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Market Update

U.S. Movers: American Eagle, Intuit, Smucker, Lowes, Staples, Target


Author: Mukesh Buch
ticker.com
Last Update: 11:34 AM ET August 21 2013

11:25 AM New York American Eagle net grew 3%. Intuit net swung to a loss but sales climbed. Smucker net rose 2%. Lowes net surged 26% as sales jumped 10%. Staples declined 15% after sales slid. Target net plunged 13%.

American Eagle Outfitters, Inc (AEO) plunged 8.7% or $1.43 to $14.95 after the specialty retailer stated total revenue in the second-quarter ending on August 3 fell 2% to $727 million. Consolidated comparable store sales in the quarter declined 7%.

Net income in the quarter grew 3% to $19.6 million or 10 cents a diluted share compared to $19 million or 10 cents.

For the third-quarter, the company expects diluted earnings per share in the range of 14 cents to 16 cents.

Intuit Inc. (INTU) gained 1.2% or 75 cents to $63.89 after the financial service provider reported net sales in the fourth-quarter ending in July jumped 12% to $634 million. Net in the quarter swung to a loss $16 million or 5 cents a diluted share compared to a profit of $4 million or 1 cent.

For the year, the company expects revenue in the range of $4.44 billion to $4.53 billion and diluted earnings per share between $3.52 and $3.60.

For the first-quarter, the company expects revenue between $595 million and $605 million and diluted loss per share in the range of 10 cents to 11 cents.

The J. M. Smucker Company (SJM) slipped 78 cents to $108.32 after the food products maker stated net sales in the first-quarter ending in July rose 1% to $1.35 billion. Net income in the quarter increased 2% to $131.5 million or $1.24 a diluted share compared to $129.4 million or $1.17.

The company added operating income in the first-quarter jumped 12% to $213.3 million.

Lowes Companies, Inc (LOW) soared 5.8% or $2.56 to $46.64 after the retailer said sales in the second-quarter ending on August 2 jumped 10% to $15.7 billion. Comparable store sales in the quarter advanced 9.6%.

Net earnings in the quarter surged 26% to $941 million or 88 cents a diluted share compared to $747 million or 64 cents.

The Madison Square Garden Company (MSG) slid 7 cents to $58.35 after the entertainment and media reported revenue in the fourth-quarter ending in June grew 1% to $334.6 million. Net income in the quarter jumped 10% to $36.4 million or 47 cents a diluted share compared to $28.6 million or 37 cents.

PetSmart, Inc. (PETM) dropped 4.1% or $3.06 to $71.85 after the pet products supplier stated total sales in the second quarter ending in June jumped 5.3% to $1.7 billion. Comparable store sales in the quarter increased 3.4%.

Net income in the quarter climbed 18% to $93 million or 89 cents a diluted share compared to $79 million or 71 cents.

Staples, Inc. (SPLS) plummeted 12.8% or $2.16 to $14.68 after the office products retailer said sales in the second-quarter ending in June fell 2% to $5.3 billion. Net income in the quarter declined 15% to $102.5 million or 16 cents a diluted share compared to $120.4 million or 18 cents.

For full-year, the company expects diluted earnings per share from continuing operations to be in the range of $1.21 to $1.25.

Toll Brothers, Inc. (TOL) gained 2.1% or 66 cents to $32.30 after the home builder stated net sales in the third-quarter ending in July surged 24% to $689.2 million. Net income in the quarter plunged 24% to $46.6 million or 26 cents a diluted share compared to $61.6 million or 36 cents.

Target Corporation (TGT) dropped 3% or $2.07 to $65.87 after the retailer reported total revenue in the second-quarter ending on August 3 grew 2% to $17.1 billion. Comparable store sales in the quarter increased 1.2%.

Net earnings in the quarter plunged 13% to $611 million or 95 cents a diluted share compared to $704 million or $1.06.

In third-quarter, the company expects adjusted earnings per share in the range of 80 cents to 90 cents and GAAP earnings per share between 55 cents and 65 cents.

For full-year, Target expects adjusted earnings per share between $4.70 and $4.90.

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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