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Market Update

Alibaba Soars on Revenue Jump; Kohls Macys in Focus


Author: Mukesh Buch
ticker.com
Last Update: 9:51 AM ET August 11 2016

12:00 PM New York Alibaba net tumbled. Brinker Intl profit and revenues surged. Kohl''s net advanced 8% but the retail chain lowered earnings forecast. Macy''s profit tumbled 95%. Perrigo net jumped three-fold. Vista Outdoor net plunged 14%.

Tollbooth Index increased 21.62 or 0.2% to 11,181.77.

Earnings Review

Alibaba Group Holding Ltd (BABA) jumped 5.7% or $4.93 to $92.26 after the online and mobile marketplace operator reported revenues in the first-quarter ending in June jumped 59% from a year ago to $4.8 billion.

Net income in the quarter tumbled 77% to $1.1 billion or 44 cents per diluted share from the same quarter last year.

Brinker International, Inc (EAT) surged 9.4% or $4.42 to $51.39 after the restaurant operator said revenues in the fourth-quarter ending on June 29 increased 15.4% from a year ago to $881.7 million.

System-wide comparable restaurant sales in the quarter dropped 2.2%

Net income in the quarter jumped 8.9% to $62.3 million or $1.11 per diluted share compared to the $57.2 million or 92 cents per share from the same quarter last year.

In the year, the restaurant operator estimated diluted earnings per share in the range of $3.40 to $3.50.

Kohl''s Corporation (KSS) surged 13.8% or $5.26 to $43.33 after the department stores operator reported sales in the second-quarter ending in July fell 2% from a year ago to $4.2 billion.

Comparable store sales in the quarter decreased 1.8%.

Net income in the quarter advanced 8% to $140 million or 77 cents per diluted share compared to the $130 million or 66 cents per share from the same quarter last year.

Kohl''s lowered diluted earnings per share estimate in the year between $3.12 and $3.32 compared to the prior guidance of $4.05 to $4.25.

Macy''s Inc (M) soared 15.4% or $5.18 to $39.20 after the home furnishings, apparel and accessories retailer said sales in the second-quarter ending in July slid 3.9% from a year ago to $5.9 billion.

Comparable store sales in the quarter slumped 2.6%.

Net income in the quarter tumbled 94.9% to $11 million or 3 cents per diluted share compared to the $217 million or 64 cents per share from the same quarter last year.

The retailer forecasted diluted earnings per share estimate in the range of $3.15 to $3.40 and comparable sales to decrease between 3% and 4%.

Perrigo Company Plc (PRGO) fell 28 cents to $85.75 after the Ireland-based consumer goods and pharmaceutical products maker stated total revenues in the second-quarter ending on July 2 slipped 3% from a year ago to $1.5 billion.

Net income in the quarter surged 244% to $194.3 million or $1.35 per diluted share compared to the $56.4 million or 38 cents per share from the same quarter last year.

Vista Outdoor Inc (VSTO) tumbled 17.6% or $9.02 to $42.32 after the sports and recreation products maker said net sales in the first-quarter ending on July 3 soared 22.5% from a year ago to $630.3 million.

Net income in the quarter plunged 14.1% to $29.1 million or 48 cents per diluted share compared to the $33.9 million or 53 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