Lowe

Mukesh Buch
01 Mar, 2017
New York City

American Eagle net declined 33%. Best Buy lowered fiscal earnings outlook. Dollar Tree net surged 41%. Donaldson lifted full-year forecast. Lowe''s reports broad strength in business. Tribune Media net swung to profit. Salesforce net loss widened.

[R]12:30 PM New York – American Eagle net declined 33%. Best Buy lowered fiscal earnings outlook. Dollar Tree net surged 41%. Donaldson lifted full-year forecast. Lowe''s reports broad strength in business. Tribune Media net swung to profit. Salesforce net loss widened.[/R]

Tollbooth Index jumped 111.63 or 0.9% to 11,748.97.

Earnings Review

American Eagle Outfitters ((AEO)) plunged 10% or $1.59 to $14.26 after the specialty retailer said total revenues in the second-quarter ending in December slid 1% from a year ago to $1.1 billion.

Same store sales in the quarter edged up “slightly” compared to 4% increase in the quarter a year ago.

Net income in the quarter declined 33.2% to $54.6 million or 30 cents per diluted share from $81.7 million or 42 cents per share in the same quarter last year.

Best Buy Co Inc ((BBY)) declined 4.8% or $1.66 to $42.47 after the technology products and consumer appliance retailer said revenues in the fourth-quarter ending in December fell 1% from a year ago to $13.5 billion.

Comparable store sales in the quarter decreased 0.9% but comparable online sales jumped 17.5%.

Net income in the quarter soared 26.7% to $607 million or $1.91 per diluted share from $479 million or $1.40 per share in the same quarter last year.

The retailer lowered earnings per share in fiscal 2017 first-quarter in the range of 35 cents to 40 cents, lower than the consensus estimate of 49 cents and revenues in the range of $8.2 billion to $8.3 billion.

Comparable sales are estimated to fall between 1% and 2%.

Dollar Tree, Inc ((DLTR)) jumped 3.9% or $3.03 to $79.75 after the discount retailer said sales in the fourth-quarter ending in December soared 5% from a year ago to $5.6 billion.

Same store sales in the quarter in the Dollar Tree chain rose 2.3% and same store sales in the Family Dollar chain increased 0.2%.

Net income in the quarter surged 40.5% to $321.8 million or $1.36 per diluted share from $ 229 million or $1.40 per share in the same quarter last year.

The retailer forecasted net sales in the fiscal first-quarter of 2017 in the range of $5.26 billion to $5.35 billion, based on a flat to low single-digit increase in same-store sales and diluted earnings per share in the range of 91 cents to 98 cents.

In fiscal 2017, net sales estimated between $21.94 billion to $22.33 billion, based on a flat to low single-digit increase in same-store sales and diluted earnings per share to range from $4.20 to $4.56.

The discount retailer said guidance included 53rd week, an extra week compared to a year ago, in the fourth quarter that is expected to add $400 million to $430 million to sales and 19 cents to 22 cents in earnings per diluted share.

Donaldson Company, Inc ((DCI)) surged 10.1% or $4.33 to $47.28 after the filtration systems maker said sales in the second-quarter ending in December jumped 6.4% from a year ago to $550.6 million.

Net income in the quarter soared 22.4% to $46.5 million or 35 cents per diluted share from $38 million or 28 cents per share in the same quarter last year.

Donaldson lifted full-year 2017 diluted earnings per share forecast between $1.60 and $1.68 from the earlier estimated range of $1.50 to $1.66 and sales are expected to increase from 2016 between 2% and 4% from prior guidance range between 2% fall and 2%.

Icahn Enterprises LP ((IEP)) fell 1.7% or 94 cents to $55.30 after the diversified investor stated revenues in the fourth-quarter ending in December surged 52.7% from a year ago to $3.9 billion.

Net loss in the quarter narrowed to $206 million or $1.42 per diluted share from $1.1 billion or $8.56 per share in the same quarter last year.

Lowe''s Companies, Inc ((LOW)) soared 10.3% or $7.64 to $81.97 after the home improvement retailer said revenues in the fourth-quarter ending in December jumped 19.2% from a year ago to $15.8 billion.

Comparable store sales in the quarter jumped 5.1%.

Net income in the quarter surged to $663 million or 74 cents per diluted share from $11 million or 1 cent per share in the same quarter last year.

Lowe''s said total sales are estimated to increase about 5% and comparable sales to increase approx 3.5% and diluted earnings per share of about $4.64.

Tribune Media Co ((TRCO)) jumped 9.1% or $3.15 to $37.67 after the diversified media and entertainment services provider stated revenues in the fourth-quarter ending in December soared 10.8% from a year ago to $529.6 million.

Net in the quarter swung to profit $18.9 million or 22 cents per diluted share from a loss of $380.9 million or $4.07 per share in the same quarter last year.

TV-centric broadcaster said net swung to profit mainly due to political advertising, higher retransmission and carriage fees.

Salesforce.com, Inc ((CRM)) gained 1.1% or 95 cents to $82.33 after the cloud computing services provider reported revenues in the fourth-quarter ending in December surged 27% from a year ago to $2.3 billion.

Net loss in the quarter widened to $51.4 million or 7 cents per diluted share from $25.5 million or 4 cents per share in the same quarter last year.

Salesforces said subscription and support business revenues jumped 25% to $2.11 billion and revenues in the professional services segment and other revenues were jumped 45% to $183 million.

In the fiscal first-quarter, the cloud computing services provider estimated revenues between $2.34 billion and $2.35 billion and a loss per share of 2 cents to 3 cents.

Salesforce forecasted fiscal 2018 revenue between $10.15 billion and $10.20 billion.