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STOCK MOVERS

U.S. Movers: Cisco, Children's Place, Dillard's, JC Penney, Teekay, Walmart


Author: Mukesh Buch
ticker.com
Last Update: 12:39 PM EDT May 17 2018

12:30 PM New York City, New York Ė Cisco reported better-than-expected results. Children''s Place declined after profit plunged. Dillard''s profit and revenues beat estimates. JC Penney tumbled despite net loss narrowed. Walmart online sales surge and sales international markets advances.

Tollbooth Index increased 26.13 or 0.2% to 15,227.68 and for the year-to-date jumped 10.6%.

Earnings Review

Cisco Systems, Inc (CSCO) fell 2.9% or $1.33 to $43.84 after the networking hardware and systems maker reported revenues in the third-quarter ending in March jumped 4% from a year ago to $12.5 billion.

Net income in the quarter soared 7% to $2.7 billion or 56 cents per diluted share from $2.5 billion or 50 cents in the same quarter last year.

Cisco forecasted fiscal 2018 revenues growth between 4% and 6% and operating margin in the range of 29.5% to 30.5% and diluted earnings per share in the range of 68 cents to 70 cents.

The Children''s Place Inc (PLCE) plunged 8.4% or $11.65 to $126.35 after the specialty retailer said net sales in the first-quarter ending on May 5 slid 0.1% from a year ago to $436.3 million.

Comparable retail sales in the quarter decreased 1.8%.

Net income in the quarter tumbled 12.9% to $31.5 million or $1.78 per diluted share from $36.2 million or $1.97 in the same quarter last year.

The retailer reaffirmed fiscal 2018 diluted earnings per share in the range of $7.95 to $8.20 and net sales in the range of $1.92 billion to $1.94 billion and comparable sales growth to increase between 3.5% and 4.5%.

Dillard Inc (DDS) soared 8.1% or $5.80 to $77.80 after the apparel, cosmetics and home furnishings retailer reported net sales in the first-quarter ending on May 5 advanced 2.8% from a year ago to $1.5 billion.

Comparable retail sales in the quarter increased 2%.

Net income in the quarter surged 21.4% to $80.5 million or $2.89 per diluted share from $66.3 million or $2.12 in the same quarter last year.

J. C. Penney Company, Inc (JCP) tumbled 10.8% or 33 cents to $2.74 after the department stores operator reported net sales in the first-quarter ending on May 5 declined 4.3% from a year ago to $2.6 billion.

Comparable retail sales in the quarter rose 0.2%.

Net loss in the quarter narrowed to $78 million or 25 cents per diluted share from $187 million or 60 cents in the same quarter last year.

The retailer said declined in revenues was driven by closing of 141 stores in the second and third quarters of fiscal 2017 but Jewelry, Sephora, Men''s and Salon were the top performing divisions and geographically, the Gulf Coast and Southeast were the best performing regions.

Teekay Corporation (TK) plummeted 8.4% or 76 cents to $8.24 after the oil and gas marine transportation services provider said revenues in the first-quarter ending in March tumbled 27.5% from a year ago to $394 million.

Net loss in the quarter narrowed to $20.6 million or 19 cents per diluted share from $45.3 million or 41 cents in the same quarter last year.

Walmart Inc (WMT) slumped 1.3% or $1.1 to $85.04 after the department store operator reported net sales in the first-quarter ending on May 5 advanced 4.4% from a year ago to $122.7 billion.

Walmart U.S. comparable store sales in the quarter increased 2.1% and comparable traffic rose 0.8% and Samís Club comparable sales jumped 3.8% and e-commerce sales soared 33%.

Net income in the quarter tumbled 29.8% to $2.1 billion or 72 cents per diluted share from $3 billion or $1 in the same quarter last year.

Net sales in Walmart International soared 11.7% to $30.3 billion and the retailer said eight of eleven markets posted positive comparable sales.
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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