2:00 PM New York – Investors were lukewarm to the launch of the widely anticipated next generation of Apple iPhones and smartwatch. Barnes & Noble said quarterly sales were flat. Hooker Furniture net soared. Hewlett Packard Enterprise spin-off its non-core software assets to Micro Focus. Liberty Media agreed to buy Formula One.
Tollbooth Index decreased 56.01 or 0.5% to 11,040.55.
) slipped 2.3% or $2.51 to $105.85 after the electronic devices maker today launched iPhone 7 and iPhone 7 Plus with a faster processor, with high-resolution dual cameras and no headphone jack.
Apple said its Apple Watch Series 2 with swim-proof casing will be launch in more than 25 countries and new phone will also available in major markets including the U. S. and China from September 16.
The highly anticipated launch of new phone from the company received lukewarm response from customers and financial analysts.
Barnes & Noble, Inc
) slumped 4.1% or 51 cents to $11.85 after the book retailer said revenues in the first-quarter ending in July edged up 0.1% from a year ago at $239.2 million.
Comparable store sales in the quarter decreased 2.8%.
Net loss in the quarter widened to $27.9 million or 60 cents per diluted share compared to the $26.9 million or 65 cents per share from the same quarter last year.
In the year, the retailer reaffirmed total sales to grow between 2% and 4% and comparable store sales to range between flat and 2% lower than in the prior year.
Donaldson Company, Inc
) fell 10 cents to $37.21 after the filtration systems provider said net sales in the fourth-quarter ending in July slumped 2.8% from a year ago at $593.8 million.
Net income in the quarter jumped 5.5% to $59.5 million or 44 cents per diluted share compared to the $56.4 million or 41 cents per share from the same quarter last year.
Hooker Furniture Corporation
) surged 12% or $2.92 to $27.27 after the home furnishings provider said net sales in the second-quarter ending in July soared 126.6% from a year ago at $136.2 million.
Net income in the quarter surged 35.9% to $5.3 million or 46 cents per diluted share compared to the $3.9 million or 36 cents per share from the same quarter last year.
Hewlett Packard Enterprise Co
) dropped 2.1% or 46 cents to $21.63 after the software and information technology provider spin off its non-core software assets in a deal with the U.K.-based Micro Focus International Plc for about $8.8 billion or £6.6 billion.
HPE said it will receive $2.5 billion in cash and shareholders will hold 50.1% stake in the new combined company.
The transaction requires antitrust approval and expected to close in the third-quarter.
Separately Hewlett-Packard reported revenues in the third-quarter ending in July fell 6% from a year ago at $12.21 billion.
Net income in the quarter soared to $2.27 billion or $1.32 per diluted share compared to the $320 million or 18 cents per share from the same quarter last year.
The information technology provider said hefty gain in profit was mainly due to one-time asset sale.
HPE forecasted annual diluted earnings per share between $1.90 and $1.95.