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STOCK MOVERS

U.S. Movers: Conn's, Chase Corp, Smucker, Lamb Weston, Monsanto, RPM Intíl


Author: Mukesh Buch
ticker.com
Last Update: 12:28 PM EDT April 05 2018

12:20 PM New York City, New York Ė Conn's tumbled on weak outlook. Chase Corp said net and revenues surged. Smucker agreed to acquire Ainsworth Pet Nutrition for $1.7 billion. Lamb Weston profit surged 86% on 12% jump in revenues. Monsanto results disappointed. RPM International net jumped.

Tollbooth Index soared 283.96 or 2% to 14,659.04 and for the year surged 6.5%.

Earnings Review

Conn's Inc (CONN) tumbled 15.6% or $5.60 to $30.25 after the specialty retailer said total net sales in the fourth-quarter ending in January dropped 6% from a year ago to $334.5 million.

Same store sales in the quarter declined 8%.

Net in the quarter swung to profit $3.2 million or 10 cents per diluted share from a loss of $0.1 million or break even in the same quarter last year.

In the first quarter, the home furnishings and consumer electronics retailer forecasted same store sales to decline between 3% and 5%.

Chase Corporation (CCF) increased 1.9% or $2.05 to $113 after the industrial products provider reported revenues in the second-quarter ending in February surged 15% from a year ago to $65.9 million.

Net income in the quarter soared 21% to $10.1 million or $1.07 per diluted share from $8.4 million or 89 cents in the same quarter last year.

J.M. Smucker Company (SJM) fell 18 cents to $123.53 after the consumer food, beverage and pet food products maker agreed to acquire Ainsworth Pet Nutrition, LLC for about $1.7 billion including an estimated tax benefit of $200 million.

The transaction is expected to close on May 1, 2018.

Lamb Weston Holdings Inc (LW) jumped 2.1% or $1.25 to $60.68 after the frozen potato products producer and distributor reported net sales in the third-quarter ending on February 25 jumped 12% from a year ago to $863 million.

Net income in the quarter surged 86% to $156.8 million or $1.06 per diluted share from $84.2 million or 57 cents in the same quarter last year.

Monsanto Company (MON) gained 99 cents to $117.20 after the fertilizer products maker reported net sales in the second-quarter ending in February fell 1% from a year ago to $5 billion.

Net income in the quarter jumped 8.9% to $1.5 billion or $3.27 per diluted share from $1.4 billion or $3.09 in the same quarter last year.

Monsanto forecasted fiscal 2018 research and development expenses to slightly drop and pre-tax income to grow on a stand-alone basis.

RPM International Inc (RPM) rose 23 cents to $47.89 after the paints, coatings, and adhesives maker said net sales in the third-quarter ending in February soared 7.8% from a year ago to $1.1 billion.

Net income in the quarter jumped to $40.2 million or 30 cents per diluted share from $11.9 million or 9 cents in the same quarter last year.

RPM said revenues in the industrial segment surged 9.2% to $569.2 million and revenues in the consumer segment advanced 6.4% to $363.4 million from a year ago period.

The paints maker lifted fiscal 2018 diluted earnings per share forecast in the range of $3.05 to $3.10 from the earlier estimate of $3 to $3.10, reflecting strong top-line sales and double-digit operating profit growth.
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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