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Market Update

Box, Krispy Kreme, Men's Wearhouse Climb


Author: Mukesh Buch
ticker.com
Last Update: 1:14 PM ET June 11 2015

1:05 PM New York Blackhawk Network agreed to acquire Achievers Corp for an undisclosed amount. Box net loss widened. Delta Air Lines plans to buy 40 Boeing 737 planes. Destination Maternity net plunged 68%. Krispy Kreme profit surged 11%. Men''s Wearhouse net tumbled 37%.

Tollbooth Index gained 0.2% or 24.83 to 10,795.86.

Earnings Review

Blackhawk Network Holdings Inc (HAWK) increased 7 cents to $$36.78 after the prepaid payment services provider agreed to acquire Achievers Corporation for an undisclosed amount.

The transaction is expected to close by the end of this month.

Box Inc (BOX) soared 6.2% or $1.11 to $18.90 and traded as high as $20.40 after the cloud-based content platform provider reported revenues in the first-quarter ending in April climbed 44.8% to $65.6 million from a year ago period.

Net loss in the quarter widened to $47.3 million or 40 cents per diluted share compared to $38.6 million or $2.81 from the same quarter last year.

Delta Air Lines, Inc. (DAL) rose 4 cents to $41.10 after the passengers and cargo airline group plans to buy 40 737-900ER planes from Boeing Company valued at list prices at about $4 billion. The pilot union leaders approved the agreement.

Destination Maternity Corp (DEST) surged 13.7% or $1.47 to $12.18 after the maternity apparel retailer said net sales in the first-quarter ending on May 2 fell 1.3% to $141.6 million from a year ago period.

Comparable store sales in the quarter decreased 1.1%.

Net income in the quarter plunged 67.5% to $2.5 million or 19 cents per diluted share compared to $7.7 million or 57 cents from the same quarter last year.

Digital Turbine Inc (APPS) declined 7.4% or 30 cents to $3.73 after the mobile application developer said revenues in the fourth-quarter ending in March soared 70% to $10.2 million from a year ago period.

Net loss in the quarter widened to $9.3 million or 22 cents per diluted share compared to $2.6 million or 8 cents from the same quarter last year.

For the first-quarter, the company estimated revenues between $17 million and $19 million.

The company forecasted revenues for the year in the range of $110 million to $130 million.

Krispy Kreme Doughnuts (KKD) surged 11.9% or $2.08 to $19.48 after the beverages and treats and packaged sweets retailer said revenues in the first-quarter ending on May 3 jumped 9% to $132.5 million form a year ago period.

System wide domestic same store sales in the quarter climbed 5.2%.

Net income in the quarter surged 10.5% to $10.7 million or 16 cents per diluted share compared to $9.7 million or 14 cents from the same quarter last year.

Men''s Wearhouse Inc (MW) climbed 5.2% or $3.03 to $61.56 after the men''s specialty retailer reported net sales in the first-quarter ending on May 2 jumped 40.4% to $885.1 million from a year ago period.

Comparable store sales in the quarter climbed 6.8% while Jos. A. Bank comparable sales decreased 1.5%. Moores, Canadian retail brand comparable sales increase of 0.8% and K&G comparable sales soared 7.3%.

Net income in the quarter tumbled 37% to $10.4 million or 21 cents per diluted share compared to $16.5 million or 34 cents from the same quarter last year.

The retailer said net sales in retail segment climbed 43.7% to $250.6 million and corporate apparel sales advanced 7% or $4 million.

For fiscal 2015, the company forecasted earnings per share in the range of $2.70 to $2.90 compared to prior year earnings per share of $2.37.

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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