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STOCK MOVERS

U.S. Movers: American Express, Ciena, Donaldson, Dollar General, Tech Data


Author: Mukesh Buch
ticker.com
Last Update: 2:24 AM ET June 01 2017

4:10 PM New York American Express reaffirmed fiscal earnings outlook. JBS agreed to pay $3.2 billion in fines to Brazilian regulators. Ciena soared. Donaldson lifted full-year outlook. Dollar General net declined. Tech Data net revenues soared 29%.

Tollbooth Index increased 40.34 or 0.3% to 12,262.68.

Earnings Review

American Express Company (AXP) rose 49 cents to $77.43 after the credit card services provider reaffirmed fiscal 2017 earnings per share between $5.60 and $5.80.

Separately, American Express was selected as the exclusive issuer for Hilton Honors co-branded credit cards issuer in the United States starting January 1, 2018.

However, there will be no immediate changes for existing U.S. cardholders and purchases made on existing co-branded credit cards that will continue to earn Hilton Honors Points.

JBS SA jumped 6.1% to BRL 8.56 after Brazil-based slaughter, cold storage and meat processor agreed to pay a record setting penalty of 10.3 billion real or $3.2 billion fine as its owners admitted in paying millions of dollars in bribes to 1,900 politicians that involved President Michel Temer.

Brazilian prosecutors gave the beleaguered company 25 years to make the payments, far lenient terms than originally expected.

CorVel Corporation (CRVL) increased 2.2% or $1.05 to $47.65 after the healthcare solutions provider stated revenues in the fourth-quarter ending in March advanced 4% from a year ago to $133.6 million.

Net income in the quarter jumped 19.4% to $8 million or 42 cents per diluted share from $6.7 million or 34 cents in the same quarter last year.

Ciena Corporation (CIEN) surged 14.7% or $3.45 to $26.93 after the network technology provider reported revenues in the second-quarter ending in April surged 10.3% from a year ago to $707 million.

Net income in the quarter soared 171.4% to $38 million or 25 cents per diluted share from $14 million or 10 cents in the same quarter last year.

In the third-quarter, Ciena estimated revenues in the range of $710 to $740 million and operating expense of about $235 million.

Donaldson Company, Inc (DCI) slumped 3.3% or $1.56 to $46.40 after the filtration systems maker said revenues in the third-quarter ending in April jumped 6.5% from a year ago to $608.2 million.

Net income in the quarter advanced 10% to $60.1 million or 45 cents per diluted share from $54.8 million or 41 cents in the same quarter last year.

Donaldson lifted full-year diluted earnings per share forecast in the range of $1.67 and $1.71 from the earlier estimated range of $1.60 to $1.68 and 6% increase in sales from 2016 compared to the previous guidance between 2% and 4%.

Dollar General Corp (DG) jumped 3.4% or $2.53 to $75.92 after the discount retailer reported net sales in the first-quarter ending on May 5 soared 6.5% from a year ago to $5.6 billion.

Same store sales in the quarter rose 0.7%.

Net income in the quarter declined 5.4% to $279 million or $1.02 per diluted share from $295 $1.03 million or 14 cents in the same quarter last year.

The discount retailer estimated fiscal 2018 net sales to increase between 5% and 7% and diluted earnings per share in the range of 4.25 to $4.50.

Semtech Corporation (SMTC) dropped 3.1% or $1.20 to $37 after the analog and mixed-signal devices maker said net sales in the first-quarter ending in April jumped 9.7% from a year ago to $143.8 million.

Net income in the quarter surged 71% to $11.8 million or 18 cents per diluted share from $6.9 million or 11 cents in the same quarter last year.

Semtech forecasted second-quarter net sales in the range of $147 million to $157 million and gross margin between 59.5% and 60.6% and diluted earnings per share in the range of 20 cents to 26 cents.

Tech Data Corp (TECD) advanced 3.5% or $3.40 to $100.37 after the technology products wholesale distributor stated net sales in the first-quarter ending in April increased 29% from a year ago to $7.7 billion.

Net income in the quarter plunged 8% to $30.7 million or 82 cents per diluted share from $33.4 million or 94 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