Barnes Group, Brady Jump; CST Brands, Deere, Gentherm, VF Corp Fall

Mukesh Buch
19 Feb, 2016
New York City

Barnes Group net plunged. Brady Corp profit jumped 32% and safety products maker lifted fiscal forecast. CIRCOR net and revenues tumbled. CST Brands declined 73%. Consolidated Edison net jumped 117% but revenues dropped. Deere & Co net plummeted 34%. Virgin America net surged.

[R]11:35 AM New York – Barnes Group net plunged. Brady Corp profit jumped 32% and safety products maker lifted fiscal forecast. CIRCOR net and revenues tumbled. CST Brands declined 73%. Consolidated Edison net jumped 117% but revenues dropped. Deere & Co net plummeted 34%. Virgin America net surged.[/R]

Tollbooth Index fell 19.70 or 0.2% to 10,057.08.

Earnings Review

Barnes Group Inc ((B)) soared 6.1% or $1.92 to $33.67 after the industrial and aerospace service provider said revenue in the fourth-quarter ending in December slumped 7.5% from a year ago to $287 million.

Net income in the quarter plunged 22.6% to $24.4 million or 44 cents per diluted share compared to $31.5 million or 57 cents per share from the same quarter last year.

Brady Corp ((BRC)) surged 12.6% or $2.80 to $25.05 after the identification and safety products maker stated revenue in the second-quarter ending in January dropped 5% from a year ago to $268.6 million.

Net income in the quarter jumped 31.9% to $15.3 million or 30 cents per diluted share compared to $11.6 million or 23 cents per share from the same quarter last year.

The company lifted diluted earnings per share forecast in the year ending July 2016 in the range of $1.20 to $1.35.

CIRCOR International, Inc ((CIR)) gained 1.8% or 65 cents to $37.07 after the engineered products maker said revenue in the fourth-quarter ending in December plummeted 25% from a year ago to $164.2 million.

Net income in the quarter tumbled 21.7% to $7.2 million or 43 cents per diluted share compared to $9.2 million or 51 cents per share from the same quarter last year.

CST Brands Inc ((CST)) declined 7.2% or $2.41 to $30.86 after the gas stations operator stated revenue in the fourth-quarter ending in December plunged 21.8% from a year ago to $2.11 billion.

Net income in the quarter slumped 73.4% to $25 million or 34 cents per diluted share compared to $94 million or $1.21 per share from the same quarter last year.

Consolidated Edison, Inc ((ED)) slipped 1.8% or $1.32 to $70.30 after the electric company reported revenue in the fourth-quarter ending in December declined 4.2% from a year ago to $2.71 billion.

Net income in the quarter jumped 117.3% to $176 million or 60 cents per diluted share compared to $81 million or 28 cents per share from the same quarter last year.

Deere & Company ((DE)) dropped 3.8% or $3.06 to $77.27 after the agriculture and turf equipment maker stated total net sales in the first-quarter ending in January slumped 13% from a year ago to $5.53 billion.

Net income in the quarter plummeted 34.2% to $254.4 million or 80 cents per diluted share compared to $386.8 million or $1.12 per share from the same quarter last year.

Deere estimated worldwide sales of agriculture and turf equipment in the fiscal 2016 to decline 10% and industry sales in the EU28 region are estimated to flat to drop by 5% while worldwide sales of construction and forestry equipment are forecast to plunge approximately 11%.

Gentherm Inc ((THRM)) declined 5.1% or $2.17 to $40.24 after the thermal convenience products maker said revenue in the fourth-quarter ending in December increased 3.5% from a year ago to $212.3 million.

Net income in the quarter soared 43% to $28.4 million or 78 cents per diluted share compared to $19.8 million or 55 cents per share from the same quarter last year.

V.F. Corporation ((VFC)) slumped 4.1% or $2.49 to $58.76 after the apparel, footwear and accessories maker reported revenue in the fourth-quarter ending in December fell 5% from a year ago to $3.41 billion.

Net income in the quarter advanced 156% to $312.2 million or 72 cents per diluted share compared to $122.1 million or 28 cents per share from the same quarter last year.

Virgin America Inc ((VA)) rose 15 cents to $30.68 after the airline company said revenue in the fourth-quarter ending in December jumped 5.2% from a year ago to $391.5 million.

Net income in the quarter surged to $190.9 million or $4.28 per diluted share compared to $3.87 million or 16 cents per share from the same quarter last year.