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Market Update

Chrysler, GM May Sales Soar, Ford Sales Drop


Author: Mukesh Buch
ticker.com
Last Update: 9:15 PM ET June 02 2015

12:00 PM New York Conn''s net tumbled 45%. Cracker Barrel profit surged 23%. Dollar General net soared 14%. Delta Air Lines May traffic jumped 3%. Ford May sales slid 1% but Fiat Chrysler sales climbed 4% while GM sales rose 3%. Medtronic net swung to a loss. PVH net surged more than two-fold.

Tollbooth Index jumped 0.5% or 52.77 to 10,803.64.

Earnings Review

Conn''s, Inc (CONN) soared 9.7% or $3.46 to $38.99 after the home appliances retailer reported total revenues in the first-quarter ending in April climbed 8.8% to $365.1 million from a year ago period.

Net income in the quarter tumbled 44.9% to $15.7 million or 43 cents per diluted share compared to $28.5 million or 77 cents from the same quarter last year.

Cracker Barrel Old Country Store, Inc (CBRL) climbed 4.1% or $5.76 to $145.55 after the bar and restaurants operator said total revenue in the third-quarter ending on May 1jumped 6.3% to $683.7 million from a year ago period.

Comparable-store restaurant sales soared 5.2% and comparable-store retail sales advanced 4.5%.

Net income in the quarter surged 23% to $35.3 million or $1.47 per diluted share compared to $28.7 million or $1.20 from the same quarter last year.

For the fourth-quarter, the company forecasted earnings per share in the range of $1.75 to $1.85.

For the year, Cracker Barrel forecasted higher earnings per share between $6.60 and $6.70 from the earlier estimated range of $6.40 to $6.50 and total revenues between $2.8 billion and $2.85 billion.

Comparable store restaurant sales estimate was revised to a range between 4.5% and 5%, and comparable store retail sales between 3.5% and 4%.

Dollar General Corp (DG) jumped 3.6% or $2.59 to $75.40 after the discount retailer reported net sales in the first-quarter ending on May 1 climbed 8.8% to $4.92 billion from a year ago period.

Same-store sales in the quarter improved 3.7%.

Net income in the quarter surged 13.9% to $253.2 million or 84 cents per diluted share compared to $222.4 million or 72 cents from the same quarter last year.

The retailer said consumables sales in the quarter soared 9% to $3.75 billion and seasonal sales jumped 8.3% to $586 million.

Home products sales climbed 6.9% to $303 million and apparel sales surged 9.5% to $275 million from a year ago period.

Dollar General forecasted earnings per share for the year in the range of $3.85 to $3.95 per share and estimated total sales between 8% and 9% and same-store sales growth in the range of 3% to 3.5%.

In this year, the retailer intends to open about 730 new stores and relocate or renovate 875 stores with estimated capital expenditures of about $550 million.

Delta Air Lines, Inc (DAL) dropped 2.6% or $1.16 to $43.19 after the air transportation company reported total system traffic in May 2015 jumped 2.7% to 18.22 billion from 17.74 billion in a year ago period.

The airline company said total system load factor slipped 1.1 percentage points to 85.4% from 86.5% a year ago month.

Ford Motor Company (F) slid 3 cents to $15.33 after the auto maker reported total U.S. sales in May dropped 1.3% to 250,813 units from a year ago.

Retail sales in the month decreased 2% to 171,535 units. Fleet sales were flat at 79,278 units from a year ago month.

Fiat Chrysler Automobiles NV (FCAU) fell 8 cents to $16.21 after the auto maker said U.S. sales in May jumped 4% to 202,227 vehicles, the group''s best May sales since 2005.

Total car sales surged 27% to 50,762 vehicles while total truck sales slipped 2% to 151,465 vehicles from the year ago month.

Chrysler brand sales surged 32% to 29,802 vehicles while Jeep deliveries soared 13% to 79,652 vehicles and Ram pickup sales jumped 7.6% to 39,952 vehicles.

General Motors Company (GM) rose 14 cents to $36.32 after the auto maker reported sales in May jumped 3% to 293,097 vehicles the best May sales since 2007 and its best month since August 2008.

Chevrolet sales in the month increased 1.4% to 207,970 units and commercial deliveries jumped 5%. GMC total vehicles sales soared 12.5% to 50,657 vehicles fro a year ago month.

GM''s average transaction price was up 1.6% to $34,000 and jumped about $1,300 calendar year-to-date.

Medtronic Plc (MDT) fell 2 cents to $76.68 after the Ireland-based surgical equipment maker said net sales in the fourth-quarter ending on April 24 surged 59.7% to $7.30 billion from a year ago period.

Net in the quarter swung to a loss of $1 million or break even per diluted share compared to profit of $448 million or 44 cents from the same quarter last year.

PVH Corp (PVH) jumped 8.1% or $8.49 to $113.17 after the apparel company said total revenues in the first-quarter ending on May 3 declined 4.1% to $1.88 billion from a year ago period.

Net income in the quarter surged more than two-fold to $114.1 million or $1.37 per diluted share compared to $35.3 million or 42 cents 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