J.C. Penney Same Store Sales Jump 4.1%, Nordstrom Net Rises 15%

Mukesh Buch
14 Aug, 2015
New York City

Goldman Sachs agreed to acquire GE Capital Bank

[R]12:45 PM New York – Goldman Sachs agreed to acquire GE Capital Bank’s online banking business. Applied Materials net jumped 9%.Aspen Technology revenues and profit soared. J.C. Penney net loss narrowed. Nordstrom profit soared 15.3%. Party City net plunged 44%.[/R]

Tollbooth Index increased 19.25 or 0.2% to 10,843.02.

Earnings Review

Applied Materials, Inc ((AMAT)) declined 4.5% or 78 cents to $16.29 after the flat panel display maker reported revenues in the third-quarter ending on July 26 soared 10.2% to $2.49 billion from a year ago period.

Net income in the quarter jumped 9.3% to $329 million or 27 cents per diluted share compared to $301 million or 24 cents from the same quarter last year.

The company forecasted revenues for the fourth-quarter may drop 7% on sequential basis and earnings per share in the range of 27 cents to 31 cents.

Aspen Technology, Inc ((AZPN)) plunged 11.9% or $5.01 to $36.99 after the software solution provider revenues in the fourth-quarter ending in June jumped 12.5% to $114.2 million form a year ago period.

Net income in the quarter soared 15.4% to $30.8 million or 36 cents per diluted share compared to $26.7 million or 29 cents from the same quarter last year.

Goldman Sachs Group Inc ((GS)) rose 88 cents to $201.62 after the financial services provider agreed to acquire GE Capital Bank’s online banking business from General Electric Co without disclosing of financial terms.

J.C. Penney Company Inc ((JCP)) soared 6.3% or 51 cents to $8.57 after the department stores operator reported sales in the second-quarter ending on August 1 increased 2.9% to $2.88 billion from a year ago period.

Same store sales in the quarter jumped 4.1%

Net loss in the quarter narrowed to $138 million or 45 cents per diluted share compared to $172 million or 56 cents from the same quarter last year.

Nordstrom, Inc ((JWN)) jumped 5.4% or $4.02 to $78.94 after the specialty fashion retailer said net sales in the second-quarter ending on August 1 increased 9.2% to $3.6 billion from a year ago period.

Same store sales in the quarter soared 4.9%

Net income in the quarter jumped 15.3% to $211 million or $1.09 per diluted share compared to $183 million or 95 cents from the same quarter last year.

The retailer lifted net sales estimate for the year to grow in the range of 8.5% to 9.5% from the earlier forecasted growth rate between 7% and 9% and earnings per share in the range of $3.85 to $3.95 from the previous guidance between $3.65 and $3.80.

Party City Holdco Inc ((PRTY)) declined 6.1% or $1.16 to $17.73 after the party goods retailer stated total revenues in the second-quarter ending in June edged up 0.8% to $495.5 million from a year ago period.

Comparable store sales in the quarter increased 1.2%

Net income in the quarter plunged 44% to $130 million or 66 cents per diluted share compared to $232 million or $1.13 from the same quarter last year.

The company forecasted total revenue for the year in the range of $2.25 billion to $2.35 billion and comparable sales to rise slightly below 3% while diluted earnings per share between 98 cents and $1.07.