A key sales figure rose both in the U.S. and abroad, but its earnings fell short of Wall Street expectations. Its shares slipped in pre-market trading Thursday.
Costco's stores offer members the ability to buy items in bulk at low prices.
Net income for the 12 weeks ended May 11 rose 3% to $473 million, or $1.07 per share. That compares with net income $459 million, or $1.04 per share. Analysts expected $1.09 per share, according to FactSet.
Revenue rose 7% to $25.79 billion from $24.08 billion last year. Analysts expected $25.68 billion.
Revenue in stores open at least one year rose 5% in the U.S. and 3% internationally. Excluding gas prices and foreign currency fluctuation, the figure rose 6% in the U.S. and 8% internationally.
Top 5 Low Price Companies To Invest In Right Now: OCI Resources LP (OCIR)
Oci Resources LP, incorporated on April 22, 2013, is a limited partnership formed by OCI Holdings to operate the trona ore mining and soda ash production business of OCI Wyoming. The Company owns a controlling 40.98% general partner interest and 10.02% limited partner interest in OCI Wyoming, serving a global market from its facility in the Green River Basin of Wyoming. As of March 31, 2013, OCI Wyoming had proven and probable reserves of approximately 267.1 million short tons of trona, which is equivalent to 145.5 million short tons of soda ash. During the year ended December 31, 2012, OCI Wyoming mined approximately 3.87 million short tons of trona and produced approximately 2.45 million short tons of soda ash.
Trona, a naturally occurring soft mineral, is also known as sodium sesquicarbonate and consists primarily of sodium carbonate, or soda ash, sodium bicarbonate and water. The Company process trona ore into soda ash, which is an essential raw material in flat glass, container glass, detergents, chemicals, paper and other consumer and industrial products. The majority of the world's trona reserves are located in the Green River Basin.
Advisors' Opinion:- [By Robert Rapier]
OCI Resources (NYSE: OCIR) is a subsidiary of Atlanta-based OCI Chemical, which operates the trona ore mining and soda ash production business of one of the largest and lowest cost natural soda ash producers in the world. The partnership debuted on Sept. 13 and had the worst opening day of any MLP IPO since 2010. On the first day of trading, units closed down more than 5 percent. They have since recovered, and now trade 6 percent above the IPO price. Beginning with the quarter ending Dec. 31, 2013, OCIR intends to distribute at least the minimum quarterly distribution of $0.5000 per unit, or $2 on an annualized basis. At the recent unit closing price of $19.91, this corresponds to a prospective annual yield of 10 percent.
Top 5 Low Price Companies To Invest In Right Now: Hot Topic Inc.(HOTT)
Hot Topic, Inc., together with its subsidiaries, operates as a mall- and Web-based specialty retailer in the United States. The company operates Hot Topic and Torrid store concepts, as well as an e-space music discovery concept, ShockHound. Its Hot Topic stores sell music/pop culture-licensed merchandise, including tee shirts, hats, posters, stickers, patches, postcards, books, novelty accessories, CDs, and DVDs; and music/pop culture-influenced merchandise comprising women?s and men?s apparel and accessories, such as woven and knit tops, skirts, pants, shorts, jackets, shoes, costume jewelry, body jewelry, sunglasses, cosmetics, leather accessories, and gift items for young men and women primarily between the ages of 12 and 22. The company?s Torrid stores sells casual and dressy jeans and pants, fashion and novelty tops, sweaters, skirts, jackets, dresses, hosiery, shoes, intimate apparel, and fashion accessories for various lifestyles for plus-size females primarily betw een the ages of 15 and 29. As of July 30, 2011, it operated 636 Hot Topic stores in 50 states, Puerto Rico, and Canada; 145 Torrid stores; and Internet stores, hottopic.com and torrid.com. The company was founded in 1988 and is headquartered in City of Industry, California.
Advisors' Opinion:- [By Marshall Hargrave]
In May True Religion (TRGL) announced a buyout offer from TowerBrook Capital for $826 million. Also in May, Rue21 decided to sell itself to Apax Partners for $2.2 billion. Before that, in March, Hot Topic (HOTT) announced that Sycamore Partners was buying out it out for $600 million.
Top 5 Beverage Stocks To Invest In Right Now: First Merchants Corporation(FRME)
First Merchants Corporation, a financial holding company, provides financial and banking products and services. Its deposit products include demand deposits, savings deposits, and certificates and other time deposits. The company?s loan products portfolio comprises commercial and industrial loans; agricultural production financing and other loans to farmers; real estate loans, including construction, commercial and farmland, and residential loans; individuals? loans for household and other personal expenditures; tax-exempt loans; lease financing; consumer loans; and other loans. It also rents safe deposit facilities; and provides personal and corporate trust services, brokerage services, and other corporate services, as well as letters of credit and repurchase agreements. The company operates through 79 banking locations in 23 Indiana and 2 Ohio counties, as well as through ATMs, check cards, interactive voice response systems, and Internet technology. In addition, First Merchants Corporation operates as a property, casualty, personal lines, and employee benefit insurance agency; and involves in life reinsurance business. The company was founded in 1893 and is headquartered in Muncie, Indiana.
Advisors' Opinion:- [By Tim Melvin]
We are starting to see bank merger activity accelerate as banks like Huntington Bancorp (HBAN) and� First Merchants (FRME) looking to expand and growth their asset base in the aftermath of the credit crisis. Banks with below-average capital and returns could quickly become buyout targets.
- [By Tim Melvin]
The year ahead should be a great one for the smaller bank stocks. Larger regionals like Huntington Bancorp (HBAN) and Capital Ban Financial (CBF) have made it clear they intend to grow by acquisition in the years ahead. Banks like First Merit (FMER) and First Merchants (FRME) have done deals in the past year and are open to doing more to increase their market share and footprints. This should be the year the floodgates open and we see the first wave of merger activity in small banks.
- [By Sean Williams]
For this week's round of "Better Know a Stock," I'm going to take a closer look at First Merchants (NASDAQ: FRME ) .
What First Merchants does
First Merchants is a financial holding company that provides community and commercial banking services primarily throughout Indiana, but also in Ohio. As of the first-quarter, First Merchants had $4.3 billion in total assets with total loans outstanding equaling $2.9 billion.
Top 5 Low Price Companies To Invest In Right Now: Colonial Municipal Income Trust (CMU)
MFS High Yield Municipal Trust operates as a nondiversified, closed-end management investment company. The trust invests primarily in medium and lower quality bonds and notes issued by or on behalf of state and local government units. Its portfolio primarily comprises investments in health care, tax-backed, utilities, transportation, housing, education, industrials, resource recovery, industrial, manufacturing, oil and gas, and refunded/escrowed sectors. Columbia Management Advisors, Inc. serves as the investment advisor of the trust. The trust was formerly known as Colonial Municipal Income Trust and changed its name to MFS High Yield Municipal Trust in 2007. MFS High Yield Municipal Trust was founded in 1987 and is based in Boston, Massachusetts.
Advisors' Opinion:- [By Paul McWilliams]
Marvell (MRVL) is clearly carrying a big zit on its forehead from the ongoing legal battle with Carnigie Mellon University (CMU). A jury awarded CMU damages slightly in excess of $1B, and the judge could triple that.
Top 5 Low Price Companies To Invest In Right Now: CarMax Inc(KMX)
CarMax, Inc., through its subsidiaries, operates as a retailer of used vehicles in the United States. It also sells vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions, as well as sells new vehicles under franchise agreements. In addition, the company provides customers financing alternatives through its finance operation, CarMax Auto Finance, as well as through its third-party financing providers. Further, it offers a range of other related products and services, including the sale of extended service plans, guaranteed asset protection, and accessories; the appraisal and purchase of vehicles directly from consumers; and vehicle repair services. As of December 21, 2011, the company operated 107 used car superstores in 52 markets. CarMax, Inc. was founded in 1993 and is headquartered in Richmond, Virginia.
Advisors' Opinion:- [By Jake L'Ecuyer]
Top Headline
CarMax (NYSE: KMX) reported weaker-than-expected fiscal fourth-quarter results and increased its share-buyback plan by $1 billion. CarMax's quarterly profit fell to $99.2 million, or $0.44 per share, versus a year-ago profit of $107.2 million, or $0.46 per share. Its revenue climbed 8.8% to $3.08 billion. However, analysts were expecting earnings of $0.53 per share on revenue of $3.12 billion. - [By Anora Mahmudova]
Shares of CarMax Inc. (KMX) �fell 9.4% after the used-car seller�� third-quarter profit missed Wall Street�� expectations. Profits rose to $106.5 million, or 47 cents a share, from $94.7 million, or 41 cents a share, in the year-ago period. Revenue rose to $2.9 billion from $2.6 billion.
- [By Billy Kipersztok]
In this video, Fool analyst Billy Kipersztok discusses why CarMax (NYSE: KMX ) might be a good buy today. Watch the video to find out how CarMax differentiates itself from competitors and how it might grow moving forward.
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