S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

Cisco Profit Soars; J C Penney, Jack in the Box, Kohl's Plunge


Author: Mukesh Buch
ticker.com
Last Update: 11:54 AM ET May 14 2015

12:00 PM New York – Cisco net soared 12% on 5% increase in revenues. Children’s Place net jumped 15%. J C Penney net loss narrowed. Jack in the Box profit soared 46%. Kohl''s profit jumped 2%. Owens-Illinois agreed to acquire Mexico-based Vitro S.A.B. for $2.15 billion. Teekay net loss narrowed.

Tollbooth Index increased 0.6% or 67.24 to 10,717.38.

Earnings Review

Cisco Systems, Inc (CSCO) rose 8 cents to $29.44 after the networking products and services provider reported total revenues in the third-quarter ending in March jumped 5.2% to $12.17 billion from a year ago period.

Net income in the quarter soared 11.9% to $2.44 billion or 47 cents per diluted share compared to $2.18 million or 42 cents from the same quarter last year.

For the fourth-quarter, Cisco forecasted revenue to increase between 3% and 5% and adjusted earnings per share in the range of 55 cents to 57 cents.

Children’s Place Inc (PLCE) slipped 57 cents to $67.26 after the specialty apparel retailer stated sales in the first-quarter ending on May 2 decreased 1.3% to $404.9 million from a year ago period.

Comparable store sales in the quarter rose 0.7%.

Net loss in the quarter jumped 14.7% to $15.6 million or 73 cents per diluted share compared to $13.6 million or 61 cents from the same quarter last year.

For the second quarter, the retailer forecasted adjusted net loss per share between 36 cents and 0.32 cents.

For the year, the company estimated adjusted net income per diluted share will be in the range of $3.30 to $3.45.

J C Penney Company Inc (JCP) plunged 5.7% or 51 cents to $8.20 after the department stores operator said sales in the first-quarter ending on May 2 increased 2% to $2.86 billion from a year ago period.

Same store sales in the quarter climbed 3.4%.

Net loss in the quarter narrowed to $167 million or 55 cents per diluted share compared to $352 million or $1.15 from the same quarter last year.

The retailer lifted its same-store sales forecast for the year to increase between 4% and 5% compared to earlier guidance of 3% to 5%.

Jack in the Box Inc (JACK) slumped 3.6% or $3.28 to $88.54 after the quick service restaurant operator stated total revenues in the first-quarter ending on April 12 advanced 5% to $358.1 million from a year ago period.

Same store sales in the quarter climbed 7.4%, Franchise sales jumped 9.4% and system-wide sales surged 8.9%.

Net income in the quarter soared 45.6% to $23 million or 60 cents per diluted share compared to $15.8 million or 37 cents from the same quarter last year.

Kohl''s Corporation (KSS) tumbled 11.4% or $8.47 to $66.05 after the merchandise retailer reported sales in the first-quarter ending on May 2 rose 1.2% to $4.12 billion from a year ago period.

Comparable store sales in the quarter increased 1.4%.

Net income in the quarter jumped 1.6% to $127 million or 63 cents per diluted share compared to $125 million or 60 cents from the same quarter last year.

Owens-Illinois Inc (OI) fell 30 cents to $25.68 after the glass manufacturer agreed to acquire food and beverage glass container business of Mexico-based Vitro S.A.B. de C.V. for about $2.15 billion in cash.

The transaction is expected to close within a year.

Teekay Corporation (TK) rose 6 cents to $48.42 after the Bermuda-based oil and gas marine transportation services provider stated revenues in the first-quarter ending in March climbed 7.8% to $545.9 million from a year ago period.

Net loss in the quarter narrowed to $9.8 million or 13 cents per diluted share compared to $13.7 million or 19 cents from the same quarter last year.

  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc