Icahn and J C Penney Net Swing to Loss; Ross Stores Jumps

Mukesh Buch
27 Feb, 2015
New York City

Autodesk net tumbled 79% but revenues soared 13%. Barnes & Noble plans to spin off the college bookstore division. CST Brands net surged 177% while revenues declined 11%. Icahn Enterprises and J C Penney net swung to a loss. KBR net loss widened. Ross Stores profit climbed 14%.

[R]12:05 PM New York – Autodesk net tumbled 79% but revenues soared 13%. Barnes & Noble plans to spin off the college bookstore division. CST Brands net surged 177% while revenues declined 11%. Icahn Enterprises and J C Penney net swung to a loss. KBR net loss widened. Ross Stores profit climbed 14%.[/R]

Tollbooth Index nearly gained 0.2% or 23.19 to 10,748.39.

Earnings Review

Autodesk, Inc ((ADSK)) climbed 5.6% or $3.44 to $64.45 after the business application service provider said total revenues in the fourth-quarter ending in January soared 13.3% to $664.6 million from a year ago period.

Net income in the quarter tumbled 78.7% to $11.5 million or 5 cents per diluted share compared to $53.9 million or 23 cents from the same quarter last year.

The company added total subscriptions in the year jumped by 385,000 to 2.23 million higher than the estimated in November.

Autodesk forecasted adjusted earnings per share for the first-quarter between of 25 cents and 30 cents and revenue in the range of $625 million to $645 million.

Barnes & Noble, Inc ((BKS)) slumped 2.3% or 59 cents to $25.33 after the bookseller announced it will spin-off the college bookstore division Barnes & Noble Education, as a publicly traded company.

Originally, the company planned to spin off the college division along with the Nook e-reader division.

CST Brands Inc ((CST)) dropped 2.9% or $1.30 to $42.71 after the discount store operator said revenues in the fourth-quarter ending in December declined 11.7% to $2.70 billion from a year ago period. Same-store sales in the quarter increased in both the U.S. and Canada.

Net income in the quarter surged 176.5% to $94 million or $1.21 per diluted share compared to $34 million or 44 cents from the same quarter last year.

Icahn Enterprises LP ((IEP)) fell 49 cents to $99.02 after the diversified investment company reported revenues in the fourth-quarter ending in December climbed 7% to $3.4 billion from a year ago period.

Net in the quarter swung to a loss of $478 million or $3.84 per diluted share compared to profit of $222 million or $1.90 from the same quarter last year.

J C Penney Company Inc ((JCP)) plunged 6.6% or 60 cents to $8.52 after the department store operator reported total sales in the fourth-quarter ending in January jumped 2.9% to $3.89 billion from a year ago period. Comparable store sales in the quarter climbed 4.4% and online sales soared 12.5% to $428 million.

Net in the quarter swung to a loss of $59 million or 19 cents per diluted share compared to profit of $35 million or 11 cents from the same quarter last year.

KBR, Inc ((KBR)) tumbled 10.7% or $1.91 to $15.98 after the construction and service provider said net sales in the fourth-quarter ending on December plunged 15.5% to $1.42 billion from a year ago period.

Net loss in the quarter widened to $1.24 billion or $8.57 per diluted share compared to $56 million or 38 cents from the same quarter last year.

Ross Stores, Inc ((ROST)) surged 6.7% or $6.52 to $105.68 after the off-price apparel and home fashion retailer said total sales in the fourth-quarter ending in January climbed 11% to $3.03 billion from a year ago period. Comparable store sales in the quarter jumped 6%.

Net income in the quarter climbed 14% to $248.5 million or $1.20 per diluted share compared to $217.95 million or $1.02 from the same quarter last year.

The retailer forecasted comparable store sales to increase between 2% and 3% and earnings per share in the range of $1.21 to $1.26, up from $1.15 for the same period last year.

For the fiscal 2015, the company forecasted same store sales to increased 1% to 2% and earnings per share between $4.60 and $4.80, up from $4.42 of fiscal 2014.