Express Net Jumps; Intellia Therapeutics, Signet Plummet on Weak Outlook

Mukesh Buch
14 Mar, 2018
New York City

Express net surged 29%. Intellia Therapeutics tumbled after net loss widened and the biotech company lowered fiscal outlook. Signet Jewelers plummeted after weak sales forecast. The Stars Group net and revenues surged. Vera Bradley net more than doubled.

[R]1:15 PM New York City, New York – Express net surged 29%. Intellia Therapeutics tumbled after net loss widened and the biotech company lowered fiscal outlook. Signet Jewelers plummeted after weak sales forecast. The Stars Group net and revenues surged. Vera Bradley net more than doubled.[/R]

Tollbooth Index edged up 1.03 to 14,729.36.

Earnings Review

Clearside Biomedical Inc ((CLSD)) fell 11 cents to $12.32 after the bio therapeutic drugs maker said license and collaboration revenue in the fourth-quarter ending in December were surged from a year ago to $55 million.

Net loss in the quarter widened to $16.5 million or 65 cents per diluted share from $9.7 million or 45 cents in the same quarter last year.

Express, Inc ((EXPR)) slumped 2.2% or 16 cents to $7.23 after the specialty apparel and accessories retailer said net sales in the fourth-quarter ending in December increased 2% from a year ago to $693.8 million.

Comparable sales (including online sales) in the quarter decreased 1%.

Net income in the quarter surged 28.9% to $29.4 million or 37 cents per diluted share from $22.8 million or 29 cents in the same quarter last year.

The retailer forecasted fiscal 2018 comparable sales to fall 1% to increase of 1% and net income in the range of $25 million to $35 million and diluted earnings per share in the range of 32 cents to 46 cents.

Intellia Therapeutics Inc ((NTLA)) tumbled 14.1% or $4.64 to $28.58 after the genome editing system provider reported collaboration revenue in the fourth-quarter ending in December soared 19.6% from a year ago to $6.7 million.

Net loss in the quarter widened to $23.9 million or 61 cents per diluted share from $10.6 million or 31 cents in the same quarter last year.

The genome editing system provider forecasted losses to increase as it continues to incur significant research and development expenses, as of December 31, 2017 the biotech research firm had accumulated deficit of $121.1 million.

Signet Jewelers Ltd ((SIG)) plummeted 18.2% or $8.71 to $39.20 after the Bermuda-based diamond jewelry retailer said net sales in the fourth-quarter ending on February 3 were flat from a year ago at $2.3 billion.

Same store sales in the quarter declined 5.2%.

Net income in the quarter surged 19.2% to $343 million or $5.24 per diluted share from $287.8 million or $3.92 in the same quarter last year.

The jewelry retailer forecasted fiscal 2019 revenues growth between $5.9 billion to $6.1 billion and same store sales to drop low to mid-single digit percentage points and diluted earnings per share in the range of breakeven to 60 cents.

The Stars Group Inc ((TSG)) plunged 6.4% or $1.86 to $27.39 after the Canada-based online gaming and entertainment provider said revenues in the fourth-quarter ending in December surged 16.1% from a year ago to $360.2 million.

Net income in the quarter jumped 4.7% to $47.2 million from $45 million and diluted earnings per share were flat at 23 cents in the same quarter last year.

The Stars Group forecasted fiscal 2018 revenues in the range of $1.39 billion and $1.47 billion and operating profit between $625 million and $650 million and net income in the range of $487 millionand $512 million and diluted earnings per share between $2.33 and $2.47.

Vera Bradley, Inc ((VRA)) declined 8.9% or 90 cents to $9.40 after the handbags, luggage and travel items designer said revenues in the fourth-quarter ending on February 3 slumped 2.1% from a year ago to $132 million.

Net income in the quarter more than doubled to $8.5 million or 24 cents per diluted share from $3.5 million or 9 cents in the same quarter last year.

“The majority of product and pricing are being implemented this year and the changes will negatively impact by $30 million to $50 million and reflected in revenue guidance of $405 to $425 million,” said chief executive officer Robert Wallstrom.