VMware Jumps on Soaring Clod Revenues, HP Net Doubles

Mukesh Buch
30 Nov, 2018
New York City

GameStop estimated weaker-than-expected forecast. HP net more than doubled. PVH beat earnings estimates. VMware revenues were ahead of expectations as cloud revenues support growth.

[R]11:25 AM New York City, New York – GameStop estimated weaker-than-expected forecast. HP net more than doubled. PVH beat earnings estimates. VMware revenues were ahead of expectations as cloud revenues support growth.[/R]

Tollbooth Index edged up 2.35 to 15,242.81 but for the year-to-date soared 10.8%.

Earnings Review

Citi Trends Inc ((CTRN)) slumped 2.8% or 64 cents to $22.23 after the apparel and accessories retailer said total sales in the third-quarter ending on October 28 fell 0.8% from a year ago to $175.4 million.

Comparable store sales in the quarter increased 0.6%.

Net in the quarter swung to a loss of $0.5 million or 4 cents per diluted share from profit of $0.6 million or 5 cents in the same quarter last year.

The retailer forecasted fiscal 2018 total sales growth to fall in the range of 3% to 4% and diluted earnings per share between $1.66 and $1.71.

GameStop Corp ((GME)) tumbled 9.6% or $1.41 to $13.22 after the video game, consumer electronics and wireless services retailer reported total sales in the third-quarter ending on November 3 jumped 4.8% from a year ago to $2.1 billion.

Comparable store sales in the quarter advanced 2.1%.

Net in the quarter swung to a loss of $488.6 million or $4.78 per diluted share from profit of $59.4 million or 59 cents in the same quarter last year.

GameStop forecasted fiscal 2018 sales growth to decline to between 2% and 6% and comparable store sales between flat and 5% decline and diluted earnings per share in the range of $2.55 to $2.75.

HP Inc ((HPQ)) slid 0.1 cent to 22.80 after the information technology provider reported net revenues in the fourth-quarter ending in October soared 10% from a year ago to $15.4 billion.

Net income in the quarter more than doubled to $1.5 billion or 91 cents per diluted share from $660 million or 39 cents in the same quarter last year.

HP said strong revenues were driven by sells growth in personal computers and notebooks and acquisition of Samsung''s printer business.

HP forecasted fiscal 2019 diluted earnings per share in the range of $2.04 to $2.14.

PVH Corp ((PVH)) jumped 4.2% or $4.55 to $114.32 after the apparels maker said net sales in the third-quarter ending on November 4 surged 7% from a year ago to $2.5 billion.

Net income in the quarter rose 1.6% to $242.6 million or $3.15 per diluted share from $238.7 million or $3.05 in the same quarter last year.

PVH forecasted fiscal 2018 diluted earnings per share in the range of $9.10 to $9.12 from $6.84 in the same period a year ago and total revenues growth of about 7%.

VMware Inc ((VMW)) advanced 2.9% or $4.78 to $166.26 after the cloud computing and virtual software provider reported total revenues in the third-quarter ending on November 3 surged 14% from a year ago to $2.2 billion.

Net income in the quarter plunged 15.4% to $334 million or 81 cents per diluted share from $395 million or 96 cents in the same quarter last year.