DuPont, Nike Inc, and KB Home are expected to trade actively in the Friday’s session owing to one or the other reasons discussed below. DuPont lowered its guidance while Nike posted better earnings for the fourth quarter.
DuPont slashed guidance
E I Du Pont De Nemours And Co (NYSE:DD) has lowered its second quarter and full year profit outlook due to worse than expected performance of its agriculture unit. Shares of the company dropped 1.9% in the extended trading. The company is expecting its earnings for the quarter will be marginally below the $1.28 per share posted in the corresponding quarter of the previous year. For full fiscal, Wilmington, Del. Based chemical company has lowered the outlook from previous estimate of $4.20 to $4.45 to $4 to $4.10 per share. Chief Executive Ellen Kullman stated that the outlook has been revised to reflect the expectation for the agriculture business, or the company.
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Nike posts better earnings
Nike Inc (NYSE:NKE) posted better than expected fourth quarter earnings. The company posted a net income at $698 million, an increase of 5.4%. The sportswear maker is making profit as more number of buyers are settling down for athletic apparel and gear for everyday wear rather than just for workout. Increasing demand has helped the company to earn revenue in mature markets such as North America, where sales surged 10% to $3.29 billion last quarter, above the expected sales of $3.13 billion.
Other stocks to watch
KB Home (NYSE:KBH) is projected to post 21 cents per share for the second quarter, according to average estimates by FactSet. The company entered into collaboration with SunPower to install innovation energy storage solutions in various KB Home locations in California.
Finish Line Inc (NASDAQ:FINL) has posted first quarter earnings of 21 cents per share. Consolidated net sales for the company came in at $406.5 million, an increase of 15.8% from the corresponding quarter in the previous year. On a GAAP basis, diluted earnings per share surged to $0.25 from $0.10 in the prior year. Non GAAP diluted earnings per share increased 40.0% to $0.28 compared to $0.20 in the prior year. The Non GAAP earnings excluded the impact of impairment charges in the current year and the impact of start-up costs related to the launch of the company’s operations in Macy’s in the previous year.
Manitowoc Company, Inc. (NYSE:MTW) stocks rallied 12% in the after-hours trade followed by a report in New York Times that an activist investment firm is seeking spinning of the company in two parts.