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Market Update

Macy's, Ralph Lauren Net Decline; McKesson, TubeMogul Jump


Author: Mukesh Buch
ticker.com
Last Update: 11:39 AM ET May 13 2015

11:35 AM New York Macy''s net declined 14%. McKesson profit tumbled 64%. Precision Castparts net plummeted 72%. Ralph Lauren net plunged 19%. TubeMogul net loss narrowed. Zillow net swung to profit.

Tollbooth Index slid 2.89 to 10,661.77.

Earnings Review

Diana Shipping Inc (DSX) rose 1 cent to $6.92 after the shipping transportation services provider said revenues in the first-quarter ending in March increased 2.2% to $42 million from a year ago period.

Comparable store sales in the quarter slid 0.1%.

Net loss in the quarter widened to $10.8 million or 15 cents per diluted share compared to $6.03 million or 8 cents from the same quarter last year.

Macy''s, Inc (M) dropped 1.4% or $1.01 to $64.35 after the apparel and accessories retailer reported sales in the first-quarter ending on May 2 slid 0.7% to $6.23 billion from a year ago period.

Comparable store sales in the quarter slid 0.1%

Net income in the quarter declined 13.8% to $193 million or 56 cents per diluted share compared to $224 million or 60 cents from the same quarter last year.

Macy''s forecasted diluted earnings per share for the year between $4.70 and $4.80.

McKesson Corporation (MCK) jumped 2.3% or $5.39 to $234.94 after the healthcare services provider reported revenues in the fourth-quarter ending in March soared 19% to $44.93 billion from a year ago period.

Net income in the quarter tumbled 64% to $132 million or 56 cents per diluted share compared to $370 million or $1.58 from the same quarter last year.

McKesson forecasted adjusted diluted earnings per share for the fiscal year ending March 2016 between $12.20 and $12.70, representing growth of 12% to 16%.

Precision Castparts Corp (PCP) decreased 1% or $2.08 to $205.85 after the metal components maker stated revenues in the fourth-quarter ending in March fell 0.8% to $2.50 billion from a year ago period.

Net income in the quarter plummeted 72.1% to $135 million or 96 cents per diluted share compared to $484 million or $3.31 from the same quarter last year.

Ralph Lauren Corp (RL) slipped 1.5% or $2.02 to $131.18 after the apparel and accessories maker reported net revenues in the fourth-quarter ending in March climbed 7% to $1.9 billion from a year ago period.

Net income in the quarter plunged 18.9% to $124 million or $1.41 per diluted share compared to $153 million or $1.68 from the same quarter last year.

For the quarter, wholesale segment sales increased 8% and retail sales jumped 6%.

TubeMogul Inc (TUBE) soared 7.1% or $1.10 to $16.53 after the enterprise software developer said total revenues in the first-quarter ending in March plummeted 27.4% to $22 million from a year ago period.

Net loss in the quarter narrowed to $0.8 million or 11 cents per diluted share compared to $7.1 million or 24 cents from the same quarter last year.

Zillow Group Inc (Z) declined 3.5% or $3.48 to $94.66 after the online real estate marketplace stated revenues in the first-quarter ending in March soared 92.1% to $127.3 million from a year ago period.

Comparable sales in the quarter slid 0.1%

Net in the quarter swung to profit $58.4 million or $1.19 per diluted share compared to a loss of $6.3 million or 16 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