Nordstrom Surged on Going Private Talks, Dell Net Swings to Loss

Mukesh Buch
08 Jun, 2017
New York City

Dell Technologies net swung to a loss despite PC shipments jumped 6.2%. Destination Maternity net swung to a loss. Nordstrom family is exploring to take the luxury retailer private. Smucker net tumbled 42%. Vail Resorts completes the purchase of Stowe Mountain Resort in Vermont.

[R]1:00 PM New York – Dell Technologies net swung to a loss despite PC shipments jumped 6.2%. Destination Maternity net swung to a loss. Nordstrom family is exploring to take the luxury retailer private. Smucker net tumbled 42%. Vail Resorts completes the purchase of Stowe Mountain Resort in Vermont.[/R]

Tollbooth Index slid 13.69 to 12,288.74.

Earnings Review

Cantel Medical Corp ((CMD)) slumped 2.8% or $2.24 to $77.38 after the infection prevention products provider said revenues in the third-quarter ending in April jumped 10.6% from a year ago to $192.1 million.

Net income in the quarter soared 25% to $17.5 million or 42 cents per diluted share from $14 million or 34 cents in the same quarter last year.

Dell Technologies Inc ((DVMT)) declined 4% or $2.73 to $65.10 after the information technology provider reported net revenues in the first-quarter ending on May 5 soared 46% from a year ago to $17.8 billion.

Net in the quarter swung to a loss of $1.3 billion from profit of $55 million in the same quarter last year.

Dell said PC shipments in the quarter increased 6.2% from same period a year ago and 17th consecutive quarters of PC unit share growth and gross margins increased 96%.

Destination Maternity Corp ((DEST)) slid 2 cents to $4.73 after the maternity apparel retailer stated revenues in the first-quarter ending in April plunged 14.5% from a year ago to $106.4 million.

Comparable sales in the quarter declined 7.3%.

Net in the quarter swung to a loss of $1.1 million or 8 cents per diluted share from profit of $4 million or 30 cents in the same quarter last year.

Nordstrom, Inc ((JWN)) surged 11.2% or $4.54 to $45 after the fashion specialty retailer said that members of the Nordstrom family had formed a group to explore the possibility of taking the company private.

J M Smucker Co ((SJM)) slipped 1.17 to $129.71 after the branded food and beverage products maker reported revenues in the fourth-quarter ending in April fell 1% from a year ago to $1.78 billion.

Net income in the quarter tumbled 42% to $110.4 million or 96 cents per diluted share from $191 million or $1.61 in the same quarter last year.

Smucker said sales declined marginally on 5% fall in the U.S. retail pet foods segment and profit declined 15% while profit margin fell 240 basis points 22.1%.

Vail Resorts, Inc ((MTN)) slumped 3.3% or $7.09 to $207.87 after the mountain resorts and skiing services provider said total net revenues in the third-quarter ending in April surged 22.7% from a year ago to $794.6 million.

Net income in the quarter jumped 14.9% to $181.1 million or $4.40 per diluted share from $157.6 million or $4.23 in the same quarter last year.