On Tuesday, Shares of Coach, Inc. (NYSE:COH), gained 3.22% to $31.41.
Coach stated net sales of $1.00 billion for its fourth fiscal quarter ended June 27, 2015, counting a $43 million contribution from the May acquisition of Stuart Weitzman. This contrast with $1.14 billion stated in the same period of the preceding year, a decrease of 12%. On a constant currency basis, total sales declined 8% for the period. Net income for the quarter totaled $85 million, with earnings per diluted share of $0.31, not taking into account transformation-related charges and acquisition costs. The acquisition of Stuart Weitzman contributed $2 million to net income and $0.01 to earnings per diluted share for the quarter. Net income in the fourth quarter of FY14 totaled $164 million with earnings per diluted share of $0.59, not taking into account transformation and other actions. Stated net income for the fourth quarter of FY15 totaled $12 million with earnings per diluted share of $0.04 contrast to the preceding year’s stated net income of $75 million and earnings per diluted share of $0.27.
For the fiscal year ended June 27, 2015, Coach, Inc. net sales declined 13% to $4.19 billion from $4.81 billion the preceding fiscal year while net income not taking into account transformation-related charges and acquisition costs was $531 million as compared to $870 million in the preceding year. On a constant currency basis, sales declined 11% for the year. In addition, diluted earnings per share on a non-GAAP basis totaled $1.92 as contrast to $3.10 in the preceding year. Stated net income for the year totaled $402 million and earnings per diluted share were $1.45, contrast to stated net income for the preceding year of $781 million with earnings per diluted share of $2.79.
Coach, Inc. provides luxury accessories and lifestyle collections for women and men in the United States and internationally. It offers handbags, money pieces, wristlets, rings, charms, and cosmetic cases for women; and business cases, computer bags, messenger-style bags, totes, wallets, card cases, and belts, in addition to time administration and electronic accessories for men.
Shares of Merck & Co. Inc. (NYSE:MRK), declined -0.59% to $58.70, during its last trading session.
Merck & Co., price target was raised to $67 from $66 at Leerink, which maintained its “market perform” rating.
Merck continues to see a very noteworthy opportunity in HCV franchise, counting the critically important Phase II triplet therapy data, the firm noted.
“We believe Merck’s triplet will be crucial to sustaining a healthier HCV pricing environment, due to the modestly lower top-line efficacy and the anticipated entry of triples from both GILD and JNJ/ACHN,” Leerink analysts said.
Merck & Co., Inc. provides health care solutions worldwide. The company offer therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, asthma, nasal allergy symptoms, allergic rhinitis, chronic hepatitis C virus, HIV-1 infection, fungal infections, intra-abdominal infections, hypertension, arthritis and pain, inflammatory, osteoporosis, male pattern hair loss, and fertility diseases.
Finally, Scientific Games Corporation (NASDAQ:SGMS), ended its last trade with -15.67% loss, and closed at $12.70.
Scientific Games Corporation stated results for the second quarter ended June 30, 2015.
“Throughout the second quarter we made further noteworthyprogress on implementing our key initiatives targeting revenue growth opportunities, advancing our comprehensive integration efforts and implementing our planned cost savings,” said Gavin Isaacs, Scientific Games’ President and Chief Executive Officer. “We have heightened our focus on innovation to take advantage of the unique value proposition we can deliver to drive growth for our customers, and we’re looking forward to a strong showing next week at the Australia Gaming Expo, and demonstrating our entire portfolio of innovative solutions in the next two months at the Global Gaming Expo (“G2E™”) and National Association of State and Provincial Lotteries (“NASPL”) conference.
“In this regard, our recent new product introductions have been well received, counting our Friends™ and The flintstones™ participation games and our WMS-branded s32 hybrid slant slot cabinet,” continued Isaacs. ‘We’ve launched the Shuffle Master Classic national tournament at more than 200 U.S. casinos, attracting thousands of players. Elsewhere, following the successful premiere season of the MONOPOLY MILLIONAIRES’ CLUB™ TV game show, the show’s second season syndication run is planned to start next month. Also, we’ve achieved great traction in the commercialization of our SG Universe suite of interactive products, counting signing agreements for 14 additional properties in the second quarter.
Scientific Games Corporation develops technology-based products and services, and associated content for the gaming and lottery industries worldwide. The company operates through three segments: Gaming, Lottery, and Interactive.
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