American Eagle Tumbles on Outlook; Autodesk, Splunk Net Loss Widen

Mukesh Buch
30 Nov, 2016
New York City

American Eagle plunged after the retailer lowered earnings forecast. Autodesk, Nutanix said net loss widened. Royal Bank of Canada profit slid 2% but revenues surged 16%. Titan Machinery net plunged 91%.

[R]12:10 PM New York – American Eagle plunged after the retailer lowered earnings forecast. Autodesk, Nutanix said net loss widened. Royal Bank of Canada profit slid 2% but revenues surged 16%. Titan Machinery net plunged 91%.[/R]

Tollbooth Index slumped 46.19 or 0.4% to 11,080.96.

Earnings Review

American Eagle Outfitters ((AEO)) tumbled 11.2% or $2.11 to $16.80 after the specialty retailer reported total net revenues in the third-quarter ending on October 29 increased 2% from a year ago to $941 million.

Comparable store sales in the quarter advanced 2%.

Net income in the quarter rose 2.2% to $75.8 million or 41 cents per diluted share compared to the $74.1 million or 38 cents per share from the same quarter last year.

The retailer lowered earnings per share forecast in the fourth-quarter between 37 cents to 39 cents compared to reported earnings per share of 42 cents in a year ago period.

American Eagle estimated comparable sales in the range of flat to a low single digit increase.

Autodesk, Inc ((ADSK)) declined 5.7% or $4.32 to $70.94 after the application software and services provider said revenues in the third-quarter ending in October plunged 18.4% from a year ago to $489.6 million.

Net loss in the quarter widened to $142.8 million or 64 cents per diluted share compared to the $43.8 million or 19 cents per share from the same quarter last year.

In the year, Autodesk forecasted revenues between $2.012 billion and $2.032 billion and diluted loss per share in the range of $2.77 to $2.67.

Nutanix Inc ((NTNX)) slumped 3.9% or $1.33 to $32.76 after the enterprise cloud platform provider reported revenues in the first-quarter ending in October jumped 90.1% from a year ago to $166.8 million.

Net loss in the quarter widened to $162.2 million or $2.18 per diluted share compared to the $38.8 million or 90 cents per share from the same quarter last year.

Nutanix said total operating expenses in the quarter soared 160% to $233.4 million and total cost of revenue advanced 84.2% to $97.1 million.

Royal Bank of Canada ((RY)) dropped 2.3% or $1.57 to $65.48 after Canada-based banking and financial services provider said total revenues in the fourth-quarter ending in October surged 15.7% from a year ago to $9.3 billion.

Net income in the quarter fell 1.9% to $2.5 billion or $1.65 per diluted share compared to the $2.6 million or $1.74 per share from the same quarter last year.

Splunk Inc ((SPLK)) jumped 4.6% or $2.61 to $59.99 after the operational software solutions provider stated total revenues third-quarter ending in October soared 40% from a year ago to $244.8 million.

Net loss in the quarter widened to $93.5 million or 69 cents per diluted share compared to the $72.97 million or 57 cents per share from the same quarter last year.

Splunk lifted revenues forecast in the fiscal year between $930 million and $932 million compared to the earlier estimated range of $910 million to $914 million.

Titan Machinery Inc ((TITN)) advanced 4.1% or 52 cents to $13.48 after the agricultural and construction equipment provider said revenues in the third-quarter ending in October dropped 3.7% from a year ago to $332.3 million.

Net income in the quarter tumbled 91.2% to $0.3 million or 1 cent per diluted share compared to the $3.4 million or 16 cents per share from the same quarter last year.