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Market Update

Bed Bath & Beyond, Paychex, Vail Resorts Jump; KB Home Drop


Author: Mukesh Buch
ticker.com
Last Update: 12:14 PM ET September 24 2014

12:10 PM New York Accenture net jumped 5%. AAR net tumbled 20% and revenue declined 9%. Bed Bath & Beyond profit plunged 10% but sales increased 4%. KB Home net edged up on 7% increase of revenue. Paychex net jumped 5%. Vail Resorts net loss widened but sales climbed.

Tollbooth Index gained 0.5% or 47.20 to 9,357.91.

Earnings Review

Accenture Plc (ACN) slipped 1.5% or $1.17 to $78.43 after the consulting and outsourcing service provider reported revenue in the fourth-quarter ending in August climbed 10% to $7.8 billion from a year ago period.

Net income in the quarter jumped 4.5% to $760.2 million or $1.08 a diluted share compared to $727.3 million or $1.01 from a same quarter last year.

Accenture expected net revenues for the first-quarter to be in the range of $7.55 billion to $7.80 billion.

AAR Corp (AAR) plunged 9.6% or $2.69 to $25.31 after the aircraft equipment provider said revenue in the first-quarter ending in August dropped 8.8% to $469.2 million from a year ago period.

Net income in the quarter tumbled 19.5% to $14.4 million or 36 cents a diluted share compared to $17.9 million or 45 cents from a same quarter last year.

Bed Bath & Beyond Inc (BBBY) surged 7.5% or $4.67 to $67.35 after the home furnishings retailer stated net sales in the second-quarter ending in August increased 4.3% to $2.95 billion from a year ago period. Comparable sales in the quarter jumped 3.4%.

Net income in the quarter plunged 10.2% to $223.9 million or $1.17 a diluted share compared to $249.3 million or $1.16 from a same quarter last year.

KB Home (KBH) declined 6% or 99 cents to $15.98 after the home builder said total revenue in the third-quarter ending in August jumped 7% to $589.2 million from a year ago period.

Net income in the quarter increased 1.3% to $28.4 million or 28 cents a diluted share compared to $27.3 million or 30 cents from a same quarter last year.

In the quarter, the company delivered 1,793 homes slightly below from a year ago period and average selling price climbed 9% to $327,000.

The company said net order value soared 19% to $629.2 million and backlog surged 37% to $1.10 billion.

Paychex, Inc (PAYX) climbed 2.5% or $1.06 to $43.47 after the outsource service provider reported total revenue in the fourth-quarter ending in August surged 9% to $666.8 million from a year ago period.

Net income in the quarter jumped 5% to $171.3 million or 47 cents a diluted share compared to $162.8 million or 44 cents from a same quarter last year.

Vail Resorts, Inc (MTN) jumped 2.1% or $1.82 to $89 after the resort operator stated total net revenue in the fourth-quarter ending in July soared 20.7% to $135.5 million from a year ago period.

Net loss in the quarter widened to $75.4 million or $2.08 a diluted share compared to $59.9 million or $1.67 from a 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