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Market Update

Bob Evans, Forestar, Ross Stores, Tribune Jump; FairPoint Drops


Author: Mukesh Buch
ticker.com
Last Update: 6:43 AM ET March 02 2016

12:00 PM New York Abercrombie & Fitch profit jumped. Bob Evans net surged but sales fell. Forestar net loss narrowed after revenues surged. FairPoint and Milacron net swung to profit but revenues dropped. Ross Stores net soared. Tribune Publishing net swung to a loss. TiVo net tumbled.

Tollbooth Index slipped 67.88 or 0.6% to 10,399.03.

Earnings Review

Abercrombie & Fitch Co (ANF) fell 31 cents to $29.03 after the apparel and accessories retailer reported net sales in the fourth-quarter ending in January rose 2% from a year ago to $1.11 billion.

Comparable store sales in the quarter increased 1%.

Net income in the quarter jumped 5.2% to $57.7 million or 85 cents per diluted share compared to $44.4 million or 63 cents per share from the same quarter last year.

Bob Evans Farms Inc (BOBE) jumped 7.3% or $2.99 to $46.92 after the full-service restaurant operator stated net sales in the third-quarter ending on January 22 fell 3% from a year ago to $346.5 million.

Net income in the quarter surged 118.6% to $12.9 million or 62 cents per diluted share compared to $5.9 million or 25 cents per share from the same quarter last year.

Forestar Group Inc (FOR) soared 15% or $1.51 to $11.58 after the real estate developer said total revenues in the fourth-quarter ending in December jumped 43% from a year ago to $114 million.

Net loss in the quarter narrowed to $6.2 million or 18 cents per diluted share compared to $11.8 million or 34 cents per share from the same quarter last year.

FairPoint Communications Inc (FRP) declined 5.8% or 90 cents to $14.54 after the communication services provider revenues in the fourth-quarter ending in December dropped 3.4% from a year ago to $209.8 million.

Net in the quarter swung to profit $42.3 million or $1.56 per diluted share compared to a loss of $43.6 million or $1.65 per share from the same quarter last year.

Milacron Holdings Corp (MCRN) jumped 3.6% or 49 cents to $14.22 after the blow and injection molding machines maker stated sales in the fourth-quarter ending in December fell 4.4% from a year ago to $306.3 million.

Net in the quarter swung to profit $15.5 million or 22 cents per diluted share compared to a loss of $0.6 million or 1 cent per share from the same quarter last year.

Ross Stores, Inc (ROST) advanced 3.8% or $2.17 to $58.40 after the off-price retailer reported sales in the fourth-quarter ending in January soared 7% from a year ago to $3.25 billion.

Comparable store sales in the quarter jumped 4%.

Net income in the quarter increased 6.3% to $264.2 million or 66 cents per diluted share compared to $248.5 million or 60 cents per share from the same quarter last year.

Tribune Publishing Co (TPUB) surged 12% or $1.02 to $9.52 after the media and marketing company said revenues in the fourth-quarter ending on December 27 grew 1% from a year ago to $461.8 million.

Net in the quarter swung to a loss of $0.77 million or break even per diluted share compared to profit of $15.5 million or 60 cents per share from the same quarter last year.

TiVo Inc (TIVO) slumped 2.8% or 24 cents to $8.31 after the television software services provider said revenues in the fourth-quarter ending in January advanced 7.9% from a year ago to $123.1 million.

Net income in the quarter tumbled 97.2% to $0.2 million or break even per diluted share compared to $7.1 million or 7 cents per share from 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