Salesforce.com Rides Cloud Momentum; Intuit Net Swings to Profit

Mukesh Buch
23 Aug, 2017
New York City

American Eagle net reaffirmed comparable store sales estimate. Express surged despite net swung to a loss. Intuit net swung to profit. KLX reported stronger profit. Lowe''s plunged despite net and revenues surged. Regis net declined 77%. Salesforce.com net tumbled 92%.

[R]12:55 PM New York – American Eagle net reaffirmed comparable store sales estimate. Express surged despite net swung to a loss. Intuit net swung to profit. KLX reported stronger profit. Lowe''s plunged despite net and revenues surged. Regis net declined 77%. Salesforce.com net tumbled 92%.[/R]

Tollbooth Index slumped 41.91 or 0.3% to 12,190.02.

Earnings Review

American Eagle Outfitter ((AEO)) jumped 5.7% or 63 cents to $11.84 after the multi-brand specialty retailer said net sales in the second-quarter ending on July 29 advanced 3% from a year ago to $845 million.

Comparable store sales in the quarter increased 2%.

Net income in the quarter jumped 14.4% to $28.6 million or 12 cents per diluted share from $25 million or 23 cents in the same quarter last year.

The retailer reaffirmed comparable store sales in the range of flat to up low single digit but lowered diluted earnings per share estimate between 36 cents to 38 cents from the reported earnings per share of 41 cents in the same period a year ago.

Express, Inc ((EXPR)) surged 22.6% or $1.24 to $6.73 after the specialty apparel and accessories retailer stated net sales in the second-quarter ending in July dropped 5% from a year ago to $478.5 million.

Comparable store sales in the quarter declined 4% while online sales soared 28% to $90 million.

Net in the quarter swung to a loss of $11.8 million or 15 cents per diluted share from profit of $10.1 million or 13 cents in the same quarter last year.

The apparel retailer forecasted fiscal 2017 comparable sales negative low single digit from decrease of 9% in a year ago period.

The retailer estimated full-year net income to decline between $20 million and $26 million from $57.4 million in the same period a year ago and diluted earnings per share to slump in the range of 26 cents to 33 cents from 73 cents in a year ago period.

Intuit Inc ((INTU)) slipped 1.5% or $2.13 to $136.02 after the business and financial solutions provider said revenues in the fourth-quarter ending in June jumped 12% from a year ago to $842 million.

Net in the quarter swung to profit $24 million or 9 cents per diluted share from a loss of $40 million or 16 cents in the same quarter last year.

The business software provider estimated first-quarter revenues to grow in the range of 8% to 11% or $840 million to $860 million but operating loss of $75 million to $85 million and diluted loss per share between 17 cents and 19 cents.

Intuit forecasted fiscal 2018 revenues to grow between 9% and 11% or $5.64 billion to $5.74 billion and diluted earnings per share of $4 to $4.10, a growth of 8% to 10%.

KLX Inc ((KLXI)) slumped 2.4% or $1.17 to $48.04 after the aerospace fasteners and consumables distributor said revenues in the second-quarter ending in July surged 13.6% from a year ago to $430.6 million.

Net income in the quarter jumped 158.7% to $20.7 million or 40 cents per diluted share from $8 million or 15 cents in the same quarter last year.

Lowe''s Companies, Inc ((LOW)) plunged 6.5% or $4.95 to $70.87 after the home improvement retailer reported revenues in the second-quarter ending on August 4 soared 6.8% from a year ago to $19.5 billion.

Comparable sales in the quarter jumped 4.5%.

Net income in the quarter surged 20.3% to $1.4 billion or $1.68 per diluted share from $1.2 billion or $1.31 in the same quarter last year.

Lowe''s estimated fiscal 2017 total sales to increase approx 5% and comparable sales to advance 3.5% and diluted earnings per share in the range of $4.20 to $4.30.

Regis Corporation ((RGS)) surged 14.4% or $1.49 to $11.83 after the beauty salons operator said revenues in the fourth-quarter ending in June slumped 5.2% from a year ago to $424.2 million.

Same-store sales in the quarter rose 0.4%.

Net income in the quarter declined 76.8% to $1.3 million or 3 cents per diluted share from $5.6 million or 12 cents in the same quarter last year.

Salesforce.com, Inc ((CRM)) gained 64 cents to $93.69 after the enterprise software provider reported revenues in the second-quarter ending in July soared 26% from a year ago to $2.6 billion.

Net income in the quarter tumbled 92.3% to $17.7 million or 2 cents per diluted share from $229.6 million or 33 cents in the same quarter last year.

In the third-quarter, salesforce estimated revenues between $2.64 billion and $2.65 billion, an increase of 23% to 24% from a year ago period and diluted earnings per share in the range of 4 cents to 5 cents.

The cloud-based software provider forecasted fiscal 2018 revenues in the range of $10.35 billion to $10.40 billion, an increase of 23% to 24% from a year ago period and diluted earnings per share in the range of 7 cents to 9 cents.