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STOCK MOVERS

U.S. Movers: AZZ, Fiat Chrysler, Ford, GM, Intuit, Lennar, Paychex


Author: Mukesh Buch
ticker.com
Last Update: 1:37 PM EDT October 03 2017

1:35 PM New York - Fiat Chrysler September sales declined 10%, Ford sales jumped 8.7% and GM sales soared 12%. Intuit reaffirmed fiscal 2018 outlook. Lennar net and sales soared. Paychex lifted fiscal outlook. Park Electrochemical net tumbled.

Tollbooth Index rose 11.94 to 12,677.12.

Earnings Review

AZZ Inc (AZZ) slumped 2.1% or $1.05 to $49.15 after the electrical equipment and engineered services provider said revenues in the second-quarter ending in August fell 2.4% from a year ago to $190.4 million.

Net income in the quarter plunged 16.9% to $8.3 million or 32 cents per diluted share from $10 million or 38 cents in the same quarter last year.

Fiat Chrysler Automobiles NV (FCAU) slid 6 cents to $17.89 after the vehicle maker said U.S. auto sales in September declined 10% to 174,266 vehicles compared to 192,883 vehicles in a year ago month and retail sales rose 0.3% to 146,904 vehicles while fleet sales tumbled 41% to 27,362 vehicles.

Jeep brand sales in the month dropped 4% to 73,409 vehicles and Chrysler brand sales plunged 16% to 15,759 vehicles. Dodge brand sales tumbled 30% to 29,938 vehicles. Wrangler jumped 10% to 15,714 vehicles.

Fiat brand sales plummeted 24% to 2,206 vehicles while RAM pickup vehicles sales fell 1% to 47,142 vehicles.

Ford Motor Company (F) advanced 2.3% or 27 cents to $12.36 after the automaker reported total U.S. sales in September jumped 8.7% to 222,248 units and retail sales were advanced 4.4% to 169,544 units.

Passenger car sales in the month slipped 1.3% to 49,918 units while fleet sales surged 25.1% to 52,704 units while trucks sales soared 19.9% to 103,625 units while Lincoln brand unit sales rose 0.1% to 8,802 units.

Ford Escape sales in the month grew 2% to 25,575 units but F-Series truck retail sales soared 21.4% to 82,302 units from a year ago month. Sales in Ford SUVs grew 1% to 62,803 units.

Fusion sales increased 3.3% to 21,253 units and Focus sales jumped 5.3% to 11,751 units. Mustang sales declined 9.1% to 5,847 vehicles. Ford Explorer sales surged 13.4% to 18,898.

Fordís average transaction prices increased $2,300 from a year ago on strong demand for high-series trucks.

General Motors Company (GM) increased 2.9% or $1.22 to $43.37 after the automaker reported total sales in September soared 12% to 279,397 vehicles and retail sales in the month jumped 8.1% to 221,075 vehicles.

GM said September sales in Chevrolet segment surged 17.4% to 199,801 units while sales in Cadillac unit rose 1.1% to 15,530 units while sales in Buick segment slumped 5.9% to 159,830 units from a year ago month.

The Kelley Blue Book said average transaction prices were $38,851, up 0.2% month over month but down 3.1% year over year.

Intuit Inc (INTU) rose 32 cents to $142.06 after the business and financial software developer reaffirmed fiscal 2018 revenues forecast in the range of $5.64 billion to $5.74 billion, growth of 9% to 11% and operating income in the range of $1.49 billion to $1.54 billion, increase of 6% to 10% and diluted earnings per share between $4 and $4.10.

Lennar Corporation (LEN) increased 2.5% or $1.33 to $54.13 after the home builder reported revenues in the third-quarter ending in August soared 15% from a year ago to $3.3 billion.

Net income in the quarter jumped 5.7% to $249.2 million or $1.06 per diluted share from $235.8 million or $1.01 in the same quarter last year.

The home builder said total deliveries in the quarter surged 12% to 7,598 homes and as of August 31, total backlog jumped 10% to 10,212 homes and backlog in dollar value soared 18% to $4.1 billion.

Paychex, Inc (PAYX) jumped 4.1% or $2.41 to $62.22 after the outsourcing services provider reported revenues in the first-quarter ending in August advanced 4% from a year ago to $816.8 million.

Net income in the quarter increased 5% to $227.8 million or 63 cents per diluted share from $217.4 million or 60 cents in the same quarter last year.

Paychex revised higher fiscal 2018 revenues in the Human Resource Services segment to jump between 12% and 14% and total revenues to increase about 6% and operating profit to soar in the range of 39% to 40%.

Park Electrochemical Corp (PKE) gained 1.9% or 37 cents to $19.22 after the integrated circuits maker stated revenues in the second-quarter ending on August 27 rose 2.4% from a year ago to $29.8 million.

Net income in the quarter tumbled 73.7% to $0.5 million or 3 cents per diluted share from $2 million or 10 cents in the same quarter last year.
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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