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Market Update

Twitter Explores Sale as Growth Stalls, Finish Line Net Tumble


Author: Mukesh Buch
ticker.com
Last Update: 4:05 AM ET September 23 2016

12:50 PM New York AAR net tumbled 59% but revenues jumped 5%. Finish Line lifted comparable sales forecast despite profit in the second-quarter plunged 15%. Twitter surged 20% on media report that the microblogging site is exploring merger talks.]

Tollbooth Index fell 33.16 or 0.3% to 11,059.24.

Earnings Review

AAR Corp (AIR) jumped 5.5% or $1.60 to $30.61 after the aircraft equipment maker said sales in the first-quarter ending on September 3 advanced 4.7% from a year ago to $404.8 million.

Net income in the quarter tumbled 58.5% to $9.5 million or 28 cents per diluted share compared to the $22.9 million or 65 per share from the same quarter last year.

Finish Line Inc (FINL) slipped 69 cents to $23.30 after the specialty retailer said revenues in the second-quarter ending on August 27 jumped 5.4% from a year ago to $509.4 million.

Comparable store sales in the quarter soared 5.1%.

Net income in the quarter plunged 14.7% to $22.1 million or 53 cents per diluted share compared to the $25.9 million or 57 cents per share from the same quarter last year.

The retailer forecasted comparable store sales to increase between 3% and 5% and diluted earnings per share in the range of $1.50 to $1.56.

Twitter Inc (TWTR) surged 20.3% or $3.79 to $22.43 after Reuters and CNBC reported that the micro-blogging website is initiated talks with several technology companies to explore selling itself, including Google and Salesforce.com.

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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