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Market Update

Calavo Growers, Lands' End, Palo Alto Climb; Krispy Kreme Falls


Author: Mukesh Buch
ticker.com
Last Update: 12:41 PM ET September 10 2014

12:40 PM New York Calavo Growers net surged after revenue climbed 12%. DHT agreed to acquire Singapore-based Samco for $317 million.Krispy Kreme net jumped 23%. Lands'' End profit jumped 5% after comparable sales rose 3%. Palo Alto net loss widened. Vera Bradley Net tumbled.

Tollbooth Index slid 0.1% or 13.67 to 9,470.25.

Earnings Review

Calavo Growers, Inc (CVGW) jumped 4.4% or $1.75 to $41.41 after the avocado grower said revenue in the third-quarter ending in July soared 12.2% to $218.7 million from a year ago period.

Net income in the quarter surged 150% to $16 million or $1.02 a diluted share compared to $6.4 million or 43 cents from a same quarter last year.

DHT Holdings Inc (DHT) soared 9.9% or 63 cents to $7.02 after the oil tanker transportation service provider agreed to acquire Singapore-basedSamco Shipholding, a private company for $317 million in cash.

Krispy Kreme Doughnuts (KKD) declined 5.7% or $1.01 to $16.60 after the doughnut retailer said revenue in the second-quarter ending on August 3 climbed 6.9% to $120.5 million from a year ago period.

Domestic same store sales in the quarter increased 2.8% while international franchise same store sales dropped 2.4%.

Net income in the quarter jumped 23.4% to $5.8 million or 8 cents a diluted share compared to $4.7 million or 7 cents from a same quarter last year.

Lands'' End, Inc (LE) surged 14.6% or $4.88 to $38.22 after the apparel retailer stated revenue in the second-quarter ending on August 1 jumped 5.4% to $347.2 million from a year ago period. Same store sales in the quarter increased 2.8%.

Net income in the quarter increased 4.9% to $11.8 million or 37 cents a diluted share compared to $11.3 million or 35 cents from a same quarter last year.

Palo Alto Networks, Inc (PANW) climbed 8% or $7.15 to $96.41 after the network security service provider reported revenue in the fourth-quarter ending in July jumped 59% to $178.2 million from a year ago period.

Net loss in the quarter widened to $32.1 million or 41 cents a diluted share compared to $15.8 million or 22 cents from a same quarter last year.

For the fiscal first quarter, the company forecasted total revenue to grow in the range of $178 million to $182 million, increase between 39% and 42% from a year ago.

Vera Bradley, Inc (VRA) dropped 2.9% or 68 cents to $22.40 after the women accessories retailer said net revenue in the second-quarter ending on August 2 dropped 4.2% to $120.1 million from a year ago period.

Net income in the quarter tumbled 49.3% to $7.6 million or 19 cents a diluted share compared to $15 million or 37 cents from a same quarter last year.

The retailer lowered its net revenues guidance for the third-quarter in the range of $123 million to $128 million compared to $128.9 million a year ago period and gross margin between 52% and 53% compared to 55.2% in the year ago quarter.

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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