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Market Update

Smucker, Vail Resorts Jump; Restoration Hardware Plunges


Author: Mukesh Buch
ticker.com
Last Update: 4:06 PM ET June 09 2016

2:00 PM New York AEP Industries net soared 24%. ABM Industries profit tumbled 76%. J. M. Smucker net swung to profit after sales surged 25%. Restoration Hardware net swung to a loss and revenues advanced 8%. Vail Resorts net surged 18%.

Tollbooth Index slipped 35.71 or 0.3% to 10,750.32.

Earnings Review

AEP Industries Inc (AEPI) jumped 8.2% or $5.16 to $68.38 after the plastic packaging films maker said net sales in the second-quarter ending in April fell 4% from a year ago to $273.2 million.

Net income in the quarter soared 24.3% to $13.8 million or $2.68 per diluted share compared to $11.1 million or $2.18 per share from the same quarter last year.

ABM Industries, Inc (ABM) increased 6.9% or $2.38 to $37.14 after the cleaning services provider stated revenues in the second-quarter ending in April advanced 6.9% from a year ago to $1.26 billion.

Net income in the quarter tumbled 76.1% to $4.4 million or 8 cents per diluted share compared to $18.3 million or 32 cents per share from the same quarter last year.

The company estimated GAAP diluted earnings per share in fiscal 2016 between $1.07 and $1.17.

J M Smucker Co (SJM) soared 7.5% or $10 to $142.71 after the food and beverage products maker reported net sales in the fourth-quarter ending in April surged 25% from a year ago to $1.81 billion.

Net in the quarter swung to profit $190 million or $1.61 per diluted share compared to a loss of $90.3 million or 82 cents per share from the same quarter last year.

The company estimated revenues in the fiscal 2017 to fall 1% and non-GAAP diluted earnings per share between $7.60 and $7.75.

Restoration Hardware Holdings Inc (RH) tumbled 21.2% or $7.63 to $28.44 after the luxury home furnishings retailer reported net revenues in the first-quarter ending in April advanced 8% from a year ago to $495.5 million.

Comparable store revenues in the quarter increased 4%.

Net in the quarter swung to a loss of $13.5 million or 33 cents per diluted share compared to $7.2 million or 17 cents per share from the same quarter last year.

Vail Resorts, Inc (MTN) advanced 2.4% or $3.26 to $138.43 after the mountain and ski resort operator said net sales in the third-quarter ending in April jumped 11.8% from a year ago to $647.5 million.

Net income in the quarter surged 18.2% to $157.6 million or $4.23 per diluted share compared to $133.4 million or $3.56 per share 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