CF Ind and Yara in $2.7 B Merger Talks; Ascena Retail, CarMax Plunge

Mukesh Buch
23 Sep, 2014
New York City

Ascena Retail net rose but sales dropped. Boeing received an order from Ethiopian Airlines valued at list price of $2.1 billion. CF Industries is in merger talk with Yara International. Carnival net surged 37%. CarMax net and revenue soared 10%. Ennis net rose 2%.

[R]12:05 PM New York – Ascena Retail net rose but sales dropped. Boeing received an order from Ethiopian Airlines valued at list price of $2.1 billion. CF Industries is in merger talk with Yara International. Carnival net surged 37%. CarMax net and revenue soared 10%. Ennis net rose 2%.[/R]

Tollbooth Index fell 0.1% or 13.14 to 9,354.64.

Earnings Review

Ascena Retail Group Inc ((ASNA)) tumbled 16.8% or $2.77 to $13.76 after the specialty retailer said net sales in the fourth-quarter ending on July 26slipped 1.7% to $1.18 billion from a year ago period.

Net income in the quarter increased 1.3% to $15.7 million or 10 cents a diluted share compared to $29.8 million or 18 cents from a same quarter last year.

The Boeing Company ((BA)) slipped 99 cents to $127.62 after the aerospace company received an order from Ethiopian Airlines for 20 - 737 Max 8 aircraft with a list price of $2.1 billion.

CF Industries Holdings, Inc ((CF)) climbed 5.2% or $13.24 to $269.02 after the fertilizer products maker is in talk with Norway-based Yara International ASA for a possible merger valued at $2.7 billion.

Carnival Corporation ((CCL)) rose 24 cents to $40.59 after the cruise operator reported revenue in the third-quarter ending in August jumped 4.6% to $4.95 billion from a year ago period.

Net income in the quarter surged 36.7% to $1.25 billion or $1.60 a diluted share compared to $934 million or $1.20 from a same quarter last year.

CarMax, Inc ((KMX)) plunged 8.8% or $4.64 to $48.17 after the car dealer said net sales in the second-quarter ending in August climbed 10.9% to $3.60 billion from a year ago period.

Net earnings in the quarter soared 10.2% to $154.5 million or 70 cents a diluted share compared to $140.3 million or 62 cents from a same quarter last year.

The company said used unit sales in comparable stores increased 0.2% and total used unit sales rose 6.3%. Total wholesale unit sales climbed 7.4% and new vehicles sales surged 18%.

Ennis, Inc ((EBF)) slid 4 cents to $13.25 after the printing service provider stated net sales in the second-quarter ending in August jumped 12.2% to $151.8 million from a year ago period.

Net earnings in the quarter rose 2% to $10 million or 39 cents a diluted share compared to $9.8 million or 38 cents from a same quarter last year.