We kick off the shortened week with Tiffany (TIF), which is up 5% this morning after reporting quarterly earnings. The company easily beat estimates coming in with 65-cents a share on almost $900-milion in revenue. Analysts were expecting 52-cents a share. There had been concerns that the drop in the yen might hurt Tiffany's since Japan is one of its larger markets. But that didn't impact the company much. Shares of Tiffany are up nearly 30% year-to-date not counting this morning's climb.
Next up is Jos. A. Bank (JOSB), which will be reporting its earnings sometime today. The company is expected to post earnings of 29-cents a share down more than 40% from a year ago on slightly lower revenue. The clothier did in fact recently lower its outlook significantly citing lower selling prices and higher costs. Jos. A. Bank stock has underperformed year-to-date, up about 5%. It's down about 5% since this time a year ago.
Now we look at Omthera (OMTH), a small pharmaceutical company which is now trading up more than 97% The stock closed at about $6.75 on Friday, but this morning Astra Zeneca (AZN) announced it's buying the company for $12.70 a share. Omthera is testing a drug to treat patients with very high triglycerides. The medication is derived from fish oils and considered a complement to Astra Zeneca's existing portfolio which includes the cholesterol drug Crestor. Omthera just went public back on April 11th. Prior to today it had been down about 9%.
Finally, there's United Natural Foods (UNFI) which is expected to post earnings of 64-cents a share when it a quarterly report this afternoon. That would be an increase of a nickel from a year ago. United Natural Foods distributes its products to Whole Foods Market and other national supermarket chains. It specializes in organic foods. The stock has bounced around a bit this year, but is almost exactly where it started back in January.
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