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Market Update

U.S. Movers: Best Buy, Dominos Pizza, Salesforce.com, Sothebys, Gap


Author: Mukesh Buch
ticker.com
Last Update: 10:09 AM ET March 01 2013

10:00 AM New York Best Buy fourth quarter net loss narrowed and Dominos net soared 22%. Salesforce.com net loss widened. Sothebys net dropped 7% and Gap net surged 61%. Universal Health net climbed 42%.

Best Buy Co., Inc. (BBY) climbed 4.6% or 76 cents to $17.17 after the electronic products retailer reported revenue in the fourth quarter ending on February 2 grew 2% to $16.71 billion from $16.67 billion in the same period of last year. Domestic comparable store sales in the quarter increased 0.9%.

Net loss in the quarter narrowed to $409 million or $1.21 a diluted share compared to $1.82 billion or $5.17 a share a year ago.

Domestic online revenue climbed 11%.and international revenue rose 2% to $4.16 billion. International gross profit rate dropped 23.4% from 25.5% last year.

Dominos Pizza, Inc (DPZ) slipped 41 cents to $47.21 after the pizza delivery company said total revenue in the fourth quarter ending in December jumped 8% to $539.7 million from $501.7 million in the same period of last year. Domestic same store sales grew 4.7%. Same store sale growth of increased 5.2%.

Net income in the quarter soared 22% to $37.6 million or 64 cents a diluted share compared to $30.9 million or 52 cents a share a year ago.

Hospitality Properties Trust (HPT) dropped 2.4% or 65 cents to $26.05 after the real estate investment trust said total revenue in the fourth quarter ending in December climbed 9% to $322.3 million from $295.9 million in the same period of last year. Net income in the quarter plunged 40% to $18.5 million or 15 cents a diluted share compared to $30.7 million or 25 cents a share a year ago earlier.

Salesforce.com, Inc (CRM) jumped 3.1% or $5.37 to $174.59 after the cloud computing service provider reported revenue in the fourth quarter ending in January surged 32% to $835 million from $632 million in the same period of last year. Net loss in the quarter widened to $20.8 million or 14 cents a diluted share compared to $4.1 million or 3 cents a share a year ago earlier.

Sothebys (BID) rose 10 cents to $38.33 after the auctioneer stated total revenue in the fourth quarter ending in December increased 2% to $291 million from $284 million in the same period of last year. Net income in the quarter dropped 7% to $66 million or 96 cents a diluted share compared to $71 million or $1.04 a share a year ago period.

The Gap, Inc (GPS) gained 1% or 33 cents to $33.25 after the specialty apparel retailer reported net sales in the fourth quarter ending on February 2 soared 11% to $4.73 billion from $4.28 billion in the same period of last year. Comparable sales rose 5%.

Net income in the quarter surged 61% to $351 million or 73 cents a diluted share compared to $218 million or 44 a share a year ago period.

The company expects diluted earnings per share to be in the range of $2.52 to $2.60 for fiscal year 2013, or an 8 to12 percent increase from the prior year.

Universal Health Services, Inc (UHS) slipped 1.9% or $1.13 to $56.76 after the healthcare facility provider stated total revenue in the fourth quarter ending in December increased 6% to $1.76 billion from $1.66 billion in the same period of last year. Net income in the quarter climbed 42% to $135.5 million or $1.39 a diluted share compared to$95.3 million or 98 cents a share a year ago period.

Excluding the favorable 13 cents a diluted share EHR impact, the company estimated net income per share attributable to UHS for 2013 between $4.35 and $4.50.

This guidance range represents an increase of approximately 5% to 8% over the adjusted net income attributable to UHS of $4.15 per diluted share for 2012.

During 2013, net revenues are estimated to increase approximately 6% to $7.41 billion, as compared to $6.96 billion in 2012.

Youku Tudou Inc (YOKU) declined 7.1% or $1.46 to $18.93 after the China based internet television service provide stated net revenues in the fourth quarter ending in December jumped 30% to $102.1 million from the same period of last year. Net loss in the quarter dropped 43% to $18.2 million or 11 cents a diluted share compared to a year ago period.

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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