Coty, Kate Spade, Macy's Climb; Fossil, URS Decline

Mukesh Buch
14 May, 2014
New York City

Coty net swung to a loss. Deere & Co net and total sales declined 10%. Fossil profit dropped 8% but revenue soared 14%. Kate Spade net swung to profit on sales increase 33%. Macy''s profit net jumped. Pinnacle Foods net soared 64%. URS net tumbled 63%.

[R]12:20 PM New York – Coty net swung to a loss. Deere & Co net and total sales declined 10%. Fossil profit dropped 8% but revenue soared 14%. Kate Spade net swung to profit on sales increase 33%. Macy''s profit net jumped. Pinnacle Foods net soared 64%. URS net tumbled 63%.[/R]

Coty Inc ((COTY)) jumped 3.6% or 55 cents to $15.99 after the cosmetics and perfumes maker said net revenue in the third-quarter ending in March rose 1% to $1 billion.

Net in the quarter swung to a loss $253.3 million or 66 cents a diluted share compared to profit of $20.4 million or 5 cents.

Celldex Therapeutics, Inc ((CLDX)) surged 25.9% or $3.23 to $15.63 after the biopharmaceutical company entered into clinical trial collaboration to evaluate the safety and preliminary efficacy of nivolumab, Bristol-Myers Squibb''s investigate PD-1 immune checkpoint inhibitor and varlilumab.

Celldex''s CD27 targeting investigational antibody in a Phase 1/2 study.

Deere & Company ((DE)) slipped 1.8% or $1.74 to $92.06 after the agricultural and turf equipment maker reported total sales in the second-quarter ending in March declined 10% to $9.25 billion.

Net income in the quarter plunged 10% to $980.7 million or $2.65 a diluted share compared to $1.08 billion or $2.76.

Fossil Group Inc ((FOSL)) plunged 8.1% or $9.04 to $102.41 after the watches and jewelry designer stated net sales in the first-quarter ending on April 5 soared 14% to $776.5 million.

Net income in the quarter dropped 8.2% to $66.3 million or $1.22 a diluted share compared to $72.2 billion or $1.21.

Kate Spade & Co ((KATE)) climbed 7.9% or $2.75 to $37.40 after the luxury retailer said net sales in the first-quarter ending on April 5 jumped 33.5% to $328.1 million.

Net in the quarter swung to profit of $46.2 million or 37 cents a diluted share compared to a loss of $52.2 million or 44 cents.

Macy''s, Inc ((M)) gained 1.2% or 71 cents to $58.55 after the consumer goods retailer reported sales in the first-quarter ending on May 3 dropped 1.7% to $6.28 billion. Comparable sales in the quarter declined 1.6%.

Net income in the quarter jumped 3.2% to $224 million or 60 cents a diluted share compared to $217 million or 55 cents.

The retailer forecasted comparable sales for the year to increase in the range of 2.5% to 3% and reiterated for earnings per diluted share between $4.40 and $4.50.

Pinnacle Foods Inc ((PF)) fell 20 cents to $33.80 after the branded food products maker stated net sales in the first-quarter ending in March climbed 5.1% to $644 million.

Net earnings in the quarter soared 64.1% to $40.7 million or 35 cents a diluted share compared to $24.8 million or 29 cents.

URS Corp ((URS)) plummeted 7.9% or $3.75 to $43.44 after the engineering, construction company revenues in the first-quarter ending on April 4 declined 10.7% to $2.5 billion.

Net income in the quarter tumbled 62.5% to $27 million or 37 cents a diluted share compared to $72 million or 96 cents.