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Market Update

Accenture, Lululemon, Red Hat, Signet Surge; SanDisk Tumbles


Author: Mukesh Buch
ticker.com
Last Update: 12:46 PM ET March 26 2015

12:40 PM New York Accenture Net climbed 9%. ConAgra net swung to a loss but lifted earnings forecast. Lululemon surged 7% on positive outlook. PVH net swung to profit. Red Hat net jumped 6% on 15% increase in revenues. Signet Jewelers net rose 1%. SanDisk tumbled 17%.

Tollbooth Index edged up 0.09% or 9.03 to 10,419.58.

Earnings Review

Accenture Plc (ACN) surged 7.6% or $6.67 to $94.88 after the Ireland-based outsource services provider reported revenues in the second-quarter ending in February jumped 4.7% to $7.93 billion from a year ago period.

Net income in the quarter climbed 9.2% to $690.7 million or $1.08 per diluted share compared to $671.3 million or $1.03 from the same quarter last year.

ConAgra Foods Inc (CAG) dropped 2.3% or 79 cents t o $34.15 after the packaged food and beverage maker reported total revenues in the third-quarter ending on February 22 slipped 1.8% to $3.88 billion from a year ago period.

Net in the quarter swung to a loss of $954.1 million or $2.23 per diluted share compared to profit of $234.3 million or 55 cents from the same quarter last year.

The company lifted adjusted earnings per share forecast for the year in the range of $2.15 to $2.19 from earlier estimate in the range of $2.13 to $2.18 per share.

Lululemon Athletica Inc (LULU) climbed 6.7% or $4.06 to $64.99 after the yoga and athletic apparel retailer said net revenues in the fourth-quarter ending on February 1 soared 16% to $602.5 million from a year ago period.

Comparable store sales in the quarter jumped 5% and total comparable store sales and direct to consumer climbed 8%.

Net income in the quarter rose 1.1% to $110.9 million or 78 cents per diluted share compared to $109.7 million or 75 cents from the same quarter last year.

For the fiscal first quarter, the company forecasted net revenue to be in the range of $413 million to $418 million and total comparable sales increase in the low single digits and diluted earnings per share between 31 cents and 33 cents.

For the year, the company estimated net revenues between $1.97 billion and $2.02 billion and diluted earnings per share in the range of $1.85 to $1.90.

PVH Corp (PVH) gained 1.7% or $1.75 to $105.78 after the apparel maker stated total revenues in the fourth-quarter ending on February 1rose 0.9% to $2.07 billion from a year ago period.

Net in the quarter swung to profit $51.5 million or 62 cents per diluted share compared to a loss of $37.5 million or 46 cents from the same quarter last year.

Red Hat Inc (RHT) soared 9.5% or $6.48 to $74.87 after the software developer said revenues in the fourth-quarter ending in February climbed 15.2% to $405.1 million from a year ago period.

Net income in the quarter jumped 5.7% to $47.7 million or 26 cents per diluted share compared to $45.1 million or 24 cents from the same quarter last year.

Signet Jewelers Ltd (SIG) jumped 5.2% or $6.58 to $133.91 after the Bermuda-based specialty jewellery retailer stated sales in the fourth-quarter ending on February advanced 3.3% to $1.56 billion from a year ago period.

Same-store sales in the quarter climbed 4.2%.

Net income in the quarter increased 1.9% to $175.2 million or $2.18 per diluted share compared to $171.8 million or $2.12 from the same quarter last year.

SanDisk Corporation (SNDK) tumbled 16.9% or $13.76 to $64.47 after the storage devices maker forecasted revenues for the first-quarter ending on March 29 of about $1.3 billion compared to earlier estimated range between $1.40 billion and $1.45 billion.

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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