advanced 2.5% or $1.55 to $64.15 after the engineering construction services provider said revenues in the second-quarter ending in July surged 60% from a year ago to $259.8 million.

Net income in the quarter soared 38% to $27.1 million or $1.72 per diluted share from $19.7 million or $1.29 in the same quarter last year.

Finisar Corporation (FNSR) declined 5.2% or $1.14 to $20.85 after the optical cables network provider reported revenues in the first-quarter ending in July declined 4.4% from a year ago to $341.8 million.

Net income in the quarter plunged 16.7% to $19.9 million or 17 cents per diluted share from $23.9 million or 22 cents in the same quarter last year.

Finisar forecasted fiscal 2018 second-quarter revenues in the range of $322 million to $342 million and non-GAAP gross margin between 33% and 34% and non-GAAP diluted earnings per share in the range of 27 cents to 33 cents.

Hurco Companies, Inc (HURC) increased 2.7% or 90 cents to $34.75 after the industrial technology provider stated revenues in the third-quarter ending in July soared 16% from a year ago to $60.8 million.

Net income in the quarter jumped 44.4% to $3.9 million or 58 cents per diluted share from $2.7 million or 40 cents in the same quarter last year.

Kroger Co (KR) plunged 8.2% or $1.87 to $20.90 after the supermarkets and convenience stores operator reported total sales in the second-quarter ending on August 12 jumped 3.9% from a year ago to $27.6 billion.

Net income in the quarter plummeted 7.8% to $353 million or 39 cents per diluted share from $383 million or 40 cents in the same quarter last year.

The food stores operator aggressively discounted prices to meet the growing competition from Wal-Mart, wholesale clubs and other retailers.

Kroger reaffirmed fiscal 2017 diluted earnings per share in the range of $1.74 to $1.79 share.

Rev Group Inc (REVG) soared 6.7% or $1.69 to $27.08 after the specialty vehicles maker said revenues in the third-quarter ending in July surged 12.8% from a year ago to $595.6 million.

Net income in the quarter jumped 16% to $15.2 million or 23 cents per diluted share from $13.1 million or 25 cents in the same quarter last year.

The specialty vehicles maker reaffirmed fiscal 2017 revenues in the range of $2.3 billion to $2.4 billion and operating profit between $157 million and $162 million and net income in the range of $36 million to $39 million.

Tailored Brands Inc (TLRD) increased 2.5% or 33 cents to $13.49 after the specialty apparel retailer said total sales in the first-quarter ending on July 29 rose 6.5% from a year ago to $850.8 million.

Comparable store sales in the quarter increased 0.1%.

Net income in the quarter more than doubled to $58.5 million or $1.19 per diluted share from $25 million or 51 cents in the same quarter last year.

VeriFone Systems Inc (PAY) fell 10 cents to $19.32 after the payments solutions provider reported revenues in the third-quarter ending in July slumped 4.3% from a year ago to $466.9 million.

Net loss in the quarter widened to $71 million or 63 cents per diluted share from $31.1 million or 28 cents in the same quarter last year.

Zumiez Inc (ZUMZ) surged 22.4% or $2.95 to $16.15 after the apparel, footwear and accessories retailer said total sales in the first-quarter ending on July 29 jumped 7.8% from a year ago to $192.2 million.

Comparable store sales in the quarter advanced 4.7%.

Net loss in the quarter narrowed to $0.6 million or 2 cents per diluted share from $0.8 million or 3 cents in the same quarter last year.

The retailer forecasted fiscal third-quarter net sales in the range of $236 to $241 million and diluted earnings per share between 43 cents and 48 cents and comparable sales growth in the range of 4% to 6%.
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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