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2:10 PM New York Adobe revenues surged as corporate demand for creative cloud services jump. Caleres plunged after net swung to a loss and on weak sales forecast. Omeros net loss narrowed. MannKind net swung to profit. Tiffany net fell 3% and offered soft outlook.
Tollbooth Index rose 23.12 or 0.2% to 11,687.28.
Adobe Systems Inc (ADBE) soared 5.6% or $6.88 to $129.23 after the application software developers said total revenues in the first-quarter ending on March 3 surged 21.7% from a year ago to $1.7 billion.
Net income in the quarter soared 56.7% to $398.4 million or 80 cents per diluted share from $254.3 million or 50 cents in the same quarter last year.
Digital Media segment revenue was $1.14 billion, with record creative revenue growing to $942 million. Adobe Marketing cloud achieved record revenue of $477 million.
In first-quarter, Adobe achieved record revenue, profit and cash flow, Mark Garrett executive vice president and chief financial officer said.
Caleres Inc, formerly Brown Shoe Company, Inc (CAL) plunged 12.6% or $4 to $27.65 after the footwear retailer and wholesaler in the fourth-quarter ending on January 28jumped 5.1% from a year ago to $639.5 million.
Same store sales in the quarter increased 0.3%.
Net in the quarter swung to a loss of $6.6 million or 16 cents per diluted share from profit of $11.4 million or 26 cents in the same quarter last year.
Caleres estimated net sales in the fiscal 2017 between $2.7 billion and $2.8 billion and diluted earnings per share in the range of $2.10 to $2.20.
Omeros Corporation (OMER) slipped 1.2% or 14 cents to $11.46 after the drug maker stated revenues in the fourth-quarter ending in December doubled from a year ago to $12.9 million.
Net loss in the quarter narrowed to $19.6 million or 45 cents per diluted share from $19.8 million or 52 cents in the same quarter last year.
MannKind Corporation (MNKD) advanced 2.4% or 5 cents to $2.12 after the therapeutic products maker said revenues in the fourth-quarter ending in December were $12.9 million. (The company had not provide comparable revenues for the same period a year ago).
Net in the quarter swung to profit $53.9 million or 56 cents per diluted share from a loss of $277 million or $3.30 per share in the same quarter last year.
Tiffany & Co (TIF) jumped 3.4% or $3.03 to $93.01 after the jewelry and watch retailer reported net sales in the fourth-quarter ending in January increased 1% from a year ago to $1.2 billion.
Comparable store sales in the quarter unchanged.
Net income in the quarter fell 3.1% to $157.8 million or $1.26 per diluted share from $163.2 million or $1.28 in the same quarter last year.
In the quarter, Tiffany said total sales in the America fell 3% to $587 million and comparable store sales slid 2%. In Europe, total sales slumped 7% to $146 million and comparable store sales dropped 9% but total sales in Japan soared 15% to $185 million and comparable store sales jumped 19%.
In fiscal 2017, the retailer forecasted net sales to increase by a low-single to mid-single-digit percentage and diluted earnings per share to increase by high-single to mid-single-digit-percentage from fiscal 2016.