S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

Dollar Tree, Heico, Lowe’s, Target, TJX Rise; Chesapeake Drops


Author: Mukesh Buch
ticker.com
Last Update: 11:08 AM ET February 26 2014

10:50 AM New York – Chesapeake net swung to a loss. Dollar Tree net dropped 7%. Heico profit surged 38% on 23% rise in sales. Lowe’s net and sales jumped 6%. Nordson profit plunged 17% but revenue rose. Target net tumbled 46%. TJX net slid and company lifts dividend.

Chesapeake Energy Corporation (CHK) plunged 7.9% or $2.13 to $24.79 after the oil and gas explorer reported total revenues in the fourth-quarter ending in December surged 29% to $4.5 billion.

Net in the quarter swung to a loss $159 million or 24 cents a diluted share compared to a profit of $250 million or 39 cents.

Dollar Tree, Inc. (DLTR) jumped 4% or $2.11 to $54.79 after the discount retailer said net sales in the fourth-quarter ending on February 1 slid 0.9% to $2.23 billion. Comparable store sales in the quarter increased 1.2%.

Net income in the quarter dropped 7% to $213 million or $1.02 a diluted share compared to $228.6 million or $1.01.

Heico Corporation (HEI) climbed 5.1% or $2.98 to $61.27 after the aircraft parts maker stated reported total revenues in the fourth-quarter ending in December soared 23% to $226.8 million.

Net income in the quarter surged 38% to $27.5 million or 41 cents a diluted share compared to $20 million or 30 cents.

Lowe’s Companies, Inc (LOW) soared 5.8% or $2.82 to $50.93 after the home improvement retailer reported net sales in the fourth-quarter ending in January jumped 6% to $11.7 billion. Comparable store sales in the quarter advanced 3.9%.

Net income in the quarter increased 6% to $306 million or 29 cents a diluted share compared to $288 million or 26 cents.

Nordson Corporation (NDSN) fell 55 cents to $70.33 after the testing equipments maker said total revenues in the first-quarter ending in December increased 4% to $359 million.

Net income in the quarter plunged 17% to $35 million or 54 cents a diluted share compared to $42 million or 65 cents.

Papa John’s International, Inc (PZZA) surged 6.3% or $3.06 to $51.76 after the pizza delivery company reported total revenues in the fourth-quarter ending in December increased 6% to $387.9 million.

Net income in the quarter jumped 8% to $18.8 million or 41 cents a diluted share compared to $17.4 million or 37 cents.

Target Corporation (TGT) climbed 4.7% or $2.66 to $59.18 after the discount store operator stated total sales in the fourth-quarter ending on February 1 dropped 3.8% to $21.5 billion. Comparable store sales in the quarter slipped 2.5%.

Net earnings in the quarter tumbled 46% to $520 million or 81 cents a diluted share compared to $961 million or $1.47.

The TJX Companies, Inc (TJX) gained 1.2% or 71 cents to $61.70 after the off-price retailer reported net sales in the fourth-quarter ending on February 1 rose 1% to $7.8 billion. Comparable store sales in the quarter jumped 3%.

Net earnings in the quarter slipped 3.7% to $582.3 million or 81 cents a diluted share compared to $604.8 million or 82 cents.

The latest period had one fewer week in the quarter.

The company announced a new share buyback plan of $2 billion and said it plans to lift quarterly dividend by 21% to 17.5 cents.

The retailer for the year earnings $2.14 billion compared to $1.91 billion in the year ago period. And, earnings per share increased to $2.94 from $2.55 in the prior year.

Revenues in the year increased 6% to $27.42 billion from $25.88 billion.

The company estimated first quarter earnings between 65 cents a share and 66 cents and full-year fiscal 2015 earnings between $3.05 and $3.19.

  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc