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STOCK MOVERS

U.S. Movers: American Eagle, Best Buy, Dollar Tree, Icahn Entp, Salesforce.com


Author: Mukesh Buch
ticker.com
Last Update: 3:32 AM ET March 01 2017

12:30 PM New York – American Eagle net declined 33%. Best Buy lowered fiscal earnings outlook. Dollar Tree net surged 41%. Donaldson lifted full-year forecast. Lowe''''s reports broad strength in business. Tribune Media net swung to profit. Salesforce net loss widened.

Tollbooth Index jumped 111.63 or 0.9% to 11,748.97.

Earnings Review

American Eagle Outfitters (AEO) plunged 10% or $1.59 to $14.26 after the specialty retailer said total revenues in the second-quarter ending in December slid 1% from a year ago to $1.1 billion.

Same store sales in the quarter edged up “slightly” compared to 4% increase in the quarter a year ago.

Net income in the quarter declined 33.2% to $54.6 million or 30 cents per diluted share from $81.7 million or 42 cents per share in the same quarter last year.

Best Buy Co Inc (BBY) declined 4.8% or $1.66 to $42.47 after the technology products and consumer appliance retailer said revenues in the fourth-quarter ending in December fell 1% from a year ago to $13.5 billion.

Comparable store sales in the quarter decreased 0.9% but comparable online sales jumped 17.5%.

Net income in the quarter soared 26.7% to $607 million or $1.91 per diluted share from $479 million or $1.40 per share in the same quarter last year.

The retailer lowered earnings per share in fiscal 2017 first-quarter in the range of 35 cents to 40 cents, lower than the consensus estimate of 49 cents and revenues in the range of $8.2 billion to $8.3 billion.

Comparable sales are estimated to fall between 1% and 2%.

Dollar Tree, Inc (DLTR) jumped 3.9% or $3.03 to $79.75 after the discount retailer said sales in the fourth-quarter ending in December soared 5% from a year ago to $5.6 billion.

Same store sales in the quarter in the Dollar Tree chain rose 2.3% and same store sales in the Family Dollar chain increased 0.2%.

Net income in the quarter surged 40.5% to $321.8 million or $1.36 per diluted share from $ 229 million or $1.40 per share in the same quarter last year.

The retailer forecasted net sales in the fiscal first-quarter of 2017 in the range of $5.26 billion to $5.35 billion, based on a flat to low single-digit increase in same-store sales and diluted earnings per share in the range of 91 cents to 98 cents.

In fiscal 2017, net sales estimated between $21.94 billion to $22.33 billion, based on a flat to low single-digit increase in same-store sales and diluted earnings per share to range from $4.20 to $4.56.

The discount retailer said guidance included 53rd week, an extra week compared to a year ago, in the fourth quarter that is expected to add $400 million to $430 million to sales and 19 cents to 22 cents in earnings per diluted share.

Donaldson Company, Inc (DCI) surged 10.1% or $4.33 to $47.28 after the filtration systems maker said sales in the second-quarter ending in December jumped 6.4% from a year ago to $550.6 million.

Net income in the quarter soared 22.4% to $46.5 million or 35 cents per diluted share from $38 million or 28 cents per share in the same quarter last year.

Donaldson lifted full-year 2017 diluted earnings per share forecast between $1.60 and $1.68 from the earlier estimated range of $1.50 to $1.66 and sales are expected to increase from 2016 between 2% and 4% from prior guidance range between 2% fall and 2%.

Icahn Enterprises LP (IEP) fell 1.7% or 94 cents to $55.30 after the diversified investor stated revenues in the fourth-quarter ending in December surged 52.7% from a year ago to $3.9 billion.
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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