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Market Update

Agilent, Home Depot, TJX, Wal-Mart Soar; Dicks Sporting, Urban Outfitters Drop


Author: Mukesh Buch
ticker.com
Last Update: 11:42 AM ET November 17 2015

11:30 AM New York Agilent net surged. Constellation Brands agreed to acquire Ballast Point Brewing for $1 billion. Dicks Sporting sales jumped 8%. Home Depot net and sales soared. TJX profit fell but lifted earnings outlook. Urban Outfitters net surged 10%. Wal-Mart net plunged 11%.

Tollbooth Index increased 55.85 or 0.5% to 10,834.72.

Earnings Review

Agilent Technologies Inc (A) increased 2.4% or 88 cents to $38.20 after the diagnostics equipment maker said revenues in the fourth-quarter ending in October fell 1% from a year ago to $1.04 billion.

Net income in the quarter surged to $140 million or 42 cents per diluted share compared to $23 million or 7 cents per share from the same quarter last year.

The company forecasted revenues for the first-quarter in the range of $1 billion to $1.02 billion and non-GAAP earnings per share between 42 cents and 44 cents.

For the year, Agilent estimated revenues between $4.15 billion to $4.17 billion and non-GAAP earnings per share in the range of $1.85 to $1.91.

Constellation Brands, Inc (STZ) gained 1.7% or $2.36 to $137.66 after the alcoholic beverage maker agreed to buy San Diego-based craft beer maker Ballast Point Brewing & Spirits for about $1 billion in cash and debt.

The transaction is expected to close before the end of the year.

Dicks Sporting Goods Inc (DKS) tumbled 16.6% or $6.76 to $34.09 after the sporting goods retailer stated net sales in the third-quarter ending in October jumped 7.6% from a year ago to $1.6 billion.

Net income in the quarter dropped 4.1% to $47.2 million compared to $49.2 million and diluted earnings per share were flat at 41 cents per share from the same quarter last year.

Home Depot Inc (HD) jumped 3.1% or $$3.71 to $124.58 after the home improvement retailer reported net sales in the third-quarter ending in October soared 6.4% from a year ago to $21.8 billion.

Comparable store sales in the quarter jumped 5.1% and for the U.S. comp stores sales advanced 7.3%.

Net income in the quarter surged 13.3% to $1.7 billion or $1.35 per diluted share compared to $1.5 billion or $1.15 per share from the same quarter last year.

Home Depot forecasted sales growth for the year of about 5.7% and comparable store sales to increase approx 4.9% and diluted earnings per share to surge 14% to $5.36.

TJX Companies Inc (TJX) advanced 3.3% or $2.18 to $67.90 after the off-price apparel and home fashions retailer said reported net sales in the third-quarter ending in October increased 5% from a year ago to $7.8 billion.

Comparable store sales in the quarter rose 5%.

Net income in the quarter slipped 1.3% to $587.3 million or 86 cents per diluted share compared to $595 million or 85 cents per share from the same quarter last year.

The retailer estimated diluted earnings per share for the fiscal year ending in January, 2016 in the range of $3.26 to $3.28 from $3.15 in Fiscal 2015.

Urban Outfitters, Inc (URBN) tumbled 13.7% or $3.11 to $19.58 after the lifestyle retailer stated net sales in the third-quarter ending in October rose 1% from a year ago to $825.3 million.

Comparable store sales in the quarter gained 1%.

Net income in the quarter soared 10.4% to $52 million or 42 cents per diluted share compared to $47.1 million or 35 cents per share from the same quarter last year.

Separately, the lifestyle specialty retailer agreed to acquire The Vetri Family group of restaurants including award winning Pizzeria Vetri for undisclosed financial terms.

Wal-Mart Stores, Inc (WMT) soared 4.3% or $2.50 to $60.37 after the everyday low prices retailer reported total revenues in the third-quarter ending in October fell 1.3% from a year ago to $117.4 billion.

U.S. Comparable store sales in the quarter rose 1.5% and the traffic increased 1.7%.

Net income in the quarter plunged 11% to $3.30 billion or $1.03 per diluted share compared to $3.71 billion or $1.15 per share from the same quarter last year.

Walmart international sales in the quarter declined 11.4% to $29.8 billion and sales in Sam''s Club segment dropped 2.2% to $14.08 billion and comparable store sales gained 0.4%.

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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