Shares of Carnival Corporation (NYSE: CCL) fell about 4.30% by afternoon trade after the cruise company late on Monday downwardly revised its full-year outlook. Higher costs, current pricing strategy has resulted in more-than-expected dip in revenue yields, the Company said. Besides, higher-than-expected number of voyage cancellations is also expected to weigh on the top line. Carnival Corp now expects earnings of $1.45 to $1.65 a share down from its initial guidance of $1.80 to $2.10 a share. Revenue yields are expected to drop between 2% and 3% compared to original forecast of flat revenue yields.
Shares of Medtronic Inc. (NYSE: MDT) gained about 5.15% by afternoon trade. Although the medical device maker reported a 2.2% dip in fiscal fourth-quarter profits on Tuesday, non-GAAP earnings and revenue edged past Street’s estimate. For the fiscal fourth quarter, Medtronic reported net income of $969 million or 95 cents a share compared to a profit of $991 million or 94 cents a share, in the same quarter of last year. Stripping out onetime items, Medtronic reported adjusted earnings of $1.10 a share, 7 cents above Street’s consensus estimate. Revenue rose 4% to $4.46 billion, in the fiscal fourth quarter while analysts’ consensus estimate was for $4.38 billion. Sales in international market were particularly impressive. Excluding the impact of currency fluctuation, international sales rose 7% while in emerging market it climbed 14% to $521 million.
Shares of TiVo Inc. (NASDAQ: TIVO) jumped about 3.80% by midday trade after the set top boxes maker, late last evening said that it narrowed its fiscal first quarter loss as revenue and subscribers base showed solid growth.
Saks Inc. (NYSE: SKS) rallied about 8.70% by afternoon trade. Although the high-end retailer reported on Tuesday that fiscal first quarter net income plunged 38% due to onetime charges linked to store closure and debt extinguishment, comparable-store-sales showed strong growth which helped driving up the overall sales. For the fiscal fourth quarter ended May 4, Saks reported a net income of $20 million or 13 cents a share compared to a net income of $32.1 million or 18 cents a share. In the recently concluded quarter, the Company took a onetime charge of $2.3 million (store-closing costs) and $7.8 million (debt extinguishment). Stripping out onetime items, non-GAAP earnings stood at 19 cents a share, in line with analysts’ consensus estimate. Sales rose 5.3% to $793.20 million from $753.61 million, in the year-earlier quarter, beating analysts’ consensus estimate of $778.53 million.
Shares of Urban Outfitters Inc. (NASDAQ: URBN) fell about 2.60% by afternoon trade. Despite fiscal first quarter profit jumped 39%, driven by stronger margins and higher revenue, investors were disappointed as revenue fell short of consensus expectation. The apparel retailer late last evening reported a profit of $47.1 million or 32 cents for the fiscal first quarter ended April 30 up from $34 million or 23 cents a share, in the same quarter of last year.
Revenue rose 14% to $648.2 million. Analysts surveyed by Thomson Reuters were expecting earnings of 29 cents a share on revenue of $655.08 million. Same-store-sales climbed 9% in the fiscal first quarter.
Recent Comments