Monsanto Net Surges, Walgreens Drops; Costco Comparable Sales Soar

Mukesh Buch
04 Jan, 2018
New York City

AngioDynamics lowered sales forecast. Buckle tumbled after comparable sales declined. Costco comparable sales soared 12%. L Brands revised fourth-quarter earnings outlook. Monsanto profit surged. RPM Intl net swung to profit. Rite Aid net soared. Walgreens net tumbled.

[R]11:20 AM New York City, New York – AngioDynamics lowered sales forecast. Buckle tumbled after comparable sales declined. Costco comparable sales soared 12%. L Brands revised fourth-quarter earnings outlook. Monsanto profit surged. RPM Intl net swung to profit. Rite Aid net soared. Walgreens net tumbled.[/R]

Tollbooth Index jumped 111.30 or 0.8% to 14,144.24.

Earnings Review

AngioDynamics, Inc ((ANGO)) dropped 4.3% or 70 cents to $15.71 after the medical, surgical and diagnostic devices maker said net sales in the second-quarter ending in November fell 2.6% from a year ago to $86.7 million.

Net income in the quarter plunged 97.8% to $0.3 million or 1 cent per diluted share from $13.7 million or 37 cents in the same quarter last year.

In fiscal 2018, AngioDynamics lowered net sales forecast in the range of $345 million to $350 million from the earlier estimate of $352 million to $359 million and free cash flow in the range of $30 million to $35 million and earnings per share in the range of 64 cents to 68 cents.

The Buckle, Inc ((BKE)) tumbled 12.2% or $3 to $21.55 after the apparel, footwear and accessories retailer said net sales in the five-week period ending in December declined 4.8% to $147.2 million and comparable sales slumped 4.1%.

The Buckle said net sales in the forty eight-week period ending in December plunged 7.9% to $857.6 million and comparable sales plummeted 7.6%.

Costco Wholesale Corporation ((COST)) increased 1.5% or $2.92 to $193.50 after the discount retailer reported net sales in the five-week period ending in December surged 14.3% to $14.94 billion and comparable sales soared 11.5% and online sales grew 33.3% from 32.2% in the same period a year ago.

L Brands Inc ((L)) plunged 10.3% or $6.01 to $52.11 after the specialty retailer said net sales in the five-week period ending in December jumped 3% to $2.5 billion and comparable sales increased 1%.

The retailer revised fourth-quarter earnings per share forecast of about $2 from the earlier estimate of $1.95 to $2.10.

Macy''s Inc ((M)) plummeted 7.4% or $1.88 to $23.45 after the department stores operator stated comparable sales in the months of November and December 2017 increased 1%.

The retailer lowered fiscal 2017 comparable sales forecast to between 2.4% and 2.7% from the earlier estimate of 2% and 2.3% and total sales between 3.6% and 3.9%.

Monsanto Company ((MON)) rose 14 cents to $118.12 after the agricultural product producer reported total in the first-quarter ending in November grew 0.4% from a year ago to $2.7 billion.

Net income in the quarter surged to $169 million or 38 cents per diluted share from $29 million or 7 cents in the same quarter last year.

RPM International Inc ((RPM)) jumped 3.6% or $1.93 to $55.36 after the paints, protective coatings maker reported net sales in the second-quarter ending in November soared 10.5% from a year ago to $1.3 billion.

Net in the quarter swung to profit $95.5 million or 70 cents per diluted share from a loss of $70.9 million or 54 cents in the same quarter last year.

The paints, protective coatings maker lifted earnings per share after new federal tax legislation in the range of $3 to $3.10 from the earlier estimate of $2.85 to $2.95.

Rite Aid Corporation ((RAD)) slumped 5.5% or 11 cents to $2 after the drug stores operator said revenues in the third-quarter ending on December 2 dropped 5.6% from a year ago to $5.4 billion.

Same store sales in the quarter decreased 2.5% and the number of prescriptions filled in same stores decreased 2.4%.

Net income in the quarter surged to $81 million or 8 cents per diluted share from $15 million or 1 cent in the same quarter last year.

Walgreens Boots Alliance, Inc ((WBA)) declined 5.9% or $4.47 to $71.04 after the drug retailer reported revenues in the first-quarter ending in November jumped 7.9% from a year ago to $30.7 billion.

Comparable store sales in the quarter increased 4.7% and prescriptions filled in comparable stores increased 8.9% but comparable retail sales dropped 0.9%.

Net income in the quarter tumbled 22.1% to $821 million or 81 cents per diluted share from $1.1 billion or 97 cents in the same quarter last year.

The company revised diluted earnings per share to $5.45 to $5.70 from the earlier estimate of $5.40 to $5.70.