Analog Devices, Lowe

Mukesh Buch
21 Nov, 2017
New York City

Analog Devices beat earnings results. Burlington Stores fourth quarter outlook disappointed Wall Street. Campbell Soup lowered profit forecast. Chico''s net tumbled. Dollar Tree profit beats estimates on higher traffic. Lowe

[R]11:50 AM New York – Analog Devices beat earnings results. Burlington Stores fourth quarter outlook disappointed Wall Street. Campbell Soup lowered profit forecast. Chico''s net tumbled. Dollar Tree profit beats estimates on higher traffic. Lowe’s net surged on hurricane-related sales.[/R]

Tollbooth Index jumped 114.37 or 0.9% to 13,414.30.

Earnings Review

Analog Devices, Inc ((ADI)) declined 2.8% or $2.63 to $90.44 after the integrated circuits maker reported revenues in the fourth-quarter ending on October 28 soared 50% from a year ago to $1.5 billion.

Net income in the quarter surged 17.4% to $347.7 million or 93 cents per diluted share from $296.2 million or 95 cents in the same quarter last year.

The integrated circuits maker forecasted fiscal 2018 first-quarter revenues between $1.44 billion and $1.54 billion and diluted earnings per share in the range of 79 cents to 95 cents.

Burlington Stores Inc ((BURL)) slipped 1.2% or $1.29 to $105.26 after the branded apparel retailer said total sales in the third-quarter ending on October 28 jumped 7.1% from a year ago to $1.4 billion.

Comparable store sales in the quarter advanced 3.1%.

Net income in the quarter soared 38.6% to $44.9 million or 65 cents per diluted share from $32.4 million or 45 cents in the same quarter last year.

In fiscal 2017, the retailer forecasted total sales to increase in the range of 8.1% to 8.4% and comparable store sales to increase of 2.3% to 2.6% and earnings per share between $4.23 and $4.27.

Campbell Soup Company ((CPB)) declined 7.5% or $3.77 to $46.15 after the ready-to-serve soups provider reported net sales in the first-quarter ending on October 29 fell 2% from a year ago to $2.16 billion.

Net income in the quarter plunged 5.8% to $275 million or 91 cents per diluted share from $292 million or 94 cents in the same quarter last year.

Chico''s FAS, Inc ((CHS)) slid 2 cents to $8.12 after the women''s specialty retailer net sales in the third-quarter ending on October 28 plunged 10.8% from a year ago to $532.3 million.

Comparable store sales in the quarter dropped 8.2% on the negative impact of stores closed four or more days mainly driven by unfavorable impact of hurricanes Harvey, Irma and Maria.

Net income in the quarter tumbled 29.2% to $16.7 million or 13 cents per diluted share from $23.6 million or 18 cents in the same quarter last year.

Dollar Tree, Inc ((DLTR)) gained 37 cents to $97.48 after the discount stores operator reported sales in the third-quarter ending on October 28 advanced 6.3% from a year ago to $5.3 billion.

Same store sales in the quarter increased 3.2%. Same-store sales for the Dollar Tree banner jumped 5% and same-store sales for the Family Dollar banner increased 1.5%.

Net income in the quarter surged 39.8% to $239.9 million or $1.01 per diluted share from $171.6 million or 72 cents in the same quarter last year.

Dollar Tree lifted fiscal 2018 net sales growth forecast in the range of $22.2 billion to $22.31 billion from the earlier estimate of $22.07 billion to $22.28 billion and same-store sales to increase low single-digit.

The retailer also lifted diluted earnings per share forecast in the range of $4.64 and $4.73 from the earlier estimate of $4.44 to $4.60.

Hormel Foods Corp ((HRL)) soared 5.6% or $1.86 to $35.26 after the meat and food products producer said sales in the fourth-quarter ending on October 29 slumped 5.1% from a year ago to $2.5 billion.

Net income in the quarter declined 10.5% to $218.2 million or 41 cents per diluted share from $243.9 million or 45 cents in the same quarter last year.

Separately, today Hormel Foods said that its Specialty Foods segment is now merged into its Grocery Products segment.

Jacobs Engineering Group Inc ((JEC)) soared 9.2% or $5.48 to $64.82 after the construction services provider said revenues in the fourth-quarter ending on September 29 were flat from a year ago to $2.65 billion.

Net income in the quarter soared to $94.1 million or 78 cents per diluted share from $29.6 million or 24 cents in the same quarter last year.

Lowe''s Companies, Inc ((LOW)) dropped 70 cents to $80.76 after the home improvement retailer reported net sales in the third-quarter ending on October 28 soared 6.5% from a year ago to $16.8 billion.

Comparable store sales in the quarter jumped 5.7% as Hurricane-related sales in the quarter were approximately $200 million.

Net income in the quarter more than doubled to $872 million or $1.05 per diluted share from $379 million or 43 cents in the same quarter last year.

Lowe''s forecasted fiscal 2018 total sales to increase about 5% and comparable sales to increase 3.5% and diluted earnings per share in the range of $4.20 to $4.30.