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DAILY EARNINGS

Brookfield, Dillard's, Nordstrom Net Plunge; Nvidia Net Surges


Author: Mukesh Buch
ticker.com
Last Update: 12:03 PM ET August 12 2016

12:00 PM New York Brookfield Asset Management second-quarter net tumbled 71% to $185 million. Dillard''s second-quarter net declined 60% to $12 million. J C Penney second-quarter net loss narrowed to $56 million. Nordstrom second-quarter net plunged 45% to $117 million. Nvidia second-quarter net surged to $253 million.

Tollbooth Index slid 5.80 to 11,177.32.

Earnings Review

Applied Industrial Technologies (AIT), the industrial products supplier said net sales in the fourth-quarter ending in June plunged 6.4% from a year ago to $634 million.

Net income in the quarter slumped 6.8% to $26.1 million or 66 cents per diluted share compared to the $28 million or 70 cents per share from the same quarter last year.

Brookfield Asset Management Inc (BAM), the alternative asset manager reported revenues in the second-quarter ending in June soared 21.3% from a year ago to $5.97 billion.

Net income in the quarter tumbled 71.3% to $185 million or 15 cents per diluted share compared to the $645 million or 62 cents per share from the same quarter last year.

Dillard''s, Inc (DDS), the apparel, cosmetics and home furnishing retailer said net sales in the second-quarter ending in July dropped 3.9% from a year ago to $1.45 billion.

Comparable store sales in the quarter slumped 5%.

Net income in the quarter declined 59.5% to $12.1 million or 35 cents per diluted share compared to the $29.9 million or 75 cents per share from the same quarter last year.

J C Penney Company Inc (JCP), the department stores operator reported sales in the second-quarter ending in July fell 2% from a year ago to $4.2 billion.

Comparable store sales in the quarter increased 2.2%.

Net loss in the quarter narrowed to $56 million or 18 cents per diluted share compared to the $117 million or 38 cents per share from the same quarter last year.

The retailer reaffirmed comparable store sales in the full-year to increase between 3% and 4% and operating profit of about $1 billion.

Nordstrom, Inc (JWN), the fashion specialty retailer stated total sales in the second-quarter ending in July slid 0.2% from a year ago to $3.6 billion.

Comparable store sales in the quarter slipped 1.2%.

Net income in the quarter plunged 44.5% to $117 million or 67 cents per diluted share compared to the $211 million or $1.09 per share from the same quarter last year.

Nordstrom lifted earnings per diluted share in the year between $2.60 and $2.75 from earlier estimated range of $2.50 to $2.70 and net sales to increase between 2.5% and 4.5%.

Nvidia Corporation (NVDA), the graphics processors maker reported revenues in the second-quarter ending in July jumped 24% from a year ago to $1.4 billion.

Net income in the quarter surged to $253 million or 40 cents per diluted share compared to the $26 million or 5 cents per share from the same quarter last year.

The graphics processors maker estimated revenues in the third-quarter of about $1.68 billion, plus or minus 2% and gross margins between 57.8% and 58% and operating expenses of about $530 million.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc