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Market Update

Arcos, Burlington Stores, DSW Soar; Macerich Rejects $14.4 B Offer


Author: Mukesh Buch
ticker.com
Last Update: 9:50 AM ET March 17 2015

12:30 PM New York – Arcos Dorados net tumbled 69% on 13% decline in revenues. Burlington Stores profit surged 49%. DSW net jumped 8%. FactSet Research profit soared 18%. EU antitrust regulator extended deadline on Alstom acquisition. Macerich rejected $14.39 billion unsolicited offer.

Tollbooth Index fell 0.2% or 21.47 to 10,643.49.

Earnings Review

Arcos Dorados Holdings Inc (ARCO) surged 23.4% or $1 to $5.24 after the Argentina-based restaurant said net revenues in the fourth-quarter ending in December dropped 12.7% to $913.6 million from a year ago period.

Net income in the quarter tumbled 68.8% to $10 million or 5 cents per diluted share compared to $32.1 million or 15 cents from the same quarter last year.

Burlington Stores, Inc. (BURL) advanced 3.6% or $2.04 to $59.42 after the branded apparel retailer reported net revenues in the fourth-quarter ending in December soared 11.3% to $151.1 million from a year ago period.

Comparable store sales in the quarter jumped 6.7%.

Net income in the quarter surged 48.9% to $94.7 million compared to $63.6 million from the same quarter last year.

DSW Inc. (DSW) climbed 4.7% or $1.67 to $38.52 after the footwear and accessories retailer stated net revenues in the fourth-quarter ending in December advanced 5.4% to $2.5 billion from a year ago period.

Comparable store sales in the quarter increased 1.8%.

Net income in the quarter jumped 8.1% to $30.8 million or 34 cents per diluted share compared to $28.1 million or 30 cents from the same quarter last year.

FactSet Research Systems Inc. (FDS) rose 0.2% or 31 cents to $154.50 after the financial information integration systems provider said net revenues in the second-quarter ending in February jumped 9.2% to $247.8 million from a year ago period.

Net income in the quarter soared 17.6% to $61.6 million or $1.46 per diluted share compared to $52.4 million or $1.22 from the same quarter last year.

General Electric Company (GE) slipped 1.3% or 34 cents to $25.11 after the European Union’s antitrust regulator extended its deadline by a month to rule on diversified industrial conglomerate’s $17 billion acquisition of France-based Alstom''s power equipment business.

Macerich Co (MAC) dropped 2.9% or $2.71 to $92.17 after the strip mall operator rejected the $14.39 billion unsolicited offer from Simon Property Group Inc.

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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