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Market Update

Ford, Chrysler Sales Jump but GM, Nissan Sales Drop in August


Author: Mukesh Buch
ticker.com
Last Update: 12:53 PM ET September 01 2015

12:00 PM New York – Dollar Tree net swung to a loss. Donaldson net plunged 23%. Ford sales in August soared 5.4%. Chrysler Sales in August increased 2%. GM sales in the U.S. fell 0.7%. Nissan sales decreased 0.8%. SAIC profit tumbled 35%.

Tollbooth Index dropped 193.37 or 1.9% to 10,148.72.

Earnings Review

Dollar Tree, Inc (DLTR) plummeted 8.1% or $6.17 to $70.09 after the fixed price stores operator reported net sales in the second-quarter ending on August 1 soared 48.3% from a year ago to $3.01 billion.

Same store sales in the quarter increased 2.7%, at the high-end of the previous estimate offered by the company.

Net in the quarter swung to a loss of $98 million or 46 cents per diluted share compared to profit of $121.5 million or 59 cents from the same quarter last year.

For the third-quarter, the retailer forecasted net sales in the range of $4.78 billion to $4.87 billion.

The company estimated net sales for the year between $15.30 billion and $15.52 billion, based on a low single-digit increase in same-store sales.

Donaldson Company, Inc (DCI) slid 11 cents to $31.23 after the filtration systems provider said sales in the fourth-quarter ending in July declined 8.8% from a year ago to $609.7 million.

Comparable sales in the quarter increased 2.8%.

Net income in the quarter plunged 22.9% to $56.3 million or 41 cents per diluted share compared to $72.9 million or 50 cents from the same quarter last year.

Donaldson forecasted full-year sales between $2.32 billion and $2.42 billion and earnings per share in the range of $1.56 to $1.76.

Separately, the company agreed to acquire Engineered Products Co, the maker of indicators, gauges, switches and sensors for air filtration and liquid filtration systems.

Ford Motor Company (F) rose 5 cents to $13.93 after the auto maker said total U.S. sales in August soared 5.4% to 234,237 vehicles and Ford brand sales soared 5.4% to 225,601 vehicles and Lincoln sales jumped 6% to 8,636 vehicles.

Fiat Chrysler Automobiles NV (FCAU) dropped 2.9% or 41 cents to $13.72 after the passenger cars maker said total U.S. vehicle sales in August increased 2% to 201,672 units from 198,379 units in a year ago month.

Total car sales in the month declined 10% to 38,504 units while truck sales jumped 5% to 163,168 units from a year ago period. Jeep Brand sales soared 18% to 80,804 units and Ram Truck brand sales increased 6% to 49,439 units.

Chrysler brand declined 14% to 25,580 units and Dodge brand sales also tumbled 15% to 42,386 units.

General Motors Company (GM) slumped 2.1% or 63 cents to $28.81 after the auto maker reported total vehicle sales in the U.S. in August fell 0.7% to 270,480 units from 272,423 units in the same month a year ago.

GM said Chevrolet pickup sales in the month surged 26% and retail sales jumped 6% but fleet sales plunged 24% and rental deliveries tumbled 38%.

Nissan Motor Co Ltd, the passenger car maker said total U.S. sales in August decreased 0.8% to 133,351 units and car sales declined 6.3% to 76,653 units while truck sales jumped 7.9 % to 56,698 units from a year ago period.

Matrix Service Co (MTRX) soared 9.2% or $1.83 to $21.83 after the infrastructure company said revenues in the fourth-quarter ending in June jumped 7.6% from a year ago to $370.5 million.

Net income in the quarter soared 43.4% to $10.9 million or 40 cents per diluted share compared to $7.6 million or 28 cents from the same quarter last year.

The company estimated revenues for the year between $1.4 billion and $1.6 billion and earnings per share in range of $1.45 to $1.75.

Phillips 66 (PSX) slipped 1.6% or $1.25 to $77.82 on late Friday Warren Buffett’s Berkshire Hathaway agreed to acquire 10.8% stake in the refining and logistics company valued at roughly $4.47 billion.

Science Applications International Corp (SAIC) plunged 8.9% or $4.33 to $44.47 after the engineering services provider stated revenues in the second-quarter ending in July surged 16% from a year ago to $1.09 billion.

Net income in the quarter tumbled 35% to $22 million or 46 cents per diluted share compared to $34 million or 70 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