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Market Update

Analog Devices, Dollar Tree Soar; Cracker Barrel, Tech Data Plunge


Author: Mukesh Buch
ticker.com
Last Update: 11:56 AM ET November 24 2015

11:50 PM New York Analog Devices net plunged 11% but revenues surged 20%. Cracker Barrel net jumped 20%. Campbell Soup net tumbled 19% to $315 million. Dollar Tree net fell 8%. Eaton Vance net and revenues declined. Tiffany profit surged but cited cautious outlook. Tech Data net edged up.

Tollbooth Index slipped 42.17 or 0.4% to 10,987.02.

Earnings Review

Analog Devices, Inc (ADI) soared 4.7% or $2.65 to $59.45 after the electronic equipment maker reported revenues in the fourth-quarter ending in October jumped 20% from a year ago to $979 million.

Net income in the quarter plunged 11.4% to $96.3 million or 30 cents per diluted share compared to $108.7 million or 34 cents per share from the same quarter last year.

Beacon Roofing Supply, Inc (BECN) surged 7.5% or $2.89 to $41.26 after the roofing materials distributor said total sales in the fourth-quarter ending in September advanced 8.4% from a year ago to $787.7 million.

Net income in the quarter soared 27.3% to $30.8 million or 61 cents per diluted share compared to $24.2 million or 48 cents per share from the same quarter last year.

Cracker Barrel Old Country Store, Inc (CBRL) plummeted 5.1% or $7.07 to $132.06 after the restaurant and gift shop operator stated revenues in the first-quarter ending in October rose 2.8% from a year ago to $702.6 million.

Comparable restaurant store sales in the quarter increased 2.5% and comparable retail store sales gained 2.4%.

Net income in the quarter jumped 20% to $40.9 million or $1.70 per diluted share compared to $34 million or $1.42 per share from the same quarter last year.

For the second-quarter, the restaurant and gift shop operator in the range of $1.80 to $1.90.

The company reaffirmed diluted earnings per share for the fiscal 2016 between $7.15 and $7.30.

Campbell Soup Company (CPB) increased 2.9% or $1.47 to $51.26 after the ready-to-serve soups maker said net sales in the first-quarter ending on November 1 fell 2% from a year ago to $2.20 billion.

Same-store sales in the quarter jumped 5.9%.

Net income in the quarter tumbled 19% to $315 million or 62 cents per diluted share compared to $389 million or 78 cents per share from the same quarter last year.

Dollar Tree, Inc (DLTR) jumped 4.8% or $3.34 to $72.89 after the deep discount stores operator reported net sales in the third-quarter ending in October surged 136% from a year ago to $4.95 billion.

Same-store sales in the quarter jumped 5.9%.

Net income in the quarter plunged 8.2% to $81.9 million or 35 cents per diluted share compared to $89.2 million or 38 cents per share from the same quarter last year.

The retailer forecasted net sales for the fourth-quarter between $5.32 billion and $5.42 billion.

For the year, the retailer estimated net sales in the range of $15.45 billion to $15.55 billion and net income between $213.2 million to $242.2 million and diluted earnings per share in the range of $2.32 to $2.51.

Eaton Vance Corp (EV) declined 3.7% or $1.39 to $36.19 after the investment adviser said revenues in the fourth-quarter ending in October slumped 7.3% from a year ago to $341.5 million.

Net income in the quarter dropped 9.5% to $62.2 million or 53 cents per diluted share compared to $68.7 million or 57 cents per share from the same quarter last year.

SunEdison Inc (SUNE) surged 8.3% or 25 cents to $3.25 after the photovoltaic energy solution provider plans to sell about 400 megawatts of solar power capacity in India for about $350 million to raise its cash flow.

Tiffany & Co (TIF) rose 21 cents to $76.78 after the jewelry and watch retailer stated net sales in the third-quarter ending in October slipped 2.2% from a year ago to $938.2 million.

Net income in the quarter surged 137.6% to $91 million or 70 cents per diluted share compared to $38.3 million or 29 cents per share from the same quarter last year.

Tech Data Corp (TECD) tumbled 11.6% or $8.78 to $67.95 after the technology products distributor net sales in the third-quarter ending in October declined 4.4% from a year ago to $6.43 billion.

Net income in the quarter rose 0.5% to $41.9 million or $1.18 per diluted share compared to $41.7 million or $1.07 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