S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

AutoZone Jumps; Carnival, ConAgra, CarMax, Red Hat, Thor Drop


Author: Mukesh Buch
ticker.com
Last Update: 12:00 PM ET September 22 2015

11:55 AM New York AutoZone revenues and profit jumped. Carnival net and sales fell but lifted fiscal earnings outlook. ConAgra net swung to a loss. CarMax net surged 12%. Darden Restaurants lifted fiscal earnings outlook. General Mills net surged 24%. Red Hat profit jumped 9%.

Tollbooth Index slipped 131.91 or 1.3% to 10,302.30.

Earnings Review

AutoZone, Inc (AZO) increased 1.9% or $13.75 to $742.11 after the auto parts and accessories retailer said net sales in the fourth-quarter ending on August 29 soared 7.9% from a year ago to $3.29 billion.

Same store sales in the quarter advanced 4.5%.

Net income in the quarter jumped 7.4% to $401.1 million or $12.75 per diluted share compared to $373.7 million or $11.28 from the same quarter last year.

Carnival Corporation (CCL) dropped 2.6% or $1.36 to $51.32 after the cruise operator reported total revenues in the third-quarter ending in August slid 1.4% from a year ago to $4.88 billion.

Net income in the quarter fell 1.6% to $1.22 billion or $1.56 per diluted share compared to $1.24 billion or $1.60 from the same quarter last year.

The company lifted non-GAAP diluted earnings per share forecast for the year to between $2.56 and $2.60 compared to the earlier estimated range of $2.35 to $2.50 and reported non-GAAP diluted earnings per share of $1.93.

ConAgra Foods Inc (CAG) declined 4.5% or $1.92 to $40.48 after the packaged food maker said total sales in the first-quarter ending in August rose 1.1% from a year ago to $2.79 billion.

Net in the quarter swung to a loss of $1.24 billion or $2.85 per diluted share compared to profit of $482.3 million or $1.12 from the same quarter last year.

CarMax, Inc (KMX) slumped 6.8% or $4.24 to $58.42 after the used vehicles products and services provider stated revenues in the second-quarter ending in August soared 7.9% from a year ago to $3.88 billion.

Comparable store used unit sales in the quarter jumped 4.6% and wholesale vehicle unit sales advanced 8.7% and total used unit sales surged 9.2%.

Net income in the quarter surged 11.5% to $172.2 million or 82 cents per diluted share compared to $154.5 million or 70 cents from the same quarter last year.

Darden Restaurants, Inc (DRI) slipped 1.7% or $1.21 to $69.06 after the full-service restaurant operator said total sales in the first-quarter ending in August jumped 5.7% from a year ago to $1.69 billion.

Same-restaurant sales in the quarter increased 3.4%.

Net income in the quarter tumbled 82.8% to $86.4 million or 67 cents per diluted share compared to $503.2 million or $3.81 from the same quarter last year.

The company lifted adjusted earnings diluted per share for the year to a range between $3.15 and $3.30 compared to the previously estimated range $3.05 to $3.20.

FactSet Research Systems Inc (FDS) fell 65 cents to $165.28 after the financial analytical information provider stated revenues in the fourth-quarter ending in August advanced 9.7% from a year ago to $261.8 million.

Net income in the quarter surged 12.3% to $62.2 million or $1.48 per diluted share compared to $55.4 million or $1.31 from the same quarter last year.

FactSet forecasted revenues for the fiscal first-quarter between $265 million and $269 million and earnings per share in the range of $1.46 and $1.48.

Separately, the company agreed to acquire Portware, LLC for $265 million in cash and the transaction is expected to close before the end of its fiscal first-quarter.

General Mills, Inc (GIS) slid 6 cents to $56.73 after the branded consumer foods maker reported net sales in the first-quarter ending in August fell 1.4% from a year ago to $4.21 billion.

Net income in the quarter surged 23.6% to $426.6 million or 69 cents per diluted share compared to $345.2 million or 55 cents from the same quarter last year.

Red Hat Inc (RHT) slumped 2.5% or $1.85 to $70.84 after the open source software developer said total revenues in the second-quarter ending in August surged 21% from a year ago to $504 million.

Net income in the quarter jumped 8.5% to $51 million or 28 cents per diluted share compared to $47 million or 25 cents from the same quarter last year.

For the third quarter, the company forecasted revenues in the range of $519 million to $523 million and non-GAAP earnings per share of about 47 cents.

Red Hat estimated revenues for the year between $2.03 billion and $2.04 billion and non-GAAP earnings per share in the range of $1.85 to $1.87.

Thor Industries, Inc (THO) declined 6.3% or $3.43 to $51.13 after the recreational vehicles seller stated sales in the fourth-quarter ending in July increased 2% from a year ago to $1.06 billion.

Net income in the quarter rose 6.5% to $68.97 million or $1.31 per diluted share compared to $66.6 million or $1.25 from the same quarter last year.

  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc