CSC, Hewlett Packard, Thermon Soar; Express, Intuit, Tiffany Fall

Mukesh Buch
25 May, 2016
New York City

Computer Sciences net swung to a loss after sales declined. Express net fell and the retailer lowered income forecast. Eaton Vance slid 6%. Hewlett Packard Enterprise jumped 5%. Intuit net doubled to $1.03 billion. Tiffany profit plunged 17%. Thermon Group net tumbled 53%.

[R]12:00 PM New York – Computer Sciences net swung to a loss after sales declined. Express net fell and the retailer lowered income forecast. Eaton Vance slid 6%. Hewlett Packard Enterprise jumped 5%. Intuit net doubled to $1.03 billion. Tiffany profit plunged 17%. Thermon Group net tumbled 53%.[/R]

Tollbooth Index gained 44.03 or 0.4% to 10,593.17.

Earnings Review

Computer Sciences Corporation ((CSC)) surged 34.7% or $12.35 to $48.01 after the information technology provider stated revenues in the fourth-quarter ending on April 1 slumped 5.4% from a year ago to $1.81 billion.

Net in the quarter swung to a loss of $126 million or 91 cents per diluted share compared to profit of $9 million or 6 cents per share from the same quarter last year.

Express, Inc ((EXPR)) tumbled 13% or $2.09 to $13.94 after the specialty apparel and accessories retailer said net revenues in the first-quarter ending in April were nearly flat from a year ago to $502.9 million.

Comparable store sales in the quarter dropped 3% and online sales slid 1% to $77 million.

Net income in the quarter fell 1.5% to $12.9 million or 16 cents per diluted share compared to $13.1 million or 15 cents per share from the same quarter last year.

The retailer lowered net income forecast in the second-quarter to between $12 million and $15 million from $21 million in the same period a year ago and diluted earnings per share in the range of 15 cents to 19 cents compared to 25 cents in a year ago period.

Eaton Vance Corp ((EV)) rose 28 cents to $36.36 after the investment advisor reported revenues in the second-quarter ending in April declined 8.1% from a year ago to $323.3 million.

Net income in the quarter slumped 5.8% to $55 million or 48 cents per diluted share compared to $58.4 million or 51 cents per share from the same quarter last year.

The investment manager said assets under management as of April 30, increased 2% to $318.7 billion from the $311 billion and jumped 5% to $302.6 billion in first-quarter ending in January 31, 2016.

Hewlett Packard Enterprise Co ((HPE)) jumped 9.4% or $1.52 to $17.77 after the enterprise services provider reported net revenues in the second-quarter ending in April rose 1% from a year ago to $12.71 billion.

Net income in the quarter jumped 4.9% to $320 million or 18 cents per diluted share compared to $305 million or 16 cents per share from the same quarter last year.

Intuit Inc ((INTU)) dropped 3.3% or $3.59 to $103.72 after the enterprise software developer said total revenues in the third-quarter ending in April jumped 7.5% from a year ago to $2.30 million.

Net income in the quarter doubled to $1.03 billion or $3.94 per diluted share compared to $501 million or $1.78 per share from the same quarter last year.

Tiffany & Co ((TIF)) slumped 2% or $1.30 to $62.55 after the jeweller and watch retailer stated revenues in the first-quarter ending in April declined 7% from a year ago to $891.3 million.

Comparable store sales in the quarter plummeted 9%.

Net income in the quarter plunged 16.6% to $87.5 million or 69 cents per diluted share compared to $104.9 million or 81 cents per share from the same quarter last year.

In the Americas, total sales dropped 9% to $403 million and comparable store sales declined 10% from the prior year.

Total sales in Japan soared 8% to $131 million and comparable store sales surged 12% from the same prior a year ago.

In the Asia-Pacific region, total sales plummeted 8% to $238 million and comparable store sales plunged 15% compared to a year ago.

Total sales in Europe slumped 9% to $97 million and comparable store sales tumbled 15% compared to the same period a year ago.

Thermon Group Holdings Inc ((THR)) surged 13.1% or $2.43 to $21.03 after the thermal solutions provider stated revenues in the fourth-quarter ending in March fell 3% from a year ago to $72.3 million.

Net income in the quarter tumbled 53.4% to $23 million or 71 cents per diluted share compared to $49.4 million or $1.52 per share from the same quarter last year.

The company forecasted revenue growth in fiscal 2017 flat to low single digit compared to fiscal 2016.