12:45 PM New York City, New York – Destination Maternity net loss widened but the retailer reaffirmed fiscal outlook. Retailer Fred''s agreed to sell its pharmacy patient prescription business to Walgreens. Hovnanian Enterprises net loss narrowed. SAIC profit soared.
Tollbooth Index fell 57.56 or 0.4% to 16,289.59 but for the year-to-date soared 18.4%.
Destination Maternity Corporation
) jumped 3.7% or 16 cents to $4.47 after the maternity apparel and related accessories maker said net sales in the second-quarter ending on August 4 fell 1.9% from a year ago to $96.4 million.
Comparable sales in the quarter increased 1.2% and online sales soared 18.4%.
Net loss in the quarter widened to $4 million or 29 cents per diluted share from $2.8 million or 20 cents in the same quarter last year.
The retailer reaffirmed fiscal 2018 operating profit growth in the range of 30% to 45%.
) surged 64.5% or $1.05 to $2.69 after the pharmaceuticals, consumables, household goods retailer agreed to sell its pharmacy patient prescription files and related inventory of 185 stores located across 10 Southeastern states to Walgreens Boots Alliance Inc for about $165 million.
Hovnanian Enterprises Inc
) slid 0.04 cents to $1.54 after the residential construction reported total revenues in the third-quarter ending in July declined 22.9% from a year ago to $456.7 million.
Net loss in the quarter narrowed to $1 million or 1 cent per diluted share from $337.2 million or $2.28 in the same quarter last year.
) advanced 2.2% or 71 cents to $33.07 ahead of citrus fruits, especially lemons producer’s earnings results.
Science Applications International Corp
) plunged 8.7% or $7.81 to $82.05 after the technical, engineering and enterprise information technology services provider reported revenues in the second-quarter ending on August 3 jumped 3% from a year ago to $1.1 billion.
Net income in the quarter soared 36% to $49 million or $1.13 per diluted share from $36 million or 80 cents in the same quarter last year.
As of August 3, total backlog of signed business orders was about $10.5 billion.
Separately today, SAIC agreed to acquire engineering and logistics services provider Engility Holdings Inc for about $2.5 billion, including net debt of $900 million.
The transaction is expected to close in the fourth-quarter ending on February 1, 2019.
United Rentals Inc
) jumped 5.1% or $7.76 to $160.06 after the industrial and construction rental equipment provider today agreed to acquire BlueLine Rental in a cash deal valued at $2.1 billion from the private-equity firm Platinum Equity.
The transaction is expected to close in the fourth quarter of 2018.