Late Radar Stocks: Limited Brands Declines 3.5%, Einhorn Quiet on Herbalife
Shares of Limited Brands Inc. (NYSE:LTD) fell 3.57 percent after the closing bell. The company reported that net income in the first-quarter declined 24.5 percent to $124.6 million (41 cents per share), compared to $165 million (50 cents per share) a year earlier. Revenues also fell 2.9 percent to $2.15 billion.
After closing more than 16 percent higher on Wednesday, shares of Herbalife Ltd. (NYSE:HLF) gained another 3 percent in late trading. David Einhorn, founder of Greenlight Capital, gave a presentation today that failed to mention the multi-level marketing company. Speculation had been building that Herbalife was Einhorn’s next great short after he raised questions on an earnings conference call. However, Einhorn did speak favorable on Apple Inc. (NASDAQ:AAPL).
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Dick’s Sporting Goods Inc. (NYSE:DKS) shares continued to edge lower in extended trading. Einhorn made negative comments about the sports retailer and said it may see its business erode as Amazon (NASDAQ:AMZN) takes market share in the sector.
JC Penney Co. (NYSE:JCP) shares managed to halt the bleeding in after-hours trading, after plummeting almost 20 percent on Wednesday. The retailer recently reported a loss of $163 million (75 cents per share) in the first-quarter, compared to a net income of $64 million (28 cents per share) a year earlier. Revenues also declined 20.1 percent to $3.15 billion from a year earlier.
Jack In The Box Inc. (NASDAQ:JACK) shares jumped 3.47 percent after the closing bell. The quick-service restaurant announced that net income in the fiscal second-quarter increased to $21.6 million (48 cents per share), compared to only $6.8 million (13 cents per share) a year earlier. Linda A. Lang, chairman and chief executive officer, said, “Jack in the Box company same-store sales increased 5.6 percent in the second quarter, driven by a combination of traffic growth and an increase in average check. We believe these results have been largely driven by the investments we have made to enhance the entire guest experience at the Jack in the Box brand, including the substantial completion of our system-wide re-image program in January.”
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