S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
DAILY EARNINGS

Analog Devices, Lowe's Net Rise; Staples Net Swing to Loss


Author: Mukesh Buch
ticker.com
Last Update: 7:41 AM ET August 17 2016

12:00 PM New York Analog Devices third-quarter net soared 35% to $230 million. American Eagle second-quarter net rose 5% to $42 million. Lowe's second-quarter net jumped 4% to $1.2 billion. Staples second-quarter net swung to a loss of $766 million. Target second-quarter net plunged 10% to $680 million.

Tollbooth Index slumped 45.44 or 0.4% to 11,087.18.

Earnings Review

Analog Devices, Inc (ADI), the integrated circuits maker reported revenues in the third-quarter ending in July rose 1% from a year ago to $869.6 million.

Net income in the quarter soared 35.1% to $230.4 million or 74 cents per diluted share compared to the $170.6 million or 55 cents per share from the same quarter last year.

American Eagle Outfitters (AEO), the apparel and accessories retailer said revenues in the second-quarter ending in July surged 35% from a year ago to $822.6 million.

Comparable store sales in the quarter increased 3%.

Net income in the quarter jumped 5.1% to $41.6 million or 23 cents per diluted share compared to the $33.3 million or 17 cents per share from the same quarter last year.

Eaton Vance Corp (EV), the investment advisor stated revenues in the third-quarter ending in June dropped 4% from a year ago to $341.2 million.

Net income in the quarter jumped 14.4% to $62.9 million or 55 cents per diluted share compared to the $55 million or 48 cents per share from the same quarter last year.

Lowe's Companies, Inc (LOW), the home improvement retailer reported net sales in the second-quarter ending in July advanced 5.3% from a year ago to $18.3 billion.

Comparable store sales in the quarter jumped 4.4% and comparable sales in the U.S. home improvement business increased 1.9%.

Net income in the quarter jumped 3.7% to $1.2 billion or $1.31 per diluted share compared to the $1.1 billion or $1.20 per share from the same quarter last year.

Staples, Inc (SPLS), the specialty retailer said net sales in the second-quarter ending in July dropped 4% from a year ago to $4.8 billion.

Comparable store sales in the quarter slumped 5%.

Net in the quarter swung to a loss of $766 million or $1.18 per diluted share compared to the profit of $36 million or 6 cents per share from the same quarter last year.

The retailer forecasted revenues third-quarter revenues to decline from a year ago period and diluted earnings per share in the range of 32 cents to 35 cents.

In the year, Staples estimated free cash to generate approx $600 million and plans to close at least 50 stores in North America in this year.

Target Corporation (TGT), the discount stores operator reported sales in the second-quarter ending in July declined 7.2% from a year ago to $16.2 billion.

Comparable store sales in the quarter fell 1.1%.

Net income in the quarter plunged 9.7% to $680 million or $1.16 per diluted share compared to the $753 million or $1.18 per share from the same quarter last year.

Target lowered estimated comparable store sales in the second-half of the year and same-store sales in the range of -2% to 0% while diluted earnings per share between $4.36 and $4.76 compared to the previous range of $4.76 to $4.96.
  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc