6 Hot Stocks Buzzing: Urban Outfitters Drops 4%, Wal-Mart Disappoints, and Home Depot Edges Higher
Shares of Urban Outfitters Inc. (NASDAQ:URBN) are down more than 4% in early trading. On Monday, the company reported results for the third quarter. Net income for the apparel store fell to $50.7 million (33 cents per share), compared to $73.1 million (43 cents per share) a year earlier. This is a decline of 30.6% from the year earlier quarter. Shares of Gap Inc. (NYSE:GPS) are also down about 1%.
Investing Insights: Urban Outfitters Inc. Earnings Cheat Sheet: The Profit Streak Continues.
Wal-Mart (NYSE:WMT) shares are falling 1.4% after reporting third quarter earnings. Third quarter profits decreased 2.9%. Net income for Wal-Mart fell to $3.34 billion (97 cents per share), compared to $3.44 billion (95 cents per share) a year earlier. This is a decline of 2.7% from the year earlier quarter. Dig Deeper: Wal-Mart Stores Inc. Earnings Cheat Sheet: Streak of Four Straight Profit Rises Snapped.
TJX Companies Inc. (NYSE:TJX) is down nearly 2% early Tuesday. Net income for the department store rose to $406 million ($1.06 per share), compared to $372.3 million (92 cents per share) in the same quarter a year earlier. This marks a rise of 9% from the year earlier quarter.
Shares of Saks Inc. (NYSE:SKS) are edging higher after reporting its results for the third quarter. Net income for Saks Incorporated fell to $17.8 million (11 cents per share), compared to $36.3 million (20 cents per share) a year earlier. This is a decline of 51% from the year earlier quarter. The company has now topped analyst estimates for the last four quarters. It beat the mark by 3 cents in the second quarter, by one cent in the first quarter, and by 5 cents in the fourth quarter of the last fiscal year.
Home Depot Inc. (NYSE:HD) reported its results for the third quarter. Net income for Home Depot Inc. rose to $934 million (60 cents per share), compared to $834 million (51 cents per share) in the same quarter a year earlier. This marks a rise of 12% from the year earlier quarter. “Our third quarter was driven by strength in our core categories and storm-related sales as well as strong operating performance,” said Frank Blake , chairman & CEO. Shares are trading about .35% higher at the open.
Investing Insights: Home Depot Inc. Earnings Cheat Sheet: Double-Digit Growth Again.
Research in Motion (NASDAQ:RIMM) is jumped 2% after launching two new smartphones based on its BlackBerry 7 operating system. The WSJ reports, “The new phones are the latest in a batch of devices RIM has rolled out since August that run off its latest version of BlackBerry 7, its legacy BlackBerry operating system. The company is banking that sales of the new phones will tide it over until it launches its next-generation phone, powered by its new BBX operating system, next year.”