The U.S. stock market continued its downward spiral as crude oil fell 1.5% and gold gained 0.9%. The S&P 500 Index slipped 0.2%, the Dow Jones Industrial Average lost 0.1% and the Nasdaq Composite also declined 0.1%.
Several companies reported on their latest quarterly data Monday, including Fabrinet (NYSE:FN), Twenty-First Century Fox Inc (NASDAQ:FOXA) and Gap Inc (NYSE:GPS).
Here’s how they did:
Fabrinet (FN)
Fabrinet released its latest financial data late in the day yesterday.
The company’s latest earnings amounted to 91 cents per share. The consensus estimate called for earnings of 79 cents per share on an average basis.
The figure surpassed Fabrinet’s earnings from a year ago of 50 cents per share. Meanwhile, net sales for the company came in at $351.20 million, which topped analysts’ projections of $335.07 million.
The firm’s net margin came in at 7.6%, while its return on equity was of 14.16%. Fabrinet also updated its guidance for the current quarter, which will be in the range of 87 cents to 89 cents per share.
Revenue will be in the share of $360 million to $364 million, which is nearly $30 million higher than the third-quarter revenue estimate of $334.79 million.
FN shares surged as much as 3.9% after the bell Monday.
Twenty-First Century Fox Inc (FOXA)
Twenty-First Century Fox shares improved late in the day despite the company missing analysts’ expectations.
Revenue came in at $7.68 billion, marking a 4.2% rise year-over-year. Analysts polled by Thomson Reuters had reached a revenue consensus estimate of $7.72 billion.
Earnings were a bright spot as they came in at 46 cents per share, or 53 cents per share on an adjusted basis. The figure was well ahead of the 34 cents earned a year ago, and the Wall Street adjusted earnings prediction of 49 cents per share.
Domestic advertising sales were 12% stronger during the quarter.
FOXA stock edged up 0.9% after the day closed.
Gap Inc (GPS)
Gap stock wafted higher as the company’s financial expectations was stronger than expected.
The company reported a 1% rise in sales year-over-year to $4.43 billion in its fourth quarter, coming in slightly ahead of the $4.4 billion that analysts were expecting. The rise was a welcome change from quarters of decline that had plagued the retailer.
Additionally, stores open for at least a year saw their sales gain 2%, thanks in large part to its Old Navy and Gap brands. Banana Republic was the quarter’s dud with a 3% slump.
The company will not report until Feb. 23, but it has updated what it expects from its quarter to earnings of 54 cents to 55 cents per share, or 50 cents to 51 cents a share on an adjusted basis.
Analysts are expecting adjusted earnings of 43 cents to 45 cents per share. For the fiscal year, earnings will be in the range of $1.68 to $1.69 a share, or $2.01 to $2.02 on an adjusted basis.
The previous earnings estimate for the year was much lower at $1.41 to $1.50 per share, or $1.87 to $1.97 on an adjusted basis.
GPS shares were 2.3% better by day’s end.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
