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Market Update

Biomed, Cato, Zumiez Jump; Buckle, Cardiovascular, Domino's Decline


Author: Mukesh Buch
ticker.com
Last Update: 2:10 PM ET October 08 2015

2:00 PM New York Biomed agreed to be acquired by Blackstone Real Estate for $8 billion. Buckle comparable sales in September declined 6.7%. Cato comparable sales increased 2%. Cardiovascular Systems estimated wider net loss. Dell is in talk to buy EMC. Domino''s net soared 8%.

Tollbooth Index slipped 66.12 or 0.6% to 10,397.72.

Earnings Review

Biomed Realty Trust Inc (BMR) surged 8.7% or $1.88 to $23.46 after the real estate developer agreed to be acquired by Blackstone Real Estate Partners VIII for $23.75 per share in cash or $8 billion, a premium of 24% to the closing price of September 22 or 10% premium to closing price of October 7.

The transaction is expected to close in the first-quarter of 2016.

Buckle, Inc (BKE) plunged 6.2% or $2.39 to $35.89 after the casual apparel, footwear and accessories retailer said comparable store sales for the five-week period ending on October 3 declined 6.7%.

Net sales in September slumped 5.6% to $97.4 million from $103.1 million a year ago month.

Cato Corporation (CATO) soared 5.1% or $1.80 to $37.26 after the women''s fashion retailer reported same-store sales for the five-weeks ending on October 4 increased 2%.

Total sales in September jumped 4% to $83.2 million from the same month of a year ago.

Cato lifted earnings per share forecast for the third-quarter in the range of 18 cents to 22 cents from earlier estimated range of 12 cents to 16 cents per share.

Cardiovascular Systems Inc (CSII) tumbled 19.7% or $3.28 to $13.35 after the medical technology developer forecasted revenues in the first-quarter ending in September soared 11% from a year ago to $43.9 million.

The company estimated net loss in the quarter between $13.1 million and $13.9 million and diluted loss per share in the range of 41 cents to 43 cents from net loss of $8.2 million and a loss of 26 cents in the same quarter last year.

Dell Inc, the computer maker is in talks to acquire EMC Corp without disclosing financial terms.

EMC Corporation, the data storage company stock jumped 4.9% to $27.24.

Domino''s Pizza, Inc (DPZ) declined 4.4% or $4.76 to $103.27 after the pizza retail chain reported revenues in the third-quarter ending in September jumped 8.5% from a year ago to $484.7 million.

Domestic same store sales in the quarter surged 10.5% and international division same store sales advanced 7.7%.

Net income in the quarter soared 7.8% to $37.8 million or 67 cents per diluted share compared to $35.6 million or 63 cents from the same quarter last year.

Gannett Co Inc (GCI) increased 2.1% or 32 cents to $15.26 after the media and marketing company agreed to acquire rival Journal Media Group for $12 per share or about $280 million in cash, representing a premium of 44.6% to the closing price on October 7.

The transaction is expected to close in the first quarter of 2016.

Journal Media Group Inc stock surged 43.3% to $11.89.

International Speedway Corp (ISCA) soared 5.2% or $1.74 to $35.38 after the professional sports venues organizer said revenues in the third-quarter ending in August dropped 3.5% from a year ago to $125.5 million.

Net in the quarter swung to a loss of $3.9 million or 8 cents per diluted share compared to profit of $0.2 million or break even from the same quarter last year.

The company lifted revenues forecast for the year between $635 million to $640 million and diluted earnings per share in the range of $1.35 to $1.40.

L Brands, Inc (LB) gained 1.1% or $1.02 to $95.72 after the specialty retail said comparable store sales for the five-weeks ending on October 4 soared 9%.

Net sales in September jumped 8% to $919.9 million from $853.5 million a year ago month.

Stein Mart, Inc (SMRT) slipped 1.5% or 13 cents to $8.72 after the apparel and accessories retailer reported comparable store sales in September for the five-weeks ending on October 4 dropped 2.8%.

Total monthly sales decreased 1.8% to $117.3 million from $119.4 million in the same month a year ago.

Zumiez Inc (ZUMZ) soared 8.9% or $1.52 to $18.48 after the multi-channel specialty retailer said comparable store sales for the five-weeks ending on October 4 fell 1.8%.

Net sales in September rose 1.5% to $67.3 million from $66.3 million a year ago month.

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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