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Market Update

KB Home, Red Hat Jump; CarMax, Finisar, Hershey, Healthways Drop


Author: Mukesh Buch
ticker.com
Last Update: 11:53 AM ET June 19 2015

11:50 PM New York CarMax sales and profit jumped 7%. Finisar net plunged 75%. Hershey lowered its fiscal sales forecast. Healthways plunged on weak outlook. KB Home net tumbled 64%. Lumenis agreed to be acquired by China-based XIO Group for $510 million. Red Hat profit surged 28%.

Tollbooth Index slid 10.50 to 10,857.98.

Earnings Review

CarMax, Inc (KMX) declined 3.8% or $2.75 to $69.22 after the card dealer and services provider reported revenues in the first-quarter ending in May climbed 7.1% to $4.01 billion from a year ago period.

Net income in the quarter jumped 7.3% to $181.9 million or 86 cents per diluted share compared to $169.7 million or 76 cents from the same quarter last year.

The company said total used vehicle unit sales soared 9.3% and comparable store used unit sales increased 4.9%.

Finisar Corporation (FNSR) declined 8.2% or $1.80 to $20.35 after the communication products provider said revenues in the fourth-quarter ending on May 3 increased 4.6% to $320 million from a year ago period.

Net income in the quarter plunged 74.6% to $7.3 million or 7 cents per diluted share compared to $28.8 million or 28 cents from the same quarter last year.

The company forecasted revenues for the first-quarter in the range of $308 million to $328 million and adjusted earnings per share between 23 cents and 29 cents.

Hershey Co (HSY) dropped 2.5% or $2.30 to $89.96 after the confectionery products maker lowered its net sales forecast for the year to increase between 2.5% and 3.5% from the previous estimated range to increase between 4.5% and 5.5%.

The company estimated earnings per share for the year in the range of $3.62 to $3.79.

Healthways, Inc (HWAY) plunged 20.2% or $3.14 to $12.39 after the healthcare services provider forecasted revenues for the year in the range of $770 million to $785 million, compared to earlier estimated range between $800 million and $825 million.

KB Home (KBH) soared 7.8% or $1.18 to $16.14 after the homebuilder said revenues in the second-quarter ending in May climbed 10% to $623 million from a year ago period.

Net income in the quarter tumbled 63.9% to $9.6 million or 10 cents per diluted share compared to $26.6 million or 27 cents from the same quarter last year.

Lumenis Ltd (LMNS) rose 11 cents to $13.73 after the Israel-based laser equipment provider agreed to be acquired by China-based XIO Group, the alternative investments company for $14 per share in cash or $510 million.

The transaction is expected to close in September.

Nucor Corporation (NUE) slid 10 cents to $47.74 after the steel products maker estimated earnings per share for the second-quarter diluted ending in July in the range of 20 cents to 25 cents comparable to 46 cents reported in a year ago period.

Red Hat Inc (RHT) increased 1.7% or $1.38 to $79.88 after the open source software developer reported revenues in the first-quarter ending in May soared 14% to $481 million from a year ago period.

Net income in the quarter surged 27.6% to $48.1 million or 26 cents per diluted share compared to $37.7 million or 20 cents from the same quarter last year.

Smith & Wesson Holding Corp (SWHC) slumped 3.2% or 51 cents to $15.58 after the firearms maker said net sales in the fourth-quarter ending in April jumped 6.2% to $181 million from a year ago period.

Net income in the quarter declined 12.7% to $21.9 million or 40 cents per diluted share compared to $25.1 million or 44 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