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Market Update

TJX Jumps; Stage Stores, Urban Outfitters, Wal-Mart Decline


Author: Mukesh Buch
ticker.com
Last Update: 12:20 PM ET May 19 2015

12:05 PM New York Agilent net plunged 40%. Boeing signed contract with China-based privately held Ruili Airlines worth $6 billion. Home Depot net surged 14%. Stage Stores net loss narrowed. TJX net soared 8%. Urban Outfitters net plunged 13%. Wal-Mart net declined 7%.

Tollbooth Index edged up 7 to 10,820.06.

Earnings Review

Agilent Technologies, Inc (A) fell 10 cents to $42.53 after the measurement equipment maker reported revenues in the second-quarter ending in April slipped 3% to $963 million from a year ago period.

Net income in the quarter plunged 40% to $83 million or 25 cents per diluted share compared to $139 million or 41 cents from the same quarter last year.

Agilent forecasted revenues for the third-quarter in the range of $995 million to $1.02 billion and adjusted earnings per share between 38 cents and 42 cents.

For the year, the scientific instruments maker forecasted revenues between $4.05 billion to $4.11 billion less than earlier estimated range of $4.06 billion to $4.12 billion and adjusted earnings per share in the range of $1.67 to $1.73.

Boeing Company (BA) gained 93 cents to $147.65 after the diversified conglomerate signed a contract with China-based new privately-owned Ruili Airlines and two aircraft-leasing companies to supply its single-aisle narrow body 737 MAX commercial aircraft for a list price of $6.1 billion.

Generally aircraft makers discount list price between 30% and 60% to airlines.

BGC Partners, Inc (BGCP) slid 9 cents to $9.31 after the brokerage company agreed to acquire real estate leasing services provider Excess Space Retail Services Inc, financial terms of the deal not disclosed.

Colfax Corporation (CFX) slipped 1.2% or 61 cents to $51 after the engineering pump maker agreed to acquire the Roots blowers and compressors business unit, Industrial Air & Gas Technologies from GE Oil & Gas for $185 million in cash.

The transaction is expected to close in early third-quarter.

The Home Depot Inc (HD) slipped 64 cents to $113.68 after the home improvement retailer reported net sales in the first-quarter ending in April jumped 6.1% to $20.9 billion from a year ago period.

Comparable store sales in the quarter climbed 6.1% and comparable sales for U.S. stores soared 7.1%.

Net income in the quarter surged 14.3% to $1.6 billion or $1.21 per diluted share compared to $1.4 billion or $1 from the same quarter last year.

Stage Stores Inc (SSI) plunged 11.6% or $2.18 to $16.56 after the apparel, accessories and cosmetics retailer stated net sales in the first-quarter ending on May 2 fell 0.7% to $369.3 million from a year ago period.

Comparable store sales in the quarter slipped 1.1%.

Net loss in the quarter narrowed to $8.6 million or 27 cents per diluted share compared to $18.8 million or 60 cents from the same quarter last year.

The Company restated earlier guidance for comparable sales in the range of flat to 2% higher and earnings per diluted share between $1.20 and $1.28.

TJX Companies Inc (TJX) climbed 3.9% or $2.64 to $69.90 after the off-price apparel and home fashions retailer said net sales in the first-quarter ending on May 2 climbed 6% to $6.9 billion from a year ago period.

Comparable store sales in the quarter jumped 5%.

Net income in the quarter soared 8% to $474.6 million or 69 cents per diluted share compared to $454.3 million or 64 cents from the same quarter last year.

For the second quarter, the TJX forecasted diluted earnings per share to be in the range of 72 cents to 74 cents compared to 73 cents in the same period a year ago.

Urban Outfitters, Inc (URBN) tumbled 17.1% or $6.98 to $33.74 after the specialty retailer said net sales in the first-quarter ending in April climbed 8% to $739 million from a year ago period.

Comparable store sales in the quarter increased 4%. Comparable Retail segment net sales increased 17% at Free People and net sales in wholesales segment surged 18%.

Net income in the quarter plunged 12.5% to $32.8 million or 25 cents per diluted share compared to $37.5 million or 26 cents from the same quarter last year.

Whirlpool Corporation (WHR) gained 29 cents to $189.02 after the home appliances maker agreed to acquire privately held a manufacturer of specialty laundry equipment maker American Dryer Corporation with no financial disclosed.

The transaction is expected to close in early July.

Wal-Mart Stores, Inc (WMT) declined 4.3% or $3.46 to $76.46 after the discount stores operator reported total revenues sales in the first-quarter ending in April slid 0.1% to $114.8 billion from a year ago period.

Total comparable store sales in the quarter increased 1%. Sam''s Club net sales declined 3% to $13.5 billion and international net sales declined 6.6% to $30.3 billion.

Net income in the quarter declined 6.9% to $3.3 billion or $1.03 per diluted share compared to $3.6 billion or $1.11 from the same quarter last year.

The retailer forecasted earnings per share for the second-quarter in the range of $1.06 to $1.18.

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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