Medtronic Lifts Outlook, Toll Brothers Surges on Rising Home Demand

Mukesh Buch
21 Aug, 2018
New York City

Coty tumbled on weak revenues. Medtronic lifted fiscal outlook after profit soared. Smucker after lowered fiscal outlook. Kohl''s lifted fiscal outlook. Toll Brothers profit jumped on strong demand. TJX jumped after lifted fiscal outlook.

[R]12:25 PM New York City, New York – Coty tumbled on weak revenues. Medtronic lifted fiscal outlook after profit soared. Smucker after lowered fiscal outlook. Kohl''s lifted fiscal outlook. Toll Brothers profit jumped on strong demand. TJX jumped after lifted fiscal outlook.[/R]

Tollbooth Index increased 50.33 or 0.3% to 16,167.86 but for the year-to-date soared 17.5%.

Earnings Review

Coty, Inc ((COTY)) tumbled 10.7% or $1.32 to $11.08 after the beauty cosmetic, skin, fragrance & hair products maker reported net revenues in the fourth-quarter ending in June jumped 3% from a year ago to $2.3 billion.

Net loss in the quarter narrowed to $181.3 million or 24 cents per diluted share from $304.8 million or 41 cents in the same quarter last year.

Medtronic Plc ((MDT)) jumped 4.4% to $4.01 to $94.05 after the Ireland-based medical device maker reported revenues in the first-quarter ending on July 27 were flat from a year ago to $7.4 billion.

Net income in the quarter soared 13% to $1.1 billion or 79 cents per diluted share from $1 billion or 74 cents in the same quarter last year.

Medtronic lifted fiscal 2019 revenues growth in the range of 4.5% to 5% from the earlier estimate of 4% to 4.5% and diluted earnings per share between $5.10 and $5.15.

The J. M. Smucker Company ((SJM)) declined 5.2% or $6.05 to $109.82 after the branded food and beverage products maker said net sales in the first-quarter ending in July soared 9% from a year ago to $1.9 billion.

Net income in the quarter jumped 5% to $133 million or $1.17 per diluted share from $126.8 million or $1.12 in the same quarter last year.

The food and beverage products maker lowered fiscal 2019 revenues forecast to about $8 billion from the earlier estimate of $8.3 billion and diluted earnings per share were unchanged from the earlier estimate of $8.40 to $8.65.


Kohl''s Corporation ((KSS)) slipped 1.4% or $1.13 to $77.72 after the department stores operator reported revenues in the second-quarter ending on August 4 rose 4% from a year ago to $4.6 billion.

Comparable store sales in the quarter jumped 3.1%.

Net income in the quarter surged 40% to $292 million or $1.76 per diluted share from $208 million or $1.24 in the same quarter last year.

Kohl''s lifted fiscal 2018 diluted earnings per share forecast in the range of $4.96 to $5.36 from the earlier estimate of $4.86 to $5.31.

Toll Brothers Inc ((TOL)) surged 11.3% or $3.93 to $38.66 after the luxury home builder said revenues in the third-quarter ending in July soared 27% from a year ago to $1.9 billion.

Net income in the quarter jumped 30.1% to $193.3 million or $1.26 per diluted share from $148.6 million or 87 in the same quarter last year.

The home builder said net signed contracts surged 12% to $2.03 billion and contract units advanced 7% to 2,316.

In the fourth-quarter, the luxury home builder forecasted deliveries between 2,550 units and 2,850 units with an average price of between $840,000 and $870,000

Toll Brothers forecasted fiscal 2018 deliveries between 8,100 units and 8,400 units with an average price of between $835,000 and $860,000.

The TJX Companies, Inc ((TJX)) jumped 4.3% or $4.37 to $106.02 after the off-price department store operator reported net sales in the second-quarter ending on August 4 surged 12% from a year ago to $9.3 billion.

Comparable store sales in the quarter advanced 6%.

Net income in the quarter soared 33.7% to $739.6 million or $1.17 per diluted share from $552.9 million or 85 in the same quarter last year.

TJX lifted fiscal 2019 forecast diluted earnings per share forecast in the range of $4.83 to $4.88, an increase of 20% to 21% from a year ago period and comparable store sales growth between 3% and 4%.