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Market Update

Clarcor, Kroger Rise; Bankrate, Jabil Circuit, Oracle, Rite Aid Fall


Author: Mukesh Buch
ticker.com
Last Update: 11:53 AM ET June 18 2015

11:40 PM New York – Bankrate net climbed 20%. Clarcor net jumped 11%. Jabil Circuit net plunged 62% but revenues soared 15%. Kroger profit rose 2%. Oracle net declined 22% on 5% decrease in revenues. Pier 1 Imports net plummeted 54%. Rite Aid net tumbled 54.6%.

Tollbooth Index climbed 1.1% or 116.92 to 10,879.76.

Earnings Review

Bankrate Inc (RATE) tumbled 18.8% or $2.61 to $11.23 after the financial information provider said revenues in the first-quarter ending in March dropped 3.8% to $141.5 million from a year ago period.

Net income in the quarter climbed 19.5% to $4.9 million or 5 cents per diluted share compared to $4.1 million or 4 cents from the same quarter last year.

The company forecasted revenues for the year in the range of $520 million to $530 million.

Clarcor Inc. (CLC) jumped 3.5% or $2.13 to $63.79 after the filtration products maker said net sales in the second-quarter ending in May increased 3% to $399.8 million from a year ago period.

Net earnings in the quarter jumped 11% to $38.5 million or 76 cents per diluted share compared to $34.6 million or 68 cents from the same quarter last year.

Jabil Circuit, Inc. (JBL) declined 7.2% or $1.75 to $22.58 after the semiconductors maker reported net revenues in the third-quarter ending in May climbed 15% to $4.4 billion from a year ago period.

Net income in the quarter plunged 61.7% to $72.2 million or 37 cents per diluted share compared to $188.3 million or 93 cents from the same quarter last year.

Kroger Co (KR) increased 1.6% or $1.07 to $73.98 after the food and drug stores operator reported total sales in the first-quarter ending on May 23 edged up 0.3% to $33.1 billion from a year ago period.

Net income in the quarter increased 1.9% to $619 million or $1.25 per diluted share compared to $501 million or 98 cents from the same quarter last year.

Oracle Corporation (ORCL) plunged 8.4% or $3.76 to $41.15 after the software developer said total revenues in the fourth-quarter ending in May decreased 5% to $10.7 billion from a year ago period.

Net income in the quarter declined 22.2% to $2.8 billion or 62 cents per diluted share compared to $3.6 billion or 80 cents from the same quarter last year.

Oracle''s total software and cloud revenues in the fourth quarter declined 6% to $8.4 billion and software license updates and product support revenues essentially flat at $4.7 billion. Hardware systems revenues for the quarter fell 4% to $1.4 billion.

Pier 1 Imports, Inc. (PIR) rose 42 cents or 5% to $12.06 after the home décor retailer stated net sales in the second-quarter ending in May rose 3% to $432 million from a year ago period.

Net income in the quarter tumbled 54% to $6.9 million or 8 cents per diluted share compared to $15.1 million or 16 cents from the same quarter last year.

Rite Aid Corporation (RAD) declined 3% or 27 cents to $8.65 after the retail drugstore chain said revenues in the first-quarter ending in May increased 1.5% to $6.6 billion from a year ago period.

Same store sales in the quarter jumped 2.9%.

Net income in the quarter tumbled 54.6% to $18.8 million or 2 cents per diluted share compared to $41.4 million or 4 cents from the same quarter last year.

For fiscal 2016, the company forecasted net income in the range of $150 million and $230 million and diluted earnings per share between 14 cents and 22 cents compared to earlier revenue guidance between $190 million and $275 million and diluted earnings per share in the range of 19 cents to 27 cents.

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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