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2:10 PM New York City, New York – ADT net loss narrowed. Gannett net swung to profit and lifted fiscal outlook. Hospitality Properties beats earnings estimates. L Brands comparable sales in July were flat. Mylan net tumbled on weak revenues. Viacom net and revenues declined.
Tollbooth Index increased 55.89 or 0.4% to 16,023.10 but for the year-to-date soared 16.4%.
ADT Inc (ADT) declined 5.1% or 48 cents to $9 after the home and business monitoring services provider reported revenues in the second-quarter ending in June jumped 6% from a year ago to $1.1 billion.
Net loss in the quarter narrowed to $67 million or 9 cents per diluted share from $93 million or 14 cents in the same quarter last year.
Gannett Co., Inc (GCI) soared 7.5% or 76 cents to $10.86 after the local news publisher said total revenues in the second-quarter ending in June declined 5.6% from a year ago to $730.8 million.
Net in the quarter swung to profit $16.3 million or 14 cents per diluted share from a loss of $0.5 million or break even cents in the same quarter last year.
The news publisher lifted fiscal 2018 revenues forecast to between $2.95 billion and $3 billion from the earlier estimate of $2.93 billion and $3.03 billion and operating profit in the range of $337 million to $345 million.
Hospitality Properties Trust (HPT) slid 24 cents to $27.80 after the real estate developer stated total revenues in the second-quarter ending in June advanced 7.2% from a year ago to $611.9 million.
Net income in the quarter jumped 60.3% to $97.3 million or 59 cents per diluted share from $60.7 million or 37 cents in the same quarter last year.
L Brands, Inc (LB) gained 1.9% or 59 cents to $32.24 after the fashion retailer said net sales in the four weeks ending on August 4 soared 10.7% to $849.7 million and comparable sales in the month were flat.
The fashion retailer said net sales in the second-quarter jumped 7.7% to $5.6 billion and comparable sales in the quarter increased 3%.
The retailer forecasted diluted earnings per share toward the high end from the estimate of 30 cents to 35 cents.
Mylan NV (MYL) slumped 4% or $1.57 to $37.66 after the generic drug maker reported total revenues in the second-quarter ending in June declined 5% from a year ago to $2.8 billion.
Net income in the quarter tumbled 87% to $37.5 million or 7 cents per diluted share from $297 million or 55 cents in the same quarter last year.
Mylan forecasted fiscal 2018 total revenues in the range of $11.25 billion to $12.25 billion and diluted earnings per share to increase 4% or in the range of $4.55 to $4.90.
Revlon, Inc (REV) declined 8.1% or $1.30 to $14.70 after the cosmetics and products maker said net sales in the second-quarter ending in June slumped 6% from a year ago to $606.8 million.
Net loss in the quarter widened to $122.5 million or $2.32 per diluted share from $36.5 million or 70 cents in the same quarter last year.
Viacom Inc (VIAB) soared 5.7% or $1.63 to $30.25 after the media and cable network provider reported revenues in the third-quarter ending in June fell 4% from a year ago to $3.2 billion.
Net income in the quarter declined 23.6% to $522 million or $1.29 per diluted share from $683 million or $1.70 in the same quarter last year.
“Given the success of ‘Mission: Impossible - Fallout’, we expect September quarter to be the third consecutive quarter of profitability for Paramount,” said chief financial officer Wade Davis.