2:10 PM New York – Exfo net soared 83%. GM lifted earnings forecast and will buy back additional shares worth about $5 billion. MSC Industrial net and revenues fell. Supervalu net swung to a loss. SYNNEX net surged 37%. Wal-Mart will eliminate more jobs before the end of January.
Tollbooth Index gained 18.28 or 0.2% to 11,326.42.
) jumped 5.2% or 24 cents to $4.84 after the Canada-based communications service provider said revenues in the first-quarter ending in November advanced 11.9% from a year ago to $61.8 million.
Net income in the quarter soared 83.3% to $3.3 million or 6 cents per diluted share compared to the $1.8 million or 3 cents per share in the same quarter last year.
General Motors Company
) gained 1.2% or 45 cents to $37.77 after the automaker lifted fiscal 2017 diluted earnings per share forecast in the range $6 of $6.50 from its estimated range for fiscal 2016 between $5.50 and $6.
GM said it generate about $6 billion of automotive-adjusted free cash flow and will buy back additional shares worth $5 billion and the board authorized to buy back additional $14 billion.
The automaker is scheduled to release its quarterly result on February 7.
MSC Industrial Direct Co Inc
) surged 7.4% or $6.85 to $99.02 after the maintenance and repairing services provider reported revenues in the first-quarter ending on December 3 dropped 2.9% from a year ago to $686.3 million.
Net income in the quarter fell 1.7% to $54.1 million or 95 cents per diluted share compared to the $55 million or 89 cents per share in the same quarter last year.
The maintenance services provider forecasted net sales in the second-quarter between $688 million and $701 million and diluted earnings per share in the range of 86 cents to 90 cents.
) slid 13 cents to $20.96 after the agribusiness and real estate developer stated total revenues sales in the third-quarter ending in October jumped 37.3% from a year ago to $19.5 million.
Net in the quarter swung to a loss of $0.1 million or 1 cent per diluted share compared to the profit $0.5 million or 4 cents per share in the same quarter last year.
) plunged 7.6% or 36 cents to $4.43 after the grocery retailer and distributor said total net sales in the third-quarter ending on December 3 fell 1.4% from a year ago to $3 billion.
Same-store sales in the quarter declined 5.7%.
Net in the quarter swung to a loss of $26 million or 10 cents per diluted share compared to the profit $34 million or 13 cents per share in the same quarter last year.
) gained 1.8% or $2.21 to $124.10 after the computer peripherals provider said revenues in the fourth-quarter ending in November jumped 9.5% from a year ago to $3.9 billion.
Net income in the quarter surged 37.3% to $85.3 million or $2.13 per diluted share compared to the $62.2 million or $1.56 per share in the same quarter last year.
In the fiscal first quarter, SYNNEX forecasted revenues in the range of $3.40 billion to $3.60 billion and net income in the range of $52.6 million to $55.8 million and diluted earnings per share in the range of $1.31 to $1.39
Wal-Mart Stores, Inc
) rose 7 cents to $68.30 after the supermarket stores operator said that it will eliminate about 1,000 jobs before the end of January from its headquarters and regional offices.
In September 2016, Wal-Mart said it plans to eliminate about 7,000 back-office jobs in accounting and invoicing positions and invest $2.7 billion to raise employees’ wages and provide additional training in fiscal 2017.