Tower Semiconductor (NASDAQ:TSEM) Tops Street Forecasts; NYSE:TSL, NYSE:DE, NYSE:KSS

tower

Specialty foundry company Tower Semiconductor Ltd. (NASDAQ:TSEM) reports non-GAAP diluted EPS of $0.34 for Q4 2013, up sequentially from $0.22 in Q3 2013. Two analysts surveyed by Capital IQ called for non-GAAP diluted EPS of $0.29. Revenue was down 2% from Q3 2013 to $134.6 million, falling short of the $140 million Capital IQ consensus. For Q1 2014, the company estimates revenues to be between $130 million and $140 million versus the analyst forecast of $132 million.

American Depositary Receipts of Trina Solar Limited (NYSE:TSL) are up 0.1% in the pre-market session, as the solar-power products manufacturer reports a new EPC contract with Fresh Fruits Company, a food storage and logistics company in Amman, Jordan. TSL has been awarded the contract that calls for engineering, procurement, and construction services for a 2 MW rooftop solar power plant on Fresh Fruits’ stores and warehouses. Financial terms were not disclosed.

Industrial machinery manufacturer Deere & Company (NYSE:DE) reported late on Wednesday a definitive agreement to sell its John Deere Water irrigation operations to Israel-based private equity firm FIMI Opportunity Funds. Financial terms were not disclosed.

The company said the transaction is a part of its plan to seek strategic options for its irrigation operations.

Kohl’s (NYSE:KSS) reported fiscal Q4 earnings that were just ahead and sales that were in line with analysts’ expectations and said that comparable sales fell 2% from a year earlier. The operator of department stores said earnings in the quarter ended Feb. 1. fell 6% to $1.56 per diluted share, topping the $1.55 average estimate from analysts polled by Capital IQ. Sales fell 3.8% to $6.1 billion, in line with the consensus. Meanwhile comparable sales fell 2% in the quarter and total net income was lower 12% at $334 million from a year ago. For fiscal 2014, Kohl’s expects sales to increase between 0.5% and 2.5% and for comparable sales to either remain flat or increase as much as 2%. EPS is seen between $4.05 and $4.45 in 2014, only just straddling the $4.43 estimate.

 

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