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Market Update

Cisco, Soars; Acxiom, CA, Kohl's, Wal-Mart Fall


Author: Mukesh Buch
ticker.com
Last Update: 1:51 PM ET May 15 2014

12:40 PM New York Advance Auto Parts net dropped 11% after sales plunged 47%. Cisco climbed despite sales and net plunged. CA profit declined 15%. Flowers Foods slipped 6%. Kohl's net plummeted 15% after sales dropped. Wal-Mart sales rose but net declined 5%.

Advance Auto Parts, Inc (AAP) slipped 1.6% or $1.93 to $121.21 after the automobile parts and accessories retailers said sales in the first-quarter ending on April 19 tumbled 47.3% to $2.97 billion. Comparable store sales in the quarter increased 2.4%.

Net income in the quarter dropped 10.7% to $147.7 million or $2.01 a diluted share compared to $165.4 million or $2.25.

Acxiom Corporation (ACXM) plummeted 22.3% or $6.08 to $21.06 after the information technology services provider stated total revenue in the fourth-quarter ending in March flat at $277 million.

Net in the quarter swung to a loss $29.2 million or 38 cents a diluted share compared to profit of $13.2 million or 18 cents.

Separately, Acxiom agreed to acquire privately held LiveRamp, a leading service for on boarding customer data into digital marketing applications for about $310 million in cash.

Cisco Systems, Inc (CSCO) climbed 7.3% or $1.67 to $24.48 after the networking services provider reported revenue in the third-quarter ending on April 26 dropped 5.5% to $11.5 billion.

Net income in the quarter plunged 12% to $2.18 billion or 42 cents a diluted share compared to $2.48 billion or 46 cents.

CA, Inc. (CA) slumped 3.5% or $1.06 to $29.01 after the server and database software said revenue in the fourth-quarter ending in March fell 3% to $1.11 billion.

Net income in the quarter plunged 55.8% to $107 million or 24 cents a diluted share compared to $242 million or 53 cents.

Flowers Foods, Inc (FLO) fell 4 cents to $20.74 after the bakery products maker stated revenue in the third-quarter ending on April 19 increased 2.6% to $1.16 billion.

Net income in the quarter slipped 5.9% to $61.1 million or 29 cents a diluted share compared to $64.9 million or 31 cents.

Kohl's Corporation (KSS) dropped 3% or $1.64 to $52.39 after the apparel, footwear and accessory retailer reported sales in the first-quarter ending on May 3 slumped 3% to $4.07 billion. Comparable store sales in the quarter slipped 3.4%.

Net income in the quarter declined 14.9% to $125 million or 60 cents a diluted share compared to $147 million or 66 cents.

The retailer expected diluted earnings per share for the year in the range of $4.05 to $4.45.

Wal-Mart Stores, Inc (WMT) declined 2.3% or $1.83 to $76.93 after the specialty retailer reported net sales in the first-quarter ending in April edged up 0.8% to $114.2 billion. Comparable store sales in the quarter slid 0.2%.

Net income in the quarter dropped 5% to $3.58 billion or $1.11 a diluted share compared to $3.77 billion or $1.14.

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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