2:00 PM New York – At Home Group net swung to profit after net sales surged 21%. Cracker Barrel profit soared 8% on 4% increase in revenues. Monsanto agreed to be acquired by the Germany-based Bayer for $128 per share or $66 billion in cash.
Tollbooth Index increased 64.20 or 0.6% to 10,917.94.
At Home Group Inc
, the privately held home decor superstores operator said net sales in the second-quarter ending in July surged 20.8% from a year ago to $188.4 million.
Comparable store sales in the quarter increase 0.9%.
Net in the quarter swung to profit $6.3 million or 12 cents per diluted share compared to the net loss of $46.1 million or 91 cents per share from the same quarter last year.
The home decor group forecasted net sales in the fiscal 2017 in the range of $738 million to $750 million and comparable store sales to increase between 1.5% and 2%
The group estimated net income in the year between $24 million and $26 million and diluted earnings per share in the range of 42 cents to 45 cents.
Cracker Barrel Old Country Store, Inc
) declined 3.9% or $5.90 to $144.63 after the restaurant and bar operator said total revenues in the fourth-quarter ending on July 29 jumped 3.7% from a year ago to $745.6 million.
Comparable store restaurant sales in the quarter advanced 3.2%.
Net income in the quarter soared 8% to $51 million or $2.12 per diluted share compared to the $47.4 million or $1.97 per share from the same quarter last year.
In the fiscal first-quarter, Cracker Barrel estimated diluted earnings per share in the range of $1.75 to $1.85.
The restaurant operator forecasted total revenue in fiscal 2017 between $2.95 billion and $3 billion and diluted earnings per share in the range of $7.95 to $8.10.
) gained 71 cents to $106.80 after the agricultural products provider agreed to be acquired by the Germany-based drugs and crop producer Bayer AG for $128 per share or $66 billion in cash.
Bayer first offered $122 per share in May, and the offer represents 44% premium of closing price of May 9 the day before Bayer’s first written proposal to Monsanto.
Bayer agreed to $2 billion of reverse antitrust break fee and reaffirmed its confidence in obtaining the necessary regulatory approvals.
The transaction is expected to close by the end of 2017.