FedEx Wins European Approval for TNT; Acuity Brands, PriceSmart Fall

Mukesh Buch
08 Jan, 2016
New York City

Acuity Brands net jumped 34%. Bed Bath & Beyond profit tumbled 21%. FedEx won a regulatory approval to acquire TNT Express. PriceSmart net soared 15%. Synnex net advanced 9%. WD-40 net jumped 12%.

[R]10:50 AM New York – Acuity Brands net jumped 34%. Bed Bath & Beyond profit tumbled 21%. FedEx won a regulatory approval to acquire TNT Express. PriceSmart netsoared 15%. Synnex net advanced 9%. WD-40 net jumped 12%.[/R]

Tollbooth Index increased 37.93 or 0.4% to 10,297.78.

Earnings Review

AZZ Inc ((AZZ)) soared 4.3% or $2.17 to $52.70 after the welding services provider said revenues in the third-quarter ending in November jumped 7.8% from a year ago to $242.4 million.

Net income in the quarter surged 17.9% to $23.5 million or 91 cents per diluted share compared to $20 million or 77 cents per share from the same quarter last year.

Acuity Brands, Inc ((AYI)) declined 4.7% or $10.53 to $213.31 after the lighting solutions provider reported net sales in the first-quarter ending in November soared 14% from a year ago to $736.6 million.

Net income in the quarter jumped 34% to $68.4 million or $1.57 per diluted share compared to $51.1 million or $1.17 per share from the same quarter last year.

Bed Bath & Beyond Inc ((BBBY)) rose 5 cents to $46.49 after the home furnishings retailer said revenues in the third-quarter ending on November 28 edged up 0.3% from a year ago to $2.95 billion.

Comparable store sales in the quarter slipped 0.4%.

Net income in the quarter tumbled 21.1% to $177.8 million or $1.09 per diluted share compared to $225.4 million or $1.23 per share from the same quarter last year.

The retailer forecasted net earnings per diluted share in the fiscal fourth-quarter in the range of $1.72 to $1.86 and comparable sales in the fourth-quarter relatively flat or an increase of about 2%.

The company estimated net earnings per diluted share in the year between $4.91 and $5.05 and comparable sales in the range of 0.6% to 1.1%.

FedEx Corporation ((FDX)) rose 84 cents to $135.43 after the European Commission approved the purchase of The Netherlands based TNT Express N.V.

Hurco Companies, Inc ((HURC)) jumped 4.3% or $1.10 to $26.55 after the machine tools maker stated sales in the fourth-quarter ending in October increased 5.6% from a year ago to $65.7 million.

Net income in the quarter fell 2% to $4.8 million or 72 cents per diluted share compared to $4.9 million or 74 cents per share from the same quarter last year.

PriceSmart, Inc ((PSMT)) slumped 3.6% or $2.82 to $75.37 after the warehouse clubs operator said total revenues in the first-quarter ending in November advanced 8.5% from a year ago to $711.9 million.

Net income in the quarter soared 15% to $23.7 million or 78 cents per diluted share compared to $20.6 million or 68 cents per share from the same quarter last year.

In the four weeks ending on December 27 comparable warehouse sales rose 1.3% and for the quarter comparable warehouse sales increased 1.6%.

Synnex Corporation ((SNX)) decreased 2% or $1.66 to $81.81 after the business process services provider reported revenues in the fourth-quarter ending in November plunged 7.2% from a year ago to $3.55 billion.

Net income in the quarter advanced 8.9% to $62.2 million or $1.56 per diluted share compared to $57.1 million or $1.44 per share from the same quarter last year.

WD-40 Company ((WDFC)) jumped 2.6% or $2.47 to $97.05 after the consumer products maker stated total net sales in the first-quarter ending in November fell 4% from a year ago to $92.5 million.

Net income in the quarter jumped 12% to $12.1 million or 83 cents per diluted share compared to $10.8 million or 73 cents per share from the same quarter last year.

The company forecasted net income in the year between $47.5 million and $48.5 million and diluted earnings per share in the range of $3.30 and $3.37.