BlackBerry Swings to Quarterly Profit, Kroger Net Rises

Mukesh Buch
19 Jun, 2014
New York City

BlackBerry net swung to profit. Clarcor net jumped 5%. IHS profit and revenue surged. Kroger net advanced 4.2% on 10% rise in sales. Rite Aid net plunged 54%. Red Hat dropped 7% but revenue soared 17%.

[R]11:35 AM New York – BlackBerry net swung to profit. Clarcor net jumped 5%. IHS profit and revenue surged. Kroger net advanced 4.2% on 10% rise in sales. Rite Aid net plunged 54%. Red Hat dropped 7% but revenue soared 17%.[/R]

BlackBerry Limited ((BBRY)) surged 12.1% or $1.01 to $9.30 after the Canada-based mobile communication devices maker stated revenues in the first-quarter ending on May 24 decreased 1% to $966 million.

Net in the quarter swung to profit $23 million or 37 cents a diluted share compared to a loss of $423 million or 80 cents.

In the quarter, BlackBerry booked revenues for 2.6 million smartphone sales, an increase from 1.3 million devices in the previous quarter.

Clarcor Inc ((CLC)) soared 5.9% or $3.49 to $62.29 after the filtration products provider said net sales in the second-quarter ending in May surged 34% to $386.6 million.

Net earnings in the quarter jumped 5% to $34.6 million or 68 cents a diluted share compared to $33.1 million or 66 cents.

IHS Inc. ((IHS)) increased 3.8% or $4.95 to $135.14 after the professional information services reported total net revenues in the second-quarter ending in May surged 36% to $568 million.

Net income in the quarter soared 28% to $55 million or 81 cents a diluted share compared to $43 million or 65 cents.

The Kroger Co ((KR)) climbed 5.8% or $2.76 to $50.03 after the food retailer said total net revenues in the first-quarter ending on May 24 climbed 9.9% to $33 billion.

Net income in the quarter advanced 4.2% to $501 million or 98 cents a diluted share compared to $481 million or 92 cents.

Rite Aid Corporation ((RAD)) dropped 2.8% or 20 cents to $7.23 after the drugstore chain reported revenue in the first-quarter end in May rose 2.7% to $6.5 billion.

The company said same-store sales in the quarter jumped 3.1% and front-end same-store sales were flat while pharmacy same-store sales climbed 4.6%. The number of prescriptions filled in same-stores increased 2.3%.

Net income in the quarter plunged 53.8% to $41.4 million or 4 cents a diluted share compared to $89.7 million or 9 cents.

Rite Aid confirmed sales are expected for the year between $26 billion and $26.5 billion and same-store sales to increase in the range of 2.5% to 4.5% and net income to jump between $298 million and $408 million and diluted income per share in the range of 30 cents to 40 cents.

Red Hat Inc ((RHT)) jumped 3.5% or $1.88 to $54.98 after the open source software developer said revenue in the first-quarter ending in May soared 17% to $424 million.

Net income in the quarter dropped 6.7% to $37.7 million or 20 cents a diluted share compared to $40.4 million or 21 cents.