Home Depot, Ophthotech Jump; Cato, Dicks Sporting, Staples, TJX Drop

Mukesh Buch
20 May, 2014
New York City

Cato net fell 3% but sales jumped. Dicks Sporting net jumped 5%. Donaldson net slid 4%. Home Depot profit climbed 13%. Medtronic net tumbled 54%. Staples net plummeted 43%. TJX net edged up 0.3%.

[R]12:05 PM New York – Cato net fell 3% but sales jumped. Dicks Sporting net jumped 5%. Donaldson net slid 4%. Home Depot profit climbed 13%. Medtronic net tumbled 54%. Staples net plummeted 43%. TJX net edged up 0.3%.[/R]

The Cato Corporation ((CATO)) plummeted 8.2% or $2.51 to $27.90 after the women’s fashion specialty retailer said net sales in the first-quarter ending on May 4 jumped 6% to $282.5 million. Same store sales in the quarter increased 3%.

Net income in the quarter fell 3% to $30 million or $1.04 a diluted share compared to $30.8 million or $1.05.

Dicks Sporting Goods Inc ((DKS)) plunged 16.6% or $8.85 to $44.31 after the golf specialty retailer net sales in the first-quarter ending on May 3 increased to $1.44 billion.

Net income in the quarter jumped 4.9% to $69.98 million or 57 cents a diluted share compared to $64.82 million or 52 cents.

Donaldson Company, Inc ((DCI)) declined 4.8% or $2.08 to $40.86 after the filtration systems maker stated net sales in the third-quarter ending in the April rose 1% to $624 million.

Net earnings in the quarter slid 4% to $67 million or 46 cents a diluted share compared to $70 million or 46 cents.

The Home Depot, Inc ((HD)) jumped 2.9% or $2.19 to $78.69 after the home improvement retailer reported net sales in the first-quarter ending on May 4 increased 2.9% to $19.7 billion.

Net earnings in the quarter climbed 12.5% to $1.38 billion or $1 a diluted share compared to $1.23 billion or 83 cents.

Medtronic, Inc ((MDT)) dropped 2.5% or $1.53 to $58.80 after the medical technology reported revenue in the fourth-quarter ending on April 25 jumped 3% to $4.6 billion.

Net earnings in the quarter tumbled 53.7% to $448 million or 44 cents a diluted share compared to $969 million or 95 cents.

Ophthotech Corp ((OPHT)) surged 21.3% or $6.70 to $38.25 after the biopharmaceutical company signed agreement with Novartis Pharmaceuticals on treatment of wet age-related macular degeneration and granted exclusive rights to commercialize its Fovista outside the United States.

Staples, Inc ((SPLS)) tumbled 12.1% or $1.62 to $11.78 after the office products retailer stated total sales in the first-quarter ending on May 3 fell 2.8% to $5.65 billion.

Net income in the quarter plummeted 43.5% to $96 million or 15 cents a diluted share compared to $170 million or 26 cents.

The TJX Companies, Inc ((TJX)) plunged 6.1% or $3.58 to $54.82 after the apparel and home fashions retailer reported net sales in the first-quarter ending on May 3 jumped 5% to $6.5 billion. Comparable store sales in the quarter rose 1%.

Net income in the quarter edged up 0.3% to $454.3 million or 64 cents a diluted share compared to $452.9 million or 62 cents.