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DAILY EARNINGS

Home Depot Net Jumps 18%, TJX Net Declines 6%


Author: Mukesh Buch
ticker.com
Last Update: 4:04 AM ET November 15 2016

12:00 PM New York Dicks Sporting third-quarter net jumped 4% to $49 million. Home Depot third-quarter net soared 18% to $2 billion. Teva Pharmaceutical third-quarter net surged three-fold to $412 million. The TJX third-quarter net declined 6% to $550 million.

Tollbooth Index advanced 106.32 or 1.6% to 10,848.54.

Earnings Review

Dicks Sporting Goods Inc (DKS), the sporting goods retailer said net sales in the third-quarter ending on October 29 soared 10.2% from a year ago to $1.8 billion.

Same store sales across all brands in the quarter advanced 5.2%. Same store sales in Dick''''s Sporting Goods surged 5.5% while Golf Galaxy decreased 3.3%.

Net income in the quarter jumped 3.6% to $48.9 million or 44 cents per diluted share compared to the $47.2 million or 41 cents per share from the same quarter last year.

The sporting goods retailer lifted annual diluted earnings per share forecast for the year in the range of $2.91 to 3.03 and same store sales to increase approx 3% to 4% compared to the decrease of 0.2% in fiscal 2015.

Home Depot Inc (HD), the home improvement retailer reported sales in the third-quarter ending on October 30 rose 6.1% from a year ago to $23.2 billion.

Comparable store sales in the quarter advanced 5.5% and sales in the U.S. based stores jumped 5.9%.

Net income in the quarter soared 17.6% to $2 billion or $1.60 per diluted share compared to the $1.7 billion or $1.60 per share from the same quarter last year.

The retailer reaffirmed sales forecasted in fiscal 2016 to jump 6.3% and comparable sales to increase 4.9% and also lifted diluted earnings per share estimate to grow approx 15.9% from fiscal 2015 to $6.33.

Teva Pharmaceutical Industries Ltd (TEVA), Israel-based generic drugs maker stated revenues in the third-quarter ending in September jumped 15% from a year ago to $5.6 billion.

Net income in the quarter surged three-fold to $412 million or 35 cents per diluted share compared to the $103 million or 12 cents per share from the same quarter last year.

Teva Pharma forecasted revenues in the year between $21.6 billion and $21.9 billion and in the fourth-quarter in the range of $6.2 billion and $6.5 billion.

The TJX Companies Inc (TJX), the off-price apparel and home fashions retailer reported sales in the third-quarter ending on October 29 advanced 7% from a year ago to $8.3 billion.

Comparable store sales in the quarter jumped 5% and in the U.S. stores jumped 5.9%.

Net income in the quarter declined 6.4% to $549.8 million or 83 cents per diluted share compared to the $587.3 million or 86 cents per share from the same quarter last year.

TJX lowered diluted earnings per share forecast in the fourth-quarter in the range of 96 cents to 98 cents from 99 cents reported in a year ago period.

In the year, the off-price retailer estimate diluted earnings per share between $3.39 and $3.41 compared to the prior guidance of $3.39 to $3.43.
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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