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Market Update

Big Lots Bucks Retail Downward Trend, Pure Storage Surges on Forecast


Author: Mukesh Buch
ticker.com
Last Update: 10:40 AM ET August 25 2017

10:40 PM New York Autodesk posted better-than-expected results. Big Lots profit surged 28% and lifted fiscal 2017 outlook. Net 1 UEPS Technologies net declined 54%. Pure Storage surged on improved fiscal revenues forecast. QAD net swung to a loss.

Tollbooth Index advanced 51.64 or 0.4% to 12,217.94.

Earnings Review

Autodesk, Inc (ADSK) jumped 3.9% or $4.36 to $114.97 after the software developer reported revenues in the second-quarter ending in June dropped 9% from a year ago to $501.8 million.

Net loss in the quarter widened to $144 million or 66 cents per diluted share from $98.2 million or 44 cents in the same quarter last year.

Big Lots, Inc (BIG) fell 48 cents to $49.61 after the discount stores operator said net sales in the second-quarter ending on July 29 increased 1.5% from a year ago to $1.2 billion.

Comparable store sales in the quarter advanced 1.8%.

Net income in the quarter surged 28.2% to $29.1 million or 67 cents per diluted share from $22.7 million or 50 cents in the same quarter last year.

The retailer lifted fiscal 2017 diluted earnings per share forecast between $4.15 and $4.25, representing 14% to 17% increase from the same period a year ago and cash flow of $180 to $190 million.

Net 1 UEPS Technologies Inc (UEPS) declined 5.1% or 50 cents to $9.23 after South Africa-focused payment solutions provider said revenues in the fourth-quarter ending in June increased 3% from a year ago to $155.1 million.

Net income in the quarter declined 54% to $11.3 million or 20 cents per diluted share from $24.4 million or 48 cents in the same quarter last year.

Pure Storage Inc (PSTG) surged 18.9% or $2.38 to $14.95 after the data storage platform provider reported total revenues in the second-quarter ending in June soared 37.5% from a year ago to $224.5 million.

Net loss in the quarter widened to $61.7 million or 29 cents per diluted share from $59.6 million or 31 cents in the same quarter last year.

Pure Storage estimated fiscal 2017 revenues between $985 million and $1.025 billion.

QAD Inc (QADA) gained 1.1% or 35 cents to $32.15 after the enterprise software provider stated total revenues in the second-quarter ending in June jumped 8.8% from a year ago to $76 million.

Net in the quarter swung to a loss of $1.2 million or 6 cents per diluted share from profit of $0.97 million or 5 cents in 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