Earnings

Thursday’s Top Earning Reports: Dollar Tree Inc. (DLTR), Toronto-Dominion Bank (TD), Hormel Foods Corp (HRL), Canadian Imperial Bank of Commerce (CM)

Dollar Tree Inc. (DLTR) shares slightly moved down on Thursday morning after the Chesapeake, Virginia-based company posted a decline in its first quarter earnings.

The company reported earnings of $200.5 million, or 85 cents a share for in the three-month period ended April 29, down 13.8 percent from $232.7 million, or 98 cents a share in the same period last year.

Toronto-Dominion Bank (TD) shares rose more than 2 percent today after the Canadian multinational banking and financial services corporation said its profit in the second quarter soared 22 percent, helped by volume growth at its Canadian retail business.

The Toronto, Canada-based bank said its overall earnings in the latest quarter surged to C$2.50 billion ($1.86 billion), or C$1.31 per share, as compared to C$2.05 billion, or C$1.07 per share in the year-ago quarter. On an adjusted basis, TD earned C$1.34 per share, topping analysts’ average estimate of C$1.24 per share. Revenue for the quarter ended April 30 came in at C$8.47 billion, as compared to consensus forecast of C$8.43 billion.

Hormel Foods Corp (HRL) stock price is hovering near its 52-week low on Thursday morning after the Austin, Minnesota-based food company posted lower-than-expected earnings for the second quarter.

HRL reported earnings of $210.93 million, or $0.39 a share, slightly down from $215.40 million, or $0.40 a share in the same period last year. Analysts surveyed by Thomson Reuters were looking for a profit of $0.40 a share.

Canadian Imperial Bank of Commerce (CM) said its second-quarter earnings jumped 11.4 percent mainly due to growth at its capital markets and wealth management divisions.

Canada’s fifth-biggest lender posted adjusted earnings of C$1.06 billion or C$2.64 per share in three-month period ended April 30, as compared to C$947 million or C$2.40 per share in the same period last year.

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