Abercrombie & Fitch Co. (ANF: Quote) is rising 2 percent to $33.00. The company's second quarter profit declined from the year-ago quarter, but was above Wall Street view. Net sales for the quarter improved 4 percent, but missed the consensus estimate. Total comparable-store sales for the quarter decreased 10 percent.
Target Corp. (TGT: Quote) is gaining more than 1 percent to $64.20. The company's second quarter profit was flat with the year-ago quarter. Total revenues improved marginally from the prior year period and were above the consensus estimate. The company also raised its fiscal year earnings forecast.
Staples, Inc. (SPLS: Quote) is falling 16 percent to $11.28. The company's second quarter profit and sales declined from the year-ago period. The company noted that its results fell short of its expectations due to softer than expected sales trends in North America and the ongoing weakness in Europe and Australia. Citing weaker-than-expected second quarter results, the company said it is adopting a more conservative sales and earnings outlook.
Deere & Co. (DE: Quote) is falling 5 percent to $76.24. The company's third quarter earnings increased from the last year quarter, but were below analysts' expectation. The company expressed dissatisfaction over its revenue miss stemming from the weakening in certain international markets and short-term manufacturing inefficiencies due to the introduction of a record number of new products. In addition, the company noted that global economic conditions and dryness in several key markets warrant some caution in the coming months.
Canadian Solar Inc. (CSIQ: Quote) is down 13 percent to $2.64. The company slipped to a loss in its second quarter. Net revenue for the quarter declined 27.7 percent and were below analysts' estimate.
Global Payments Inc. (GPN: Quote) is falling 1 percent to $41.43. The company has agreed to buy Accelerated Payment Technologies from Great Hill Partners for $413 million in cash. The company said its revenue will not materially change, as it currently processes the majority of APT's transactions under its existing ISO processing relationship.
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by RTT Staff Writer
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