With third quarter earnings season entering its late phase, there are some companies of note in the past 24 hours who have reported. We take a quick look at results and check to see how the stocks are performing:
Starbucks Meets, Doesn't Beat
Typically solid sales and income growth for Starbucks Corporation (SBUX) of 21.84% and 35.12%, respectively, equated to the expected 21 cents per share in the company's earnings report released late yesterday. Using the Zacks Price Response Indicator (PRI), we expect a 0.42% price increase in the 10 days following the EPS earnings report, but the market has not treated the news kindly. SBUX shares are down seven-and-three-quarters percent in morning trading.
In addition to sales through our company-operated retail stores, Starbucks sells whole bean coffees through a specialty sales group and supermarkets. Additionally, Starbucks produces and sells bottled Frappuccino coffee drinks and a line of premium ice creams through its joint venture partnerships and offers a line of innovative premium teas produced by its wholly owned subsidiary, Tazo Tea Company. The Company plans to continue to rapidly expand its retail operations, grow its specialty sales and other operations, and selectively pursue opportunities to leverage the Starbucks brand through the introduction of new products and the development of new distribution channels.
Modest Improvement for ANN
A 10% EPS surprise from AnnTaylor (ANN) has helped nudged the shares price up nearly 2% thus far today. Its reported earnings of 66 cents per share is an increase of 22.22% compared to last year's earnings of 54 cents per share. The Zacks PRI expects a 1.49% price increase in the 10 days following the EPS earnings report.
AnnTaylor Stores is a national retailer of upscale women's clothing. Its stores offer a full range of apparel and accessories under the names Ann Taylor, Ann Taylor Studio, ATdenim, and Ann Taylor Petites. The company targets college-educated women between the ages of 25 and 55 who are employed in professional and managerial positions.
Jack in the Box Springs
Though income growth was down, Jack in the Box (JBX) reported 43 cents per share this quarter, for a positive EPS surprise of 10.26%. The consensus estimate for the quarter is 39 cents taken from estimates by 9 brokers with a standard deviation of 3 cents. The quick-service restaurant (QSR) stock has gotten a bounce today from the news, trading up over 17% in the morning hours.
The Jack in the Box menu features a variety of hamburgers, specialty sandwiches, salads, Mexican food, finger foods and side items. The core of the Jack in the Box menu is its hamburger products, including its signature hamburgers, the Jumbo Jack, Ultimate Cheeseburger and Sourdough Jack.
Energizer Dims a Tad
A slight miss in EPS expectation -- its $1.03 was down -1.90% -- on negative income growth of 50.5% has not done much, if anything, to impede Energizer Holdings' (ENR) share price this morning; the stock is trading up 75 cents, roughly 0.7% so far today. Its EPS represents an increase of 25.61% compared to last year's earnings of 82 cents per share. According to the Zacks PRI, shares should see a 0.42% price increase in the 10 days following the EPS earnings report.
Energizer Holdings is the world's largest manufacturer of primary batteries and flashlights and a global leader in the dynamic business of providing portable power. Energizer's subsidiaries manufacture and market a complete line of primary alkaline and carbon zinc batteries under the Energizer and Eveready brands, as well as miniature batteries and flashlights and other lighting products. Energizer also markets a line of rechargeable batteries.
