U.S. Movers: Best Buy, Dick's Sporting, Home Depot, J. C. Penney, TJX

Mukesh Buch
20 Aug, 2013
New York City

Best Buy net surged to $266 million. Dick''''''''s Sporting net surged 57%. Home Depot profit soared 18%. J. C. Penney reported net loss widened. Medtronic net jumped 10% and TJX net soared 14%.

[R]10:50 AM New York – Best Buy net surged to $266 million. Dick''s Sporting net surged 57%. Home Depot profit soared 18%. J. C. Penney reported net loss widened. Medtronic net jumped 10% and TJX net soared 14%.[/R]

Best Buy Co. ((BBY)) surged 9.8% or $3.04 to $33.78 after the electronics retailer reported total revenues in the second-quarter ending on August 4 were flat to $9.3 billion. Comparable store sales in the quarter slipped 1.8%.

Net income in the quarter surged to $266 million or 77 cents a diluted share compared to $12 million or 4 cents.

The company added gross profit in the second-quarter jumped 9% to $2.47 billion and operating income soared above three-fold to $413 million.

Daktronics, Inc. ((DAKT)) climbed 3.9% or 42 cents to $11.01 after the digital scoreboards provider stated net sales in the third-quarter ending on July 27 grew 4% to $138.7 million. Net income in the quarter tumbled 15% to $5.7 million or 13 cents a diluted share compared to $6.7 million or 16 cents.

Dick''s Sporting Goods, Inc ((DKS)) declined 6.1% or $3.07 to $47.50 after the sporting goods retailer said net sales in the second-quarter ending on August 3 rose 7% to $1.5 billion. Consolidated same store sale in the quarter decreased 0.4%.

Net income in the quarter surged 57% to $84.2 million or 67 cents a diluted share compared to $53.7 million or 43 cents.

For the year, the company expects diluted earnings per share between $2.60 and 2.65.

For the third-quarter, the company expects diluted earnings per share in the range of 37 cents to 39 cents. For the fourth-quarter, the company expects diluted earnings per share between $1.04 and 1.07.

The Home Depot, Inc ((HD)) slid 27 cents to $74.94 after the home improvement retailer reported net sales in the second-quarter ending on August 4 advanced 9% to $22.5 billion. Comparable store sales in the quarter surged 10.4%.

Net earnings in the quarter soared 18% to $1.80 billion or $1.24 a diluted share compared to $1.53 billion or $1.01.

J. C. Penney Company, Inc. ((JCP)) fell 6 cents to $13.16 after the department stores operator said net sales in the second-quarter ending on August 3 declined 12% to $2.66 billion. Comparable store sales in the quarter surged 11.9%.

Net loss in the quarter widened to $586 million or $2.66 a diluted share compared to $147 million or 67 cents.

Medtronic, Inc. ((MDT)) slipped 2.4% or $1.28 to $52.82 after the medical equipment maker reported revenue in the first-quarter ending on July 26 increased 2% to $4.08 billion. Net income in the quarter jumped 10% to $953 million or 93 cents a diluted share compared to $864 million or 83 cents.

For the year, the company expects diluted earnings per share in the range of $3.80 to $3.85.

The TJX Companies, Inc ((TJX)) jumped 5.2% or $2.66 to $53.41 after the off-price retailer stated net sales in the second-quarter ending on August 3 climbed 12% to $2.66 billion. Comparable store sales in the quarter grew 4%.

Net income in the quarter soared 14% to $479.6 million or 66 cents a diluted share compared to $421.1 million or 56 cents.

For the third quarter, the company expects diluted earnings per share in the range of 69 cents to 72 cents.

For the year, the company expects diluted earnings per share between $2.74 and $2.80.

Urban Outfitters, Inc ((URBN)) soared 9.1% or $3.65 to $43.57 after the lifestyle specialty retailer reported total net sales in the second-quarter ending in July jumped 12% to $758.5 million. Comparable store sales in the quarter climbed 9%.

Net income in the quarter soared 24.6% to $76.4 million or 51 cents a diluted share compared to $61.3 million or 42 cents.