3 Stocks to Watch on Tuesday: Ascena Retail Group Inc (ASNA), Red Hat Inc (RHT) and SYNNEX Corporation (SNX)

ASNA earnings fall, RHT adjusted profit tops estimates and SNX is revenue up 16.6%

It was a weak day for most major U.S. indices as tech stocks fell 1.4%, while energy stocks surged 1.5%. The S&P 500 Index and Dow Jones Industrial Average lost 0.2% apiece, while the Nasdaq Composite declined 0.9%.

3 Stocks to Watch on Tuesday: Ascena Retail Group Inc (ASNA), Red Hat Inc (RHT) and SYNNEX Corporation (SNX)Several companies reported their quarterly earnings data after hours Monday, including Ascena Retail Group Inc (NASDAQ:ASNA), Red Hat Inc (NYSE:RHT) and Synnex Corporation (NYSE:SNX).

Here’s how they did:

Ascena Retail Group Inc (ASNA)

Ascena Retail Group beat earnings expectations in its latest results.

During the fourth quarter, the parent company of Ann Taylor and Dressbarn lost $16 million, or eight cents per share, compared with a profit of $14 million, or seven cents per share in the year-ago period.

On an adjusted basis, Ascena Retail Group earned five cents per share, below the eight cents it earned a year ago. Analysts were calling for earnings at a loss of three cents per share.

Revenue came in at $1.66 billion for the company, falling from its sales total of $1.81 billion a year ago. The figure topped Wall Street’s expectations of $1.57 billion, according to FactSet.

Comparable-store sales fell 4%, narrower than the 8% loss analysts called for in their outlook.

ASNA stock soared 13.4% after hours.

Red Hat Inc (RHT)

Red Hat also unveiled its latest quarterly results late yesterday.

The open-source software company posted second-quarter net income of $96.9 million, or 53 cents per share, compared to $58.8 million, or 32 cents a share, in the year-ago period.

Red Hat’s earnings were 77 cents per share when adjusted for one-time items, topping Wall Street’s projections of 67 cents per share, according to data compiled by FactSet.

Revenue came in at $723.4 million, below Wall Street’s $699.6 million. In the year-ago period, the company raked in $599.8 million.

For its third quarter, Red Hat forecasts it will earn 70 cents per share on revenue of $730 million to $737 million. Analysts had estimated earnings of 70 cents a share on revenue of $710.5 million.

RHT stock grew 4.5% after the bell Monday.

Synnex Corporation (SNX)

Synnex shares were higher on the company’s quarterly results.

The company posted earnings of $75.2 million for its third quarter, or $1.87 a share, compared to $58.7 million, or $1.47 a share, in the year-ago period. Adjusted earnings were $2.16 a share, ahead of analysts’ expectations of $1.97 a share.

Revenue was higher year-over-year, growing from $3.67 billion to $4.28 billion, which was well ahead of analysts’ consensus estimate of $4 billion, according to FactSet.

For the fourth quarter, Synnex sees adjusted earnings of $2.63 to $2.73 a share on revenue of $4.75 billion to $4.95 billion. Analysts see earnings in the range of $2.52 a share on revenue of $4.47 billion.

SNX stock popped 9% after hours.

As of this writing, Karl Uterhohlen did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/09/3-stocks-to-watch-on-tuesday-ascena-retail-group-inc-asna-red-hat-inc-rht-and-synnex-corporation-snx/.

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