Deere Reported Strong Results, Nordstrom Profit Surged

Mukesh Buch
17 Aug, 2018
New York City

Applied Materials plunged on weak fiscal outlook. America

[R]12:20 PM New York City, New York – Applied Materials plunged on weak fiscal outlook. America’s Car-Mart reported better than expected revenues. Deere & Company net and revenues surged. Nvidia reported better-than-expected results. Nordstrom lifted fiscal outlook after profit surged.[/R]

Tollbooth Index fell 25.24 or 0.2% to 15,999.43 but for the year-to-date soared 16.3%.

Earnings Review

Applied Materials Inc ((AMAT)) plunged 8.7% or $4.12 to $43.31 after the chip and display maker reported net sales in the third-quarter ending on July 29 soared 19% from a year ago to $4.5 billion.

Net income in the quarter surged 27% to $1.2 billion or $1.17 per diluted share from $925 million or 85 cents in the same quarter last year.

The chip and display maker forecasted fiscal 2018 net sales in the range of $17.1 billion to $17.4 and diluted earnings per share between $4.41 and $4.49.

America’s Car-Mart, Inc ((CRMT)) surged 20.2% or $13.50 to $80.50 after the used vehicles retailer said revenues in the fourth-quarter ending in July jumped 12.3% from a year ago to $164 million.

Same store sales in the quarter soared 12.1%

Net income in the quarter surged to 58.3% to $10.9 million or $1.53 per diluted share from profit of $7 million or 90 cents in the same quarter last year.

Deere & Co ((DE)) gained 1% or $1.42 to $138.77 after the agricultural, turf, construction equipment maker reported net sales in the third-quarter ending on July 29 jumped 41.8% from a year ago to $4.5 billion.

Net income in the quarter jumped 41.8% to $910.3 million or $2.78 per diluted share from $641.8 million or $1.97 in the same quarter last year.

The agricultural, turf equipment maker forecasted net sales and revenues to jump 26% and equipment sales to soar 30% and net income of about $2.36 billion.

The Madison Square Garden Company ((MSG)) dropped 2% or $6.15 to $296.96 after the sports and entertainment services provider stated revenues in the fourth-quarter ending in June advanced 4% from a year ago to $318 million.

Net loss in the quarter narrowed to $46.1 million or $1.94 per diluted share from $84.3 million or $3.58 in the same quarter last year.

Nvidia Corporation ((NVDA)) slumped 4.2% or $10.90 to $246.54 after the graphics chips maker said revenues sales in the second-quarter ending on July 29 surged 40% from a year ago to $3.1 billion.

Net income in the quarter soared 89% to $1.1 billion or $1.76 per diluted share from $583 million or 92 cents in the same quarter last year.

Nordstrom Inc ((JWN)) soared 11.8% or $6.18 to $58.46 after the department stores operator said total net sales in the second-quarter ending on August 4 jumped 7.1% from a year ago to $3.9 billion.

Comparable store sales in the quarter advanced 4%.

Net income in the quarter surged 47.3% to $162 million or 95 cents per diluted share from $110 million or 65 cents in the same quarter last year.

The retailer lifted fiscal 2018 diluted earnings per share forecast between $3.50 and $3.65 from the earlier estimate of $3.35 to $3.55.