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Market Update

Darden, KB Home, Mattress Firm, Nike Jump


Author: Mukesh Buch
ticker.com
Last Update: 12:31 PM ET March 20 2015

12:20 PM New York – AK Steel plunged on weak outlook. Cato profit surged 139% on 11% increase in revenues. Darden net climbed 22%. KB Home plunged 26%. Mattress Firm net tumbled 24% but revenues surged 92%. Nike profit surged 16% on 7% increase in revenues.

Tollbooth Index jumped 0.7% or 68.90 to 10,599.71.

Earnings Review

AK Steel Holding Corporation (AKS) plunged 7.6% or 32 cents to $3.88 after the flat-rolled carbon producer forecasted to report a net loss for the fiscal 2015 first-quarter between 23 cents and 28 cents per share.

Steel shipments in the quarter declined 14% to 1.73 million tons from previous quarter.

Cato Corporation (CATO) rose 8 cents to $38.18 after the women’s fashion specialty retailer said sales in the fourth-quarter ending ion January soared 11% to $237.8 million from a year ago period.

Same-store sales in the quarter climbed 8%

Net income in the quarter surged 139% to $9.2 million or 33 cents per diluted share compared to $3.8 million or 13 cents from the same quarter last year.

The retailer forecasted earnings per diluted share for the first-quarter in the range of $1.03 to $1, a decrease between 1% and 4% compared to$1.04 in the first-quarter 2014.

Cheetah Mobile Inc (CMCM) declined 4.3% or 80 cents to $17.83 after the China-based diversified mobile applications developer said revenues in the fourth-quarter ending in December surged 118.8% to $94.9 million form a year ago period.

Net income in the quarter soared 23.8% to $5.2 million and diluted earnings per share increased to 4 cents compared to the same quarter last year.

Darden Restaurants, Inc (DRI) jumped 2.1% or $1.39 to $66.32 after the Olive Garden and Yard House restaurants chain operator reported total revenues in the third-quarter ending on February 22 climbed 6.8% to $1.73 billion from a year ago period.

Same-restaurant sales in the quarter jumped 3.6%

Net income in the quarter soared 21.9% to $133.8 million or $1.05 per diluted share compared to $109.7 million or 82 cents from the same quarter last year.

KB Home (KBH) surged 7.9% or $1.13 to $15.21 after the homebuilder said total revenues in the first-quarter ending in February soared 28.7% to $580.1 million from a year ago period.

Net income in the quarter plunged 26.4% to $7.8 million or 8 cents per diluted share compared to $10.6 million or 12 cents from the same quarter last year.

Mattress Firm Holding Corp (MFRM) jumped 3.4% or $2.17 to $66.20 after the specialty retailer stated net sales in the third-quarter ending on January 28 climbed 91.7% to $598.3 million form a year ago period.

Net income in the quarter tumbled 23.5% to $6.62 million or 19 cents per diluted share compared to $8.66 million or 25 cents from the same quarter last year.

Nike Inc (NKE) soared 4.5% or $4.43 to $102.75 after the athletic footwear and apparel maker reported revenues in the third-quarter ending in February jumped 7% to $7.46 billion form a year ago period.

Net income in the quarter surged 16% to $791 million or 89 cents per diluted share compared to $682 million or 75 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