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Market Update

Target Lifts Annual Outlook; Lowe’s Same Store Sales Rise 5.2%


Author: Mukesh Buch
ticker.com
Last Update: 12:35 PM ET May 20 2015

12:25 PM New York – American Eagle profit surged more than six-fold. Analog Devices net climbed 10%. Autodesk net tumbled 33%. Hormel Foods net climbed 29%. Heico net jumped 17%. Target quarterly net surged 52%. Lowe’s net advanced 7.8% to $673 million.

Tollbooth Index slipped 0.2% or 21.88 to 10,792.67.

Earnings Review

American Eagle Outfitters (AEO) soared 5.3% or 83 cents to $16.56 after the specialty retailer said total revenues in the first-quarter ending on May 2 jumped 8% to $699.5 million from a year ago period.

Comparable store sales in the quarter gained 7%.

Net earnings in the quarter surged more than six-fold to $29.1 million or 15 cents per diluted share compared to $3.9 million or 2 cents from the same quarter last year.

Analog Devices, Inc (ADI) climbed 4% or $2.54 to $65.98 after the integrated circuits maker reported revenues in the second-quarter ending on May 2 soared 18.2% to $821 million from a year ago period.

Net income in the quarter climbed 9.5% to $205.3 million or 65 cents per diluted share compared to $187.4 million or 57 cents from the same quarter last year.

Autodesk, Inc (ADSK) fell 22 cents to $57.31 after the engineering software developer said total revenues in the first-quarter ending in April climbed 9.1% to $646.5 million from a year ago period.

Net income in the quarter tumbled 32.5% to $19.1 million or 8 cents per diluted share compared to $28.3 million or 12 cents from the same quarter last year.

Hormel Foods Corporation (HRL) jumped 3.9% or $2.18 to $57.97 after the food products maker reported sales in the second-quarter ending on April 26 increased 2% to $2.3 billion from a year ago period.

Net earnings in the quarter climbed 29% to $180.2 million or 67 cents per diluted share compared to $140.1 million or 52 cents from the same quarter last year.

Heico Corporation (HEI) soared 6% or $3.50 to $61.54 after the aircraft component maker said revenues in the second-quarter ending in April jumped 3.3% to $291.4 million from a year ago period.

Net income in the quarter jumped 16.5% to $33.1 million or 49 cents per diluted share compared to $28.4 million or 42 cents from the same quarter last year.

Target Corporation (TGT) rose 11 cents to $78.04 after the after the specialty retailer stated net sales in the first-quarter ending on May 2 rose 2.8% to $17.1 billion from a year ago period.

Comparable store sales in the quarter increased 2.3%.

Net earnings in the quarter surged 51.6% to $635 million or 98 cents per diluted share compared to $418 million or 66 cents from the same quarter last year.

The company estimated second quarter 2015 adjusted earnings per share between $1.04 and $1.14, compared to $1.01 in second quarter 2014.

The retailer lifted adjusted earnings per share forecast for the year to between $4.50 and $4.65 compared to prior guidance range of $4.45 to $4.65.

Lowe’s Companies, Inc (LOW) declined 4% or $2.88 to $68.95 after the home improvement retailer said net sales in the first-quarter ending on May 1 jumped 5.4% to $14.1 billion from a year ago period.

Comparable store sales in the quarter rose 5.2%.

Net earnings in the quarter advanced 7.8% to $673 million or 70 cents per diluted share compared to $624 million or 61 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