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Market Update

Intuit, Lab Corp, Nordstrom Rise on Earnings


Author: Mukesh Buch
ticker.com
Last Update: 11:53 AM ET February 20 2015

11:50 AM New York Echostar net surged 68%. Deere & Co profit tumbled 43% on 17% decline in revenues. Intuit net loss widened but revenues jumped 3%. Marvell Technology revenues and profit plunged. Nordstrom net declined 5% while net sales climbed 9%.

Tollbooth Index nearly flat at 10,571.62.

Earnings Review

Echostar Corporation (SATS) gained 1.2% or 66 cents to $55.02 after the communication services provider said revenues in the fourth-quarter ending in December jumped 4.4% to $843.9 million from a year ago period.

Net income in the quarter surged 67.6% to $54.8 million or 59 cents per diluted share compared to $32.7 million or 5 cents from the same quarter last year.

Deere & Company (DE) fell 31 cents to $91.40 after the agricultural and turf equipment maker reported revenues in the first-quarter ending in January plunged 16.6% to $6.38 billion from a year ago period.

Net income in the quarter tumbled 43.2% to $386.8 million or $1.12 per diluted share compared to $681.1 million or $1.81 from the same quarter last year.

Intuit Inc (INTU) climbed 5.4% or $4.90 to $96.01 after the financial service provider said revenues in the second-quarter ending in December jumped 3.3% to $ $808 million from a year ago period.

Net loss in the quarter widened to $66 million or 23 cents per diluted share compared to $37 million or 13 cents from the same quarter last year.

The company forecasted revenues for the third-quarter between $2.08 billion and $2.15 billion and adjusted earnings per share in the range of $2.70 to $2.75.

Laboratory Corporation of America Holdings (LH) jumped 2.3% or $2.70 to $119.86 after the healthcare company reported net sales in the fourth-quarter ending in December increased 4.9% to $1.51 billion from a year ago period.

Net income in the quarter fell 5.3% to $119.6 million or $1.39 per diluted share compared to $126.3 million or $1.43 from the same quarter last year.

Marvell Technology Group Ltd (MRVL) rose 6 cents to $16.46 after the Bermuda-based fabless semiconductor provider said net revenues in the fourth-quarter ending in January declined 7.8% to $ $857.5 million from a year ago period.

Net income in the quarter plunged 29.1% to $81.7 million or 16 cents per diluted share compared to $115.3 million or 22 cents from the same quarter last year.

Nordstrom, Inc (JWN) climbed 3.9% or $3.04 to $80.18 after the fashion specialty retailer reported net sales in the fourth-quarter ending in January jumped 9% to $ $3.9 billion from a year ago period. Total comparable store sales in the quarter climbed 4.7%.

Net earnings in the quarter declined 4.8% to $255 million or $1.32 per diluted share compared to $115.3 million or $1.37 from the same quarter last year.

The retailer forecasted net sales for the year to climb between 7% and 9% and comparable store sales to jump in the range of 2% to 4%.

Public Service Enterprise Group Incorporated (PEG) advanced 2.7% or $1.07 to $41.35 after the utility provider said net sales in the fourth-quarter ending in December climbed 19.4% to $2.77 billion from a year ago period.

Net income in the quarter soared 138% to $476 million or 94 cents per diluted share compared to $200 million or 39 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