Earnings News: J.C. Penney Company, Inc. (JCP), The Home Depot, Inc. (HD), Best Buy Co., Inc. (BBY)

Earnings News: J.C. Penney Company, Inc. (JCP), The Home Depot, Inc. (HD), Best Buy Co., Inc. (BBY)

pJ.C. Penney Company, Inc. (NYSE: JCP) reported a bigger-than-expected second quarter loss of $1.17 a share on $2.66 billion in revenues, compared with estimates for a second quarter loss of $1.06 a share on $2.76 billion in revenue, according analysts polled by Reuters.ppHowever, the troubled retailer did say its store sales improved from the previous quarter, and sales trends had improved every month in the quarter, sending shares higher in pre-market trade.ppOn Tuesday, shares of J.C. Penney Company, Inc. fell 1.44 percent to $13.03 in morning trade.ppThe Home Depot, Inc. (NYSE: HD)said net earnings in the second quarter increased to $1.8 billion, or $1.24 a share, compared with $1.53 billion, or $1.01 a share, a year-ago. In addition, the world’s biggest home improvement retailer reported sales rose 9.5 percent to $22.5 billion, beating Wall Street estimates of $21.8 billion.ppHome Depot also raised its full-year guidance to $3.60 per share, up from the prior estimate of $3.52 per share.ppShares of The Home Depot, Inc. edged down 0.80 percent to $74.61.ppBest Buy Co., Inc. (NYSE: BBY) reported the company earned 32 cents a share, excluding special items, compared with analysts’ expectations of 12 cents for the quarter. Although sales fell 0.4 percent to $9.30 billion, the company still topped average Wall Street forecasts of $9.13 billion, according to Reuters.ppShares of Best Buy Co., Inc. jumped 9.89 percent to $33.77 in morning trade.ppAfter the bell on Tuesday, Analog Devices Inc. (NASDAQ: ADI) and Intuit Inc. (NASDAQ: INTU) are among notable companies reporting quarterly earnings results.ppThe Dow Jones industrial average gained 20.10 points, or 0.13 percent, to 15,030.84. The S&P 500 was up 5.46 points, or 0.34 percent, to 1,651.67. The Nasdaq Composite added 16.62 points, or 0.47 percent, to 3,605.95.


User: IBTimes

Views: 38

Uploaded: 2013-08-20

Duration: 01:12

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