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Market Update

FactSet Rises, DSW Falls; Hertz to Spin Off Equipment Rental Unit


Author: Mukesh Buch
ticker.com
Last Update: 1:13 PM ET March 18 2014

12:40 PM New York DSW net jumped 4% but sales dropped 4%. FactSet net climbed 18% to $52 million and lifted outlook. FutureFuel surged after profit and sales climbed. GameStop dropped after Wal-Mart launched a plan to accept used videogames in exchange for store gift cards. Hertz loss narrowed.

DSW Inc (DSW) declined 3.1% or $1.23 to $38.76 after the footwear and accessory retailer reported sales in the fourth-quarter ending on February 2 dropped 3.7% to $572 million. Comparable sales in the quarter were flat.

Net income in the quarter jumped 3.7% to $28.1 million or 30 cents a diluted share compared to $27.1 million or 30 cents.

The company expects revenue growth in the year of 6% to 7% and earnings per share between $1.80 and $1.95.

FactSet Research Systems Inc (FDS) climbed 7.8% or $8.16 to $112.70 after the professional information services provider said revenues in the second-quarter ending in February jumped 7% to $226.9 million.

Net income in the quarter climbed 17.7% to $52.4 million or $1.22 a diluted share compared to $44.5 million or $1.

The company expects revenues in the third-quarter between $229 million and $233 million and diluted earnings per share in the range of $1.24 and $1.26

FutureFuel Corp (FF) surged 16.5% or $2.89 to $20.45 after the biofuels company stated in the fourth-quarter ending in December soared 68% to $125.6 million.

Net income in the quarter surged to $26.5 million or 61 cents a diluted share compared to $6.2 million or 15 cents.

GameStop Corp (GME) plummeted 4.8% or $1.91 to $37.84 after the Wal-Mart Stores Inc plans to allow its U.S. customers to hand in used videogames in exchange for store or online gift cards.

Hertz Global Holdings, Inc (HTZ) rose 10 cents to $27.39 after the auto-rental group plans to spin off its construction equipment rental division into a separate and publicly traded company.

Separately, the company reported revenue in the fourth-quarter ending in December climbed 10.2% to $2.56 billion.

Net losses in the quarter narrowed to $0.6 million or break even on a diluted share basis compared to $36.8 million or 9 cents per share.

For the full year 2014, the company forecasts revenues to grow 7.2% to between $11.40 billion and as high as $11.70 billion and adjusted net income to jump 14.1% to $785 million and as high as $925 million.

Adjusted diluted earnings per share to increase to a range between $1.70 and $2.

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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