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Market Update

Alcoa Net Drops but Lifts Outlook; Fastenal, Rocky Mountain Fall


Author: Mukesh Buch
ticker.com
Last Update: 3:05 AM ET July 12 2016

2:00 PM New York Alcoa said sales declined 10% and lifted forecasted. Alliance One Intl net surged on flat revenues. Fastenal profit slumped 6%. GMS net soared more than four-fold and sales surged 30%. Rocky Mountain Chocolate net fell 4%. VOXX Intl net loss widened.

Tollbooth Index gained 91.15 or 0.9% to 10,805.40.

Earnings Review

Alcoa Inc (AA) soared 5.2% or 53 cents to $10.67 after the aluminium producer reported revenues in the second-quarter ending in June declined 10.2% from a year ago to $5.3 billion.

Net income in the quarter plunged 3.6% to $135 million or 9 cents per diluted share compared to $140 million or 10 cents per share from the same quarter last year.

Alcoa forecasted full-year 2016 deliveries to be between flat to up 3%, as large commercial aircraft deliveries fell 1% in the first-half of 2016 but the management estimated shipment to jump 6% in the second-half of 2016.

Alliance One International, Inc (AOI) jumped 7.4% or $1.20 to $17.37 after the leaf tobacco merchant stated sales in the fourth-quarter ending in March were flat from a year ago at $732.3 million.

Net income in the quarter surged to $100.8 million or $11.33 per diluted share compared to $2.4 million or 27 cents per share from the same quarter last year.

Fastenal Company (FAST) dropped 3.5% or $1.61 to $43.73 after the industrial and construction equipment supplier said net sales in the second-quarter ending in June rose 1.6% from a year ago to $1 billion.

Net income in the quarter slumped 6.3% to $131.5 million or 46 cents per diluted share compared to $140.4 million or 48 cents per share from the same quarter last year.

GMS Inc (GMS) advanced 3.6% or 86 cents to $25 after the ceilings systems distributor reported net sales in the fourth-quarter ending in April surged 30.3% from a year ago to $527.2 million.

Net income in the quarter soared more than four-fold to $8.9 million or 27 cents per diluted share compared to $2.1 million or 7 cents per share from the same quarter last year.

Rocky Mountain Chocolate Factory, Inc (RMCF) slipped 2.3% or 24 cents to $10.35 after the chocolate and confectionery maker stated total revenues in the first-quarter ending in May plummeted 9.5% from a year ago to $9.4 million.

Net income in the quarter fell 4.1% to $0.73 million compared to $0.76 million and diluted earnings per share were flat at 12 cents from the same quarter last year.

VOXX International Corp (VOXX) plunged 7.6% or 23 cents to $2.74 after the rear-seat entertainment devices maker said net sales in the first-quarter ending in May slumped 5.4% from a year ago to $155.5 million.

Net loss in the quarter widened to $4.3 million or 18 cents per diluted share compared to $0.7 million or 3 cents 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