12:20 PM New York – BlackBerry net loss widened on 47% decline in revenues but the mobile phone maker lifted adjusted profit outlook. CarMax net jumped. Darden net surged 84%. FactSet profit tumbled 33%. General Mills net plunged 9%. Praxair and Linde agreed to merge. Rite Aid agrees to sell stores to Fred’s.
Tollbooth Index rose 18 or 0.2% to 11,289.14.
) gained 1.8% or 14 cents to $7.85 after Canada-based mobile communication services provider said revenues in the third-quarter ending in November plunged 47.3% from a year ago to $289 million.
Net loss in the quarter widened to $117 million or 22 cents per diluted share compared to $89 million or 17 cents per share from the same quarter a year ago.
BlackBerry said net loss narrowed compared to the previous quarter loss of $372 million.
The mobile services provider lifted adjusted profit forecast in the fiscal year from the prior estimated range of breakeven to a loss of 5 cent.
) slid 3 cents to $62.36 after the used vehicles retailer reported revenues in the third-quarter ending in November rose 4.4% from a year ago to $3.7 billion.
Used unit sales at comparable stores advanced 5.4% and total used unit sales rose 9.1% while total wholesale unit sales declined 2.2%.
Net income in the quarter jumped 6.6% to $136.6 million or 72 cents per diluted share compared to the $128.2 million or 63 cents per share from the same quarter last year.
Darden Restaurants, Inc
) increased 1.2% or 91 cents to $76.59 after the full-service restaurant operator said revenues in the second-quarter ending on November 27 gained 1.9% from a year ago to $1.64 billion.
Same restaurant sales in the quarter jumped 2.6% and 2.1% increase in the month of November.
Net income in the quarter surged 84% to $79.5 million or 64 cents per diluted share compared to the $43.2 million or 33 cents per share from the same quarter last year.
The restaurant operator reaffirmed diluted net earnings per share in the fiscal year in the range of $3.87 to $3.97 and same-restaurant sales to grow between 1% and 2%.
FactSet Research Systems Inc
) slumped 2.5% or $4.18 to $161.15 after the financial and data analytical services provider revenues in the first-quarter ending in November soared 6.5% from a year ago to $288.1 million.
Net income in the quarter tumbled 33.3% to $66.6 million or $1.66 per diluted share compared to the $60 million or $1.43 per share from the same quarter last year.
FactSet estimated revenues in the second-quarter between $293 million and $298 million and operating margin in the range of 31% to 32% and diluted earnings per share in the range of $1.70 and $1.74.
General Mills, Inc
) dropped 3.1% or $1.96 to $61.10 after the branded consumer foods maker said revenues in the second-quarter ending on November 27 declined 7.1% from a year ago to $4.1 billion.
Net income in the quarter plunged 9% to $481.8 million or 80 cents per diluted share compared to the $529.5 million or 87 cents per share from the same quarter last year.
General Mills lowered net sales growth forecast in the fiscal 2017 between 3% and 4% from the previous range of flat to a 2% decline but said diluted earnings per share is expected to grow in the range of 6% to 8% from $2.92 in fiscal 2016.
Navistar International Corp
) slipped 1.9% or 56 cents to $29.13 after the heavy machinery and vehicles maker stated revenues in the fourth-quarter ending in October plummeted 17% from a year ago to $2.1 billion.
Net loss in the quarter narrowed to $34 million or 42 cents per diluted share compared to the $50 million or 61 cents per share from the same quarter last year.
The trucks, buses and military vehicles maker said despite costs and expenses fell by 17% from a year earlier, truck sales in the quarter declined 20% to $1.4 billion and parts revenue dropped 5.5% to $613 million.
Navistar said retail deliveries in 2017 of class 6-8 trucks and buses in the United States and Canada are estimated in the range of 305,000 units to 335,000 units but revenue are likely to match in the year 2016.
) declined 4.5% or $5.50 to $117.50 after the industrial gas supplier and Germany-based rival Linde AG agreed to merge for about $65 billion.
The groups said transaction is “expected to create considerable value resulting in approx $1 billion or €0.9 billion in annual synergies.”
""We consider this to be a true strategic merger” and “creating a unique and compelling opportunity for all of our stakeholders,"" chairman and chief executive officer Steve Angel of Praxair said.
The Valspar Corp
) fell 46 cents to $103.18 after the coatings and paints products maker reported revenues in the fourth-quarter ending on October 28 slumped 4% from a year ago to $1.1 billion.
Net income in the quarter rose 1% to $103.6 million or $1.27 per diluted share compared to the $102.4 million or $1.26 per share from the same quarter last year.
Walgreens Boots Alliance
) rose 15 cents to $86.21 after the drugs retailer said the rival Rite Aid Corporation agreed to sell 865 stores of Rite Aid and certain related assets to the small rival Fred’s, Inc for about $950 million in cash.
Walgreen said the company is in talks with the regulator FTC and expects the merger with Rite Aid to close in the early 2017.