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Market Update

Starbucks to Split Stock, Lennar Net Surges 47%


Author: Mukesh Buch
ticker.com
Last Update: 1:26 PM ET March 19 2015

1:20 PM New York Cintas net climbed 12%. Clarcor profit soared 10% on 12% increase in revenues. Herman Miller net jumped 8% and lifted revenue outlook. Lennar net surged 47%. Starbucks plans for 2-for-1 stock split, sixth since 1992. Tech Data net tumbled 27%. Williams-Sonoma net climbed 10%.

Tollbooth Index fell 0.6% or 28.35 to 10,526.54.

Earnings Review

Cintas Corporation (CTAS) declined 3.2% or $2.77 to $83.39 after the businesses services provider said total revenues in the third-quarter ending in February slid 0.2% to $1.11 billion from a year ago period.

Net income in the quarter climbed 12.2% to $94.9 million or 80 cents per diluted share compared to $84.6 million or 69 cents from the same quarter last year.

For the fiscal 2015, the company forecasted revenue to be in the range of $4.46 billion to $4.49 billion and earnings per share between $3.55 and $3.58.

Clarcor Inc (CLC) rose 1 cent to $65.70 after the filtration products maker reported net sales in the first-quarter ending in February climbed 12.3% to $351.1 million from a year ago period.

Net income in the quarter soared 9.9% to $26.7 million or 53 cents per diluted share compared to $24.3 million or 48 cents from the same quarter last year.

Herman Miller, Inc (MLHR) fell 6 cents to $28.82 after the furniture designer stated net sales in the third-quarter ending in February soared 13.3% to $516.4 million form a year ago period.

Net income in the quarter jumped 8.2% to $21 million or 35 cents per diluted share compared to $19.4 million or 33 cents from the same quarter last year.

Herman forecasted sales for the fourth-quarter between $530 million to $560 million and earnings per share in the range of 39 cents to 43 cents.

Lennar Corporation (LEN) slid 31 cents to $49.38 after the real estate developer stated total revenues in the first-quarter ending in February soared 21% to $1.64 billion from a year ago period.

Net income in the quarter surged 47.2% to $114.96 million or 50 cents per diluted share compared to $78.1 million or 35 cents from the same quarter last year.

Starbucks Corporation (SBUX) jumped 2.3% or $2.24 to $98.08 after the specialty coffee house chain announced a 2-for-1 stock split, sixth split since the company went public in July 1992. The stock was last split in October 2005.

Starbucks plans to report its fiscal second-quarter financial results on April 23.

Tech Data Corp (TECD) slipped 25 cents to $57.08 after the technology products wholesaler said net sales in the fourth-quarter ending in January declined 8% to $7.34 billion form a year ago period.

Net income in the quarter tumbled 26.5% to $80.7 million or $2.11 per diluted share compared to $109.8 million or $2.87 from the same quarter last year.

Williams-Sonoma, Inc (WSM) dropped 2.1% or $1.61 to $79.35 after the home furnishing retailer reported total revenues in the fourth-quarter ending on February 1 jumped 4.8% to $1.54 billion from a year ago period.

Net income in the quarter climbed 9.5% to $147 million or $1.57 per diluted share compared to $133.8 million or $1.38 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