Tuesday's Winners & Losers: Fossil
Updated from 11:37 a.m. EDT
Fossil (FOSL) was among the Nasdaq's winners Tuesday, jumping 5.1% after the watch maker posted second-quarter results that beat Wall Street's forecast.
The company reported earnings of $14.7 million, or 21 cents a share, on revenue of $306.5 million. Excluding costs from the company's stock option review, the company earned 26 cents a share. Analysts polled by Thomson Financial expected earnings of 19 cents a share on revenue of $295.7 million. During the year-earlier period, the company earned $11.2 million, or 16 cents a share, on revenue of $259.2 million.
Looking ahead, Fossil sees third-quarter earnings of 37 cents a share. Analysts project earnings of 39 cents a share. For the full year, the company sees $1.72 a share. Analysts project earnings of $1.49 a share. Shares closed up $1.42 to $29.46.Wal-Mart (WMT) fell 5.1% after the retailer reported disappointing second-quarter results and warned that third-quarter earnings would be below expectations. The company earned $3.11 billion, or 76 cents a share, on revenue of $91.99 billion. Excluding one-time gains, the company earned 72 cents a share. Analysts expected earnings of 76 cents a share on higher revenue of $92.68 billion. During the year-earlier quarter, the company earned $2.08 billion, or 72 cents a share, on revenue of $84.52 billion. Looking ahead, Wal-Mart sees third-quarter earnings of 62 cents to 65 cents a share, which is below the 68 cents a share that analysts project. For the full year, the company now sees earnings of $3.05 to $3.13 a share, below previous guidance of $3.15 to $3.23 a share. Shares closed down $2.35 to $43.82. Shares of Excel Maritime Carriers (EXM) rose 6% after the transportation services company posted second-quarter results that topped expectations. The company earned $20.3 million, or $1.02 a share, on revenue of $37.3 million. Excluding items, the company earned 69 cents a share. Analysts expected earnings of 57 cents a share on revenue of $34.4 million. During the year-earlier period, the company earned $4.5 million, or 23 cents a share, on revenue of $26.7 million. Shares closed up $2 to $35.49.
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