Accenture, Rite Aid Climb; ConAgra, Scholastic Drop

Mukesh Buch
18 Dec, 2014
New York City

Accenture net soared 11% on 7% increase in revenues. Actuant net declined 31%. ACE agreed to acquire the U.S.-based Fireman''''s Fund from Allianz SE for $365 million. ConAgra profit tumbled 96% and sales dropped 2%. Rite Aid net surged 47%. Scholastic net soared 18%.

[R]2:10 PM New York – Accenture net soared 11% on 7% increase in revenues. Actuant net declined 31%. ACE agreed to acquire the U.S.-based Fireman's Fund from Allianz SE for $365 million. ConAgra profit tumbled 96% and sales dropped 2%. Rite Aid net surged 47%. Scholastic net soared 18%.[/R]

Tollbooth Strategy Index jumped 1.1% or 108.08 to 9,941.64.

Earnings Review

Accenture Plc ((ACN)) climbed 5.1% to 89.57 pence after the Ireland-based global outsourcing service provider with a significant staff in India reported revenues in the first-quarter ending in November jumped 7% to $7.9 billion from a year ago period.

Net income in the quarter soared 10.5% to $831.5 million or $1.29 a diluted share compared to $751.8 million or $1.15 from a same quarter last year.

The company forecasted net revenues for the second-quarter in the range of $7.25 billion to $7.50 billion and for the fiscal year estimated revenue to increase between 5% to 8% and diluted earnings per share in the range of $4.66 to $4.80.

Actuant Corporation ((ATU)) slipped 1.7% or 48 cents to $28.18 after the industrial product maker said total sales in the first-quarter ending in November fell 3% to $327.8 million from a year ago period.

Net income in the quarter declined 31.4% to $24.7 million or 38 cents a diluted share compared to $36 million or 44 cents from a same quarter last year.

ACE Limited ((ACE)) rose 64 cents to $113.34 after the insurance and reinsurance company agreed to acquire the U.S.-based Fireman's Fund high net worth personal insurance business from Allianz SE for $365 million.

The transaction is expected to close in the second-quarter of 2015.

ConAgra Foods Inc ((CAG)) declined 3.3% or $1.23 to $35.87 after the packaged food company reported net sales in the second-quarter ending on November 23 fell 1.7% to $4.15 billion from a year ago period.

Net income in the quarter tumbled 96% to $10 million or 2 cents a diluted share compared to $248.7 million or 58 cents from a same quarter last year.

Rite Aid Corporation ((RAD)) soared 11.8% or 72 cents to $6.78 after the drugstore chain retailer reported total sales in the third-quarter ending in November jumped 4.7% to $6.7 billion from a year ago period. Same store sales in the quarter climbed 5.4%.

Net income in the quarter surged 46.6% to $104.7 million or 10 cents a diluted share compared to $71.5 million or 4 cents from a same quarter last year.

Scholastic Corp ((SCHL)) dropped 2.9% or $1.01 to $33.90 after the publishing, education and media company said revenues in the second-quarter ending in November climbed 6.8% to $665.6 million from a year ago period.

Net income in the quarter soared 17.5% to $68.5 million or $2.05 a diluted share compared to $58.3 million or $1.80 from a same quarter last year.