This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Toll Reports Better-than-Expected Earnings: Ahead of the Ticker

NEW YORK ( TheStreet) -- Luxury homebuilder Toll Brothers (TOL - Get Report) reported better-than-expected second-quarter earnings on increased demand for new homes.

The company reported net income of $24.7 million, or 14 cents a share, up from $16.9 million, or 10 cents a share, in the same quarter last year.

Revenue climbed 38% to $516 million.

Analysts expected earnings of 7 cents a share on $515.5 million in revenue.

"Buyers who have been on the sidelines for six years are jumping in," CEO Douglas Yearley said. "Low interest rates, improved customer confidence, a strong stock market, rising home prices and a reawakening economy are stoking the demand that is fueling our luxury market."

According to Toll, the builder experienced the highest level of quarterly orders in seven years. Its average selling price increased 3.6% in the second quarter to $577,000 per home from a year earlier.

Toll signed contracts for 1,753 homes at a value of $1.19 billion, also the highest figures it's experienced sine 2006. The company signed contracts for 1,290 homes at $754.7 million in the same quarter last year.

Target (TGT - Get Report) reported disappointing first-quarter sales, prompting the retailer to issue a lower full-year profit outlook than it previously forecast.

First-quarter sales in the U.S. fell 0.6%, worse than the 0.03% decline analysts predicted, according to Thomson Reuters.

Target earned $498 million, or 77 cents a share, in the quarter ended May 4, down from its profit of $697 million, or $1.04 a share, in the same quarter last year.

Target attributed the weak results to the cooler-than-usual spring weather that weighed on shoppers' seasonal spending.

The company now expects adjusted earnings of $4.70 to $4.90 a share for the full year, below the prior forecast of $4.85 to $5.05 that it issued in April.

Analysts had expected earnings of $4.48 a share for the full year.

Drugmaker GlaxoSmithKline (GSK - Get Report) has received a development deal worth up to $200 million from the U.S. government to create new antibiotics.

Per the deal, a first of its kind collaboration between the U.S. government and a drug company, GlaxoSmithKline will focus on developing several drugs that will combat antibiotic resistance and bioterrorism.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
GSK $47.82 0.00%
TOL $37.88 0.00%
TGT $77.72 0.00%
AAPL $128.54 0.00%
FB $80.90 0.00%


DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs