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STOCK MOVERS

U.S. Movers: Bob Evans, Ciena, Express, H&R Block, Tech Data, Urban Outfitters


Author: Mukesh Buch
ticker.com
Last Update: 2:54 AM ET March 08 2017

2:10 PM New York – Bob Evans lifted earnings forecast. Ciena net swung to profit. Express plunged on lowered fiscal outlook. H & R Block net loss widened. Children’s Place net doubled. Tech Data net tumbled 18%. Urban Outfitters net plunged.

Tollbooth Index edged up 4.24 to 11,602.96.

Earnings Review

Bob Evans Farms Inc (BOBE) jumped 2.4% or $1.36 to $58.10 after the full-service restaurant operator said net sales in the third-quarter ending on January 28 increased 4.5% from a year ago to $112.8 million.

Same store sales in the quarter dropped 2.6%.

Net income in the quarter declined 36.4% to $8.2 million or 41 cents per diluted share from $12.9 million or 62 cents per share in the same quarter last year.

The restaurant operator lifted fiscal 2017 diluted earnings per share estimate to between $2.22 and $2.32 from the earlier estimated range of $2.15 to $2.30.

Ciena Corporation (CIEN) declined 7.9% or $2.08 to $24.09 after the network services provider reported total revenues in the first-quarter ending in January jumped 8.4% from a year ago to $621.5 million.

Net in the quarter swung to profit $3.9 million or 3 cents per diluted share from a loss of $11.5 million or 8 cents per share in the same quarter last year.

Ciena forecasted second quarter 2017 revenues in the range of $680 million to $710 million.

Express, Inc (EXPR) plunged 13.3% or $1.42 to $9.25 after the specialty apparel and accessories retailer said net sales in the fourth-quarter ending on January 28 plummeted 11% from a year ago to $678.8 million.

Comparable store sales in the quarter declined 13% compared to 4% increase in the same period a year ago. Online sales jumped 9% to $170.1 million.

Net income in the quarter tumbled 59.4% to $22.8 million or 29 cents per diluted share from $56.1 million or 67 cents per share in the same quarter last year.

For fiscal 2017, the retailer lowered net income forecast in the range of $52 million to $58 million from $57.4 million in fiscal 2016 and diluted earnings per share to drop to between 65 cents and 73 cents from 73 cents in the same period a year ago.

H & R Block Inc (HRB) surged 15.2% or $3.16 to $24 after the tax preparation and accounting services provider reported in the third-quarter ending in December dropped 4.8% from a year ago to $451.9 million.

Net loss in the quarter widened to $104.5 million or 50 cents per diluted share from $81.7 million or 35 cents per share in the same quarter last year.

Children’s Place Inc (PLCE) soared 17.2% or $17.15 to $117.05 after the children specialty apparel retailer said net sales in the fourth-quarter ending on January 28 advanced 4.5% from a year ago to $520.8 million.

Comparable store sales in the quarter jumped 6.9%.

Net income in the quarter doubled to $34.2 million or $1.86 per diluted share from $17.5 million or 87 cents per share in the same quarter last year.

In fiscal 2017, the children specialty apparel retailer forecasted diluted earnings per share in the range of $6.50 to $6.65.

The retailer estimated first-quarter diluted earnings per share between $1.53 and $1.63.
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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