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Market Update

General Mills, Herman Miller, Worthington Jump; FedEx Declines


Author: Mukesh Buch
ticker.com
Last Update: 9:06 AM ET December 17 2014

12:05 PM New York FedEx net soared 23% on 5% increase in revenues. General Mills net declined 37%. Herman Miller net swung to profit. Jabil Circuit profit tumbled 39% despite revenues climbed 5%. Oracle net dropped 2%.Worthington Ind net jumped 28%.

Tollbooth Strategy Index jumped 1.8% or 175.96 to 9,833.57.

Earnings Review

FedEx Corporation (FDX) declined 3.7% or $6.48 to $167.78 after the parcel delivery company said revenues in the first-quarter ending in November jumped 5% to $11.9 billion from a year ago period.

Net income in the quarter soared 23% to $616 million or $2.14 a diluted share compared to $500 million or $1.57 from a same quarter last year.

General Mills, Inc (GIS) jumped 2.1% or $1.06 to $52.19 after the consumer foods retailer reported net sales in the second-quarter ending on November 23 slipped 3.4% to $4.71 billion from a year ago period.

Net earnings in the quarter declined 37.1% to $346.1 million or 56 cents a diluted share compared to $549.9 million or 84 cents from a same quarter last year.

Herman Miller, Inc (MLHR) climbed 3.3% or 99 cents to $31.10 after the interior furniture manufacture said net sales in the second-quarter ending on November 29 surged 29 20.2% to $565.4 million from a year ago period.

Net in the quarter swung to profit $27.8 million or 46 cents a diluted share compared to a loss of $80.6 million or $1.37 from a same quarter last year.

The company said new orders in the quarter soared 13.8% to $572.1 million from the prior year level.

Jabil Circuit, Inc (JBL) gained 1.9% to 38 cents to $20.07 after the semiconductor maker stated net revenues in the first-quarter ending in November climbed 5% to $4.55 billion from a year ago period.

Net income in the quarter tumbled 38.8% to $72.2 million or 37 cents a diluted share compared to $117.9 million or 57 cents from a same quarter last year.

Oracle Corporation (ORCL) increased 1.3% or 53 cents to $41.16 after the hardware and software service provider reported total revenues in the first-quarter ending in November rose 3.6% to $9.60 billion from a year ago period.

Net income in the quarter dropped 1.9% to $2.50 billion compared to $2.55 billion and diluted earnings per share were flat at 56 cents from a same quarter last year.

Worthington Industries, Inc (WOR) jumped 3.3% or $1.14 to $35.39 after the diversified metals processing company said net sales in the second-quarter ending in November soared 13.1% to $871 million from a year ago period.

Net earnings in the quarter jumped 28.3% to $29.5 million or 43 cents a diluted share compared to $23 million or 32 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