Argan, Chipotle, Calavo Jump; Casey's, HD Supply Decline

Mukesh Buch
07 Sep, 2016
New York City

Argan net jumped and revenues soared. Activist investor Ackman controlled funds acquired 10% stake in Chipotle Mexican Grill. Calavo Growers profit soared 48% on 13% jump in revenues. Casey''s General net rose 9%. HD Supply profit declined 10%. John Wiley & Sons net fell 4%. Valspar net surged 14%.

[R]2:00 PM New York – Argan net jumped and revenues soared. Activist investor Ackman controlled funds acquired 10% stake in Chipotle Mexican Grill. Calavo Growers profit soared 48% on 13% jump in revenues. Casey''s General net rose 9%. HD Supply profit declined 10%. John Wiley & Sons net fell 4%. Valspar net surged 14%.[/R]

Tollbooth Index edged down 6.60 to 11,068.52.

Earnings Review

Argan, Inc ((AGX)) surged 7.2% or $3.53 to $52.39 after the engineering construction group reported revenues in the second-quarter ending in July soared 67% from a year ago at $162.5 million.

Net income in the quarter jumped 74.3% to $19.7 million or $1.29 per diluted share compared to the $11.3 million or 75 cents per share from the same quarter last year.

Chipotle Mexican Grill, Inc ((CMG)) jumped 5.7% or $23.54 to $437.64 after Reuters said funds controlled by activist investor William Ackman acquired 9.9% stake in the Mexican fast food chain.

Calavo Growers, Inc ((CVGW)) surged 10.5% or $6.27 to $65.76 after the fresh food provider reported revenues in the third-quarter ending in July jumped 13.2% from a year ago at $263.1 million.

Net income in the quarter soared 47.5% to $12.7 million or 73 cents per diluted share compared to the $8.6 million or 50 cents per share from the same quarter last year.

Calavo lifted diluted earnings per share forecast in the year to $1.65 from $1.57 in fiscal 2015.

Casey''s General Stores Inc ((CASY)) plunged 11.3% or $15.03 to $118.28 after the convenience stores operator said total revenues in the first-quarter ending in July slipped 3.9% from a year ago at $1.97 billion.

Net income in the quarter jumped 9.1% to $67.4 million or $1.70 per diluted share compared to the $61.8 million or $1.57 per share from the same quarter last year.

Icahn Enterprises LP ((IEP)) slid 11 cents to $50.79 after the diversified investment group said it intends to acquire the remaining stake of 18% in auto parts maker Federal-Mogul Holdings Corp for $9.25 per share or about $282 million.

HD Supply Holdings Inc ((HDS)) tumbled 14.9% or $5.39 to $30.86 after the industrial products distributor reported revenues in the second-quarter ending in July jumped 4.1% from a year ago to $2 billion.

Net income in the quarter declined 10.1% to $98 million or 49 cents per diluted share compared to the $109 million or 54 cents per share from the same quarter last year.

In the third-quarter, the industrial products distributor forecasted revenues between $1.99 billion and $2.04 billion and operating profit between $258 million to $268 million and diluted earnings per share in the range of 77 cents and 82 cents.

John Wiley & Sons Inc ((JW.A)) slumped 6.6% or $3.86 to $54.46 after the professional and education information provider said revenues in the first-quarter ending in July dropped 4% from a year ago at $404.3 million.

Net income in the quarter decreased 4% to $31 million or 53 cents per diluted share compared to the $32.5 million or 55 cents per share from the same quarter last year.

Sparton Corporation ((SPA)) advanced 6.3% or $1.44 to $24.31 after the electro-mechanical devices maker stated net sales in the fourth-quarter ending on July 3 plunged 15.3% from a year ago at $107 million.

Net in the quarter swung to a loss of $42.1 million or $4.30 per diluted share compared to the profit of $5.1 million or 51 cents per share from the same quarter last year.

The Valspar Corp ((VAL)) gained 21 cents to $105.72 after the coatings and paints maker reported net sales in the third-quarter ending on July 29 slid 1% from a year ago at $1.14 billion.

Net income in the quarter surged 14% to $117 million or $1.44 per diluted share compared to the $102.9 million or $1.25 per share from the same quarter last year.