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DAILY EARNINGS

Echostar Net Jumps; Deere & Co, Nordstrom Net Decline


Author: Mukesh Buch
ticker.com
Last Update: 11:55 AM ET February 20 2015

12:30 AM New York Echostar fourth-quarter net surged 68% to $55 million. Deere & Co first-quarter net tumbled 43% to $387 million. Intuit second-quarter net loss widened to $66 million. Laboratory Corp of America fourth-quarter net fell 5% to $120 million. Nordstrom fourth-quarter net declined 5% to $255 million.

Tollbooth Index nearly flat at0.04 to 10,571.62.

Earnings Review

Echostar Corporation (SATS), the communication services provider said revenues in the fourth-quarter ending in December jumped 4.4% to $843.9 million from a year ago period.

Net income in the quarter surged 67.6% to $54.8 million or 59 cents per diluted share compared to $32.7 million or 5 cents from the same quarter last year.

Deere & Company (DE), the agricultural and turf equipment maker reported revenues in the first-quarter ending in January plunged 16.6% to $6.38 billion from a year ago period.

Net income in the quarter tumbled 43.2% to $386.8 million or $1.12 per diluted share compared to $681.1 million or $1.81 from the same quarter last year.

Intuit Inc (INTU), the financial service provider said revenues in the second-quarter ending in December jumped 3.3% to $ $808 million from a year ago period.

Net loss in the quarter widened to $66 million or 23 cents per diluted share compared to $37 million or 13 cents from the same quarter last year.

The company forecasted revenues for the third-quarter between $2.08 billion and $2.15 billion and adjusted earnings per share in the range of $2.70 to $2.75.

Laboratory Corporation of America Holdings (LH), the healthcare company reported net sales in the fourth-quarter ending in December increased 4.9% to $1.51 billion from a year ago period.

Net income in the quarter fell 5.3% to $119.6 million or $1.39 per diluted share compared to $126.3 million or $1.43 from the same quarter last year.

Marvell Technology Group Ltd (MRVL), the Bermuda-based fabless semiconductor provider said net revenues in the fourth-quarter ending in January declined 7.8% to $ $857.5 million from a year ago period.

Net income in the quarter plunged 29.1% to $81.7 million or 16 cents per diluted share compared to $115.3 million or 22 cents from the same quarter last year.

Nordstrom, Inc (JWN), the fashion specialty retailer reported net sales in the fourth-quarter ending in January jumped 9% to $ $3.9 billion from a year ago period. Total comparable store sales in the quarter climbed 4.7%.

Net earnings in the quarter declined 4.8% to $255 million or $1.32 per diluted share compared to $115.3 million or $1.37 from the same quarter last year.

The retailer forecasted net sales for the year to climb between 7% and 9% and comparable store sales to jump in the range of 2% to 4%.

Public Service Enterprise Group Incorporated (PEG), the utility provider said net sales in the fourth-quarter ending in December climbed 19.4% to $2.77 billion from a year ago period.

Net income in the quarter soared 138% to $476 million or 94 cents per diluted share compared to $200 million or 39 cents from the same quarter last year.
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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