Netflix, Rises; American Eagle, Salesforce.com, Target, Tiffany Fall

Mukesh Buch
21 May, 2014
New York City

American Eagle net plunged 86% on 4% sales decline. Lowe

[R]11:50 AM New York – American Eagle net plunged 86% on 4% sales decline. Lowe’s net climbed 16%. Netflix plans to expand in Europe later in this year. Salesforce.com net loss widened. Target profit declined 16%. Tiffany net surged 50%.[/R]

American Eagle Outfitters, Inc ((AEO)) fell 1.3% or 14 cents to $10.64 after the specialty retailer said total revenue in the first-quarter ending on May 3 fell 4% to $646 million. Comparable store sales in the quarter declined 10%.

Net income in the quarter plunged 86.1% to $3.9 million or 2 cents a diluted share compared to $28.0 million or 14 cents.

Lowe’s Companies, Inc ((LOW)) rose 2 cents to $46.91 after the home improvement retailer reported net sales in the first-quarter ending on May 2 rose 2.4% to $13.4 billion. Comparable store sales in the quarter rose 0.9%.

Net income in the quarter climbed 15.6% to $624 million or 61 cents a diluted share compared to $540 million or 49 cents.

Netflix, Inc ((NFLX)) gained $2.44 to $394.24 after the pay television services provider plans to expand in Europe later in this year in Germany, Austria, Switzerland, France, Belgium and Luxembourg.

Salesforce.com, Inc ((CRM)) slipped 18 to $53.09 after the cloud computing services provider reported revenue in the first-quarter ending in April surged 37% to $1.23 billion.

Net loss in the quarter widened to $96.9 million or 16 cents a diluted share compared to $67.7 million or 12 cents.

The company forecasted revenue for the second-quarter in the range of $1.28 billion to $1.29 billion, an increase of 34% to 35% from a year ago and loss per share between 13 cents and 12 cents.

For the year, the company lifted its revenue forecast between $5.30 billion and $5.34 billion, an increase of 30% to 31% from a year earlier and loss per share in the range of 49 cents to 47 cents.

Target Corporation ((TGT)) fell 20 cents to $55.79 after the discount store stated sales in the first-quarter ending on May 3 increased 2.1% to $17.1 billion. Comparable store sales in the quarter slid 0.3%.

Net earnings in the quarter declined 16% to $418 million or 66 cents a diluted share compared to $498 million or 77 cents.

Tiffany & Co. ((TIF)) slipped 25 cents to $96.31 after the jewelry and watch retailers reported sales in the first-quarter ending on May 3 climbed 13% to $1 billion. Comparable store sales in the quarter jumped 11%.

Net earnings in the quarter surged 50% to $126 million or 97 cents a diluted share compared to $84 million or 65 cents.