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Market Update

Costco, Walgreen July Comparable Sales Soar


Author: Mukesh Buch
ticker.com
Last Update: 12:31 PM ET August 07 2014

12:15 PM New York AES net plunged 20%. Costco July sales soared 9% and comparable sales jumped 5%. Duke Energy net surged 80%.IntercontinentalExchange net climbed 47%. Sempra Energy net climbed 10%. Walgreen July comparable sales jumped 5.2%.

Stocks in New York trading showed little vigor after two weeks of weakness. Positive earnings from several corporations and a drop in jobless claims boosted investor sentiment.

Tollbooth Index fell 0.4% or 32.24 to 9,180.68.

S&P 500 index declined 1.35 to 1,918.88 and the Nasdaq Composite Index increased 3.47 to 4,358.55.

The S&P 500 index declined 3.2% since reaching a near-term high on July 24 and the reference index declined 2.7% in the last week.

The weekly drop in the index was the largest since June 2012.

Earnings Review

The AES Corporation (AES) slid 4 cents to $14.32 after the electricity generator and utility company reported net revenues in the second-quarter ending in June climbed 9% to $4.31 billion from a year ago period.

Net income in the quarter plunged 20% to $133 million or 18 cents a diluted share compared to $167 million or 22 cents in the quarter last year.

Costco Wholesale Corporation (COST) slipped 1.1% or $1.32 to $118.27 after the discount stores operator reported net sales in July month ending on August 3 soared 9% to $8.55 billion from $7.87 a year ago month.

Comparable store sales in the month for the U.S. and the company jumped 5% to each and international comparable store sales soared 6%.

Duke Energy Corporation (DUK) gained 37 cents to $70.21 after the energy company said total revenues in the second-quarter ending in June increased 1.2% to $5.95 billion from a year ago period.

Net income in the quarter surged 80% to $609 million or 86 cents a diluted share compared to $339 million or 48 cents from a same quarter last year.

IntercontinentalExchange Inc (ICE) declined 2.8% or $5.23 to $186.99 after the trading facility provider said total revenue in the second-quarter ending in June soared 171.5% to $1.01 billion from a year ago period.

Net income in the quarter climbed 46.7% to $226 million or $1.95 a diluted share compared to $154 million or $2.09 from a same quarter last year.

The company added revenues from transaction and clearing fees more than doubled to $721 million and market data fees climbed 140% to $96 million from $40 million.

Mylan Inc (MYL) slipped 1.3% or 62 cents to $47.30 after the pharmaceutical company stated total revenue in the second-quarter ending in June climbed 8% to $1.84 billion from a year ago period.

Net income in the quarter plunged 29.5% to $125.2 million or 32 cents a diluted share compared to $177.7 million or 46 cents from a same quarter last year.

Sempra Energy (SRE) gained 1.2% or $1.19 to $98.44 after the gas and electric utility provider reported total revenue in the second-quarter ending in June were nearly flat at $2.68 billion from a year ago period.

Net income in the quarter climbed 9.8% to $269 million or $1.08 a diluted share compared to $245 million or 98 cents from a same quarter last year.

Walgreen Company (WAG) rose 28 cents to $59.49 after the drugstore chain reported July sales jumped 6.1% to of $6.4 billion. Total front-end sales increased 1.4% and comparable store front-end sales rose 1.1%. Comparable store sales in the month soared 5.2%.

Customer traffic in the month at comparable stores dropped 2.6% while basket size climbed 3.7%. Prescriptions filled at comparable stores jumped 3.7% and comparable store pharmacy sales surged 7.6%.

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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