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Market Update

Coty Net Swings to Profit, News Corp Net Swings to Loss


Author: Mukesh Buch
ticker.com
Last Update: 1:01 PM ET August 13 2015

1:00 PM New York – Advance Auto Parts net climbed 8%. Coty net swung to profit. Cisco net and revenues jumped. Dillard''s sales and profit rose 2%. G&K Services net declined 10%. Kohl''s net plunged 44%. News Corp profit swung to a loss and plans to education business.

Tollbooth Index gained 55.69 or 0.5% to 10,857.80.

Earnings Review

Advance Auto Parts, Inc (AAP) soared 7.4% or $12.83 to $184.83 after the auto parts maker reported sales in the second-quarter ending on July 18 increased 0.9% to $2.37 billion form a year ago period.

Comparable store sales in the quarter rose 1%

Net income in the quarter climbed 7.5% to $150 million or $2.03 per diluted share compared to $139.5 million or $1.89 from the same quarter last year.

Coty Inc (COTY) advanced 5.9% or $1.68 to $30.40 after the beauty products maker said net revenues in the second-quarter ending in June rose 2% to $1.02 billion form a year ago period.

Net in the quarter swung to profit $21 million or 5 cents per diluted share compared to net loss of $20.1 million or 5 from the same quarter last year.

Cisco Systems, Inc (CSCO) increased 3.2% or 90 cents to $28.82 after the internet networking products maker reported revenues in the fourth-quarter ending on July 25 jumped 3.9% to $12.84 billion form a year ago period.

Net income in the quarter climbed 3.1% to $2.32 billion or 45 cents per diluted share compared to $2.25 billion or 43 cents from the same quarter last year.

Cisco said product revenue in the quarter jumped 4% to $9.9 billion and service revenue increased 3.8% to $2.9 billion. Revenues in America climbed 7%.

The company forecasts first-quarter revenues to grow in the range of 2% to 4% and earnings per share between 55 cents and 57 cents.

Dillard''s, Inc (DDS) jumped 2.9% or $2.71 to $97.51 after the department stores operator reported sales in the second-quarter ending on August 1 jumped 2% to $1.51 billion from a year ago period.

Net income in the quarter rose 2% to $29.9 million or 75 cents per diluted share compared to $34.5 million or 80 cents from the same quarter last year.

G&K Services Inc (GK) soared 4.2% or $2.84 to $70.15 after the uniform and facility services provider stated revenues in the fourth-quarter ending on June 27 rose 3% to $236.6 million form a year ago period.

Net income in the quarter declined 10.2% to $14.1 million or 71 cents per diluted share compared to $15.7 million or 78 cents from the same quarter last year.

Kohl''s Corporation (KSS) tumbled 10% or $6.14 to $55.36 after the specialty department store operator reported sales in the second-quarter ending on August 1 edged up 0.6% to $4.27 billion from a year ago period.

Comparable store sales in the quarter rose 0.1%

Net income in the quarter plunged 44% to $130 million or 66 cents per diluted share compared to $232 million or $1.13 from the same quarter last year.

News Corp (NWSA) soared 5.9% or 83 cents to $14.95 after the diversified media and entertainment conglomerate reported revenues in the fourth-quarter ending in June dropped 2.3% to $2.14 billion form a year ago period.

Net in the quarter swung to a loss of $379 million or 65 cents per diluted share compared to profit of $12 million or 2 cents from the same quarter last year.

The company is in “advance talk” with a potential buyer for the education business and plans to wind down the production of tablets for schoolchildren and write-down $371 million in the education division.

Store Capital Corp (STOR) gained 2% or 43 cents to $21.78 after the real estate developer stated total revenues in the second-quarter ending in June climbed 53% to $68.9 million form a year ago period.

Net income in the quarter surged 88.5% to $19.6 million or 17 cents per diluted share compared to $10.4 million or 15 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