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

HP Net plunges 62%, Medtronic Net Soared


Author: Mukesh Buch
ticker.com
Last Update: 3:15 AM ET November 23 2016

12:00 PM New York Caleres third-quarter net rose 2% to $35 million. Deere & Co fourth-quarter net surged 19% to $285 million. HP fourth-quarter net plunged 62% to $492 million. Hewlett Packard Enterprise fourth-quarter net tumbled 78% to $302 million. Medtronic second-quarter net doubled to $1.11 billion.

Tollbooth Index slipped 35.77 or 0.3% to 11,096.80.

Earnings Review

Caleres Inc, formerly Brown Shoe Company, Inc (CAL), the footwear retailer and wholesaler said net sales in the in the third-quarter ending on October 29 rose 0.5% from a year ago to $732.2 million.

Same store sales in the quarter advanced 2.1%.

Net income in the quarter rose 2.1% to $34.7 million or 81 cents per diluted share compared to the $34 million or 78 cents per share from the same quarter last year.

In the year, Caleres estimated net sales between $2.57 billion to $2.6 billion and diluted earnings per share in the range of $2.00 to $2.10 while same store sale to be between flat and increase in low-single digit.

Deere & Company (DE), the turf and agriculture equipment maker reported revenues in the fourth-quarter ending in October increased 3% from a year ago to $6.5 billion.

Net income in the quarter surged 18.8% to $285.3 million or 90 cents per diluted share compared to the $351.2 million or $1.08 per share from the same quarter last year.

The agriculture equipment maker forecasted net sales may decrease about 1% in fiscal 2017 on 1% fall in equipment sales but net income is estimated at about $1.4 billion.

HP Inc (HPQ), the computer and other devices maker reported net revenues in the fourth-quarter ending in October increased 2% from a year ago to $12.5 billion.

Net income in the quarter plunged 62.2% to $492 million or 28 cents per diluted share compared to $1.3 billion or 73 cents per share from the same quarter last year.

HP said net revenues in personal systems business jumped 4% and generated 4.3% in operating margin and net revenues in printing segment declined 8%.

In the fiscal 2017, HP estimated diluted net earnings from continuing operations in the range of $1.47 to $1.57.

Hewlett Packard Enterprise Co (HPE), the technology solutions provider said revenues in the fourth-quarter ending in October plummeted 7% from a year ago to $12.5 billion.

Net income in the quarter tumbled 78.4% to $302 million or 28 cents per diluted share compared to the $1.4 billion or 73 cents per share from the same quarter last year.

Medtronic Plc (MDT), Ireland-based medical devices maker stated revenues in the in the second-quarter ending on October 28 advanced 4% from a year ago to $7.3 billion.

Net income in the quarter double to $1.11 billion or 80 cents per diluted share compared to the $520 million or 36 cents per share from the same quarter last year.

Urban Outfitters, Inc (URBN), the lifestyle specialty retailer said total sales in the in the third-quarter ending in October jumped 5% from a year ago to $862.5 million.

Comparable store sales in the quarter increased 1%.

Net income in the quarter declined 8.8% to $47.4 million or 40 cents per diluted share compared to the $52 million or 42 cents per share from the same quarter last year.
  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc