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Market Update

Dicks Sporting, Home Depot Sales Rise, TJX Lifts Outlook


Author: Mukesh Buch
ticker.com
Last Update: 12:46 PM ET November 18 2014

12:05 PM New York – Agilent net plunged 92% but revenues jumped 5%. Dicks Sporting fell 2% while sales rose 9%. Home Depot profit climbed. Medtronic net declined 8%. TJX net dropped 4% and lifted fiscal earnings guidance. Sunedison would acquire TerraForm Power for $2.4 billion.]

Tollbooth Index rose 0.2% or 15.28 to 9,832.36.

Earnings Review

Agilent Technologies Inc (A) dropped 1.2% or 48 cents to $40.76 after the instrument maker reported revenues in the fourth-quarter ending in October jumped 5% to $1.81 billion from a year ago period.

Net income in the quarter plunged 92% to $16 million or 5 cents a diluted share compared to $211 million or 63 cents from a same quarter last year.

Dicks Sporting Goods Inc (DKS) fell 1% or 49 cents to $47.02 after the sports and fitness equipment retailer said net sales in the third-quarter ending in November 1 soared 9% to $1.5 billion from a year ago period. Same store sales in the quarter rose 1.1%.

Net income in the quarter fell 1.6% to $49.2 million or 41 cents a diluted share compared to $50 million or 40 cents from a same quarter last year.

The Home Depot, Inc (HD) slipped 97 cents to $97.06 after the home improvement retailer reported sales in the third-quarter ending in September climbed 5.4% to $20.5 billion from a year ago period.

Net earnings in the quarter surged 7.1% to $1.5 billion or $1.15 a diluted share compared to $1.4 billion or 95 cents from a same quarter last year.

The company forecasted diluted earnings per share for the fiscal 2014 to grow 21% to about $4.54 and said it plans to repurchase additional$1.26 billion of shares in the fourth-quarter.

Medtronic, Inc (MDT) climbed 3.6% or $2.51 to $71.72 after the medical equipment maker reported revenues in the second-quarter ending on October 24 jumped 4.4% to $4.37 billion from a year ago period.

Net earnings in the quarter declined 8.2% to $828 million or 83 cents a diluted share compared to $902 billion or 89 cents from a same quarter last year.

TJX Companies Inc (TJX) declined 3% or $1.85 to $59.76 after the off-price apparel and home fashions retailer said net sales in the third-quarter ending in November 1 advanced 6% to $7.37 billion fro a year ago period. Comparable store sales in the quarter increased 2%.

Net income in the quarter dropped 4.4% to $595 million or 85 cents a diluted share compared to $622.6 million or 86 cents from a same quarter last year.

The retailer lifted diluted earnings per share guidance in the range of 86 cents to 90 cents, a 6% to 11% increase from last year’s 81 cents per share. Comparable store sales to increase between 1% and 2% and merchandise margins to rise.

Sunedison Inc (SUNE) surged 25.5% or $4.23 to $20.85 after the silicon wafers maker and subsidiary TerraForm Power Inc would buy First Wind for $2.4 billion to expand its wind power business in the U.S.

The deal is expected to close in the first quarter of 2015.

Urban Outfitters, Inc (URBN) plunged 8.6% or $2.68 to $28.12 after the lifestyle specialty retailer stated net sales in the third-quarter ending in October slipped 3% to $814 million from a year ago period. Comparable store sales from retail segment in the quarter soared 15%.

Net income in the quarter tumbled 33% to $47.1 million or 35 cents a diluted share compared to $70.3 million or 47 cents from a 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