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Market Update

Adobe Profit Surges, Tiffany Net Plunges; Aeropostale Tumbles


Author: Mukesh Buch
ticker.com
Last Update: 12:54 PM ET March 18 2016

12:50 PM New York Adobe Systems net surged three-fold on the back of 25% jump in revenues. Aeropostale net loss widened after sales tumbled. Gordmans Stores net plunged 52%. Myokardia net loss widened on flat revenues. Tiffany profit tumbled 17% and sales declined 6%.

Tollbooth Index gained 27.79 or 0.3% to 10,684.92.

Earnings Review

Adobe Systems Inc (ADBE) soared 5.2% or $4.71 to $94.67 after the software developer reported revenues in the first-quarter ending on February 27 jumped 25% from a year ago to $1.38 billion.

Net income in the quarter surged 200% to $254.3 million or 50 cents per diluted share compared to $84.9 million or 17 cents per share from the same quarter last year.

Aeropostale Inc (ARO) tumbled 46.6% or 21.9 cents to 25.1 cents after the specialty retailer said net sales in the fourth-quarter ending in January declined 16.1% from a year ago to $498 million.

Same store sales in the quarter plummeted 6.7%.

Net loss in the quarter widened to $21.7 million or 27 cents per diluted share compared to $13.5 million or 17 cents per share from the same quarter last year.

The retailer estimated operating losses in the first-quarter in the range of $24 million to $29 million and net loss per diluted share in the range of 35 cents to 42 cents.

Gordmans Stores, Inc (GMAN) slumped 3.5% or 9 cents to $2.46 after the department store operator said net sales in the fourth-quarter ending in January edged up 0.9% from a year ago to $205.7 million.

Same store sales in the quarter fell 2.3%.

Net income in the quarter plunged 52.2% to $1.1 million or 6 cents per diluted share compared to $2.3 million or 12 cents per share from the same quarter last year.

In the first-quarter, the retailer forecasted net sales between $146 million and $150 million and diluted loss per share in the range of 10 cents to 6 cents.

Myokardia Inc (MYOK) increased 2.4% or 22 cents to $9.46 after the clinical-stage biopharmaceutical developer stated revenues in the fourth-quarter ending in December were flat from a year ago to $3.55 million.

Net loss in the quarter widened to $8.5 million or 48 cents per diluted share compared to $3.4 million or $1.62 per share from the same quarter last year.

Tiffany & Co (TIF) gained 2% or $1.40 to $71.52 after the jeweller and watch retailer reported net sales in the fourth-quarter ending in January declined 6.2% from a year ago to $1.21 billion.

Comparable store sales in the quarter plunged 9%.

Net income in the quarter tumbled 16.8% to $163.2 million or $1.28 per diluted share compared to $196.2 million or $1.51 per share 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