04/24/14 04:21:10 PM
Movers: FACEBOOK, INC., UNDER ARMOUR, INC., MICROSTRATEGY INC.
FACEBOOK, INC.(FB) : FB posts $0.25 vs. $0.09 Q1 GAAP EPS on 72% revenue rise. Capital IQ consensus estimate is $0.17 EPS, $2.353B revenue (vs. reported $2.5B). S&P Capital IQ upgrades to buy from hold.
UNDER ARMOUR, INC.(UA) : UA posts $0.06 vs. $0.04 Q1 on 36% revenue rise. Sees '14 revenues of $2.88B-$2.91B, operating income of $331M-$334M. S&P Capital IQ says despite strong Q1, shares off 8% on relatively conservative '14 targets for revenue and EBIT growth of 24%-25% and 25%-26%, respectively. Keeps hold.
MICROSTRATEGY INC.(MSTR) : Deutsche Bank upgrades MSTR to buy from hold. MSTR unavailable.
ZIMMER HOLDINGS, INC.(ZMH) : ZMH and Biomet Inc.'s parent announce their respective boards approved a definitive agreement under which ZMH will acquire Biomet in a cash and stock transaction valued at approximately $13.35B, incl. assumption of net debt. Transaction is expected to be double-digit accretive to ZMH's adj. EPS in the first year following the closing, is expected to close in Q1 '15. Separately, ZNH posts $1.50 vs. $1.41 Q1 adj. EPS. S&P Capital IQ downgrades to hold. Needham keeps buy.
FUSION-IO, INC.(FIO) : FIO posts $0.29 Q3 GAAP loss vs. $0.21 loss despite 15% higher revenue. Capital IQ consensus forecast was $0.18 loss. For Q4, FIO says revenue is expected to be in-line to slightly up sequentially. Non-GAAP gross margin is expected to be 52% to 54%. Co. also sees a non-GAAP operating margin of approximately negative 13% to 17%.
XILINX INC.(XLNX) : XLNX posts $0.53 vs. $0.47 Q4 EPS on 16% revenue rise. Capital IQ consensus forecast was $0.55. Sees Q1 FY 15 sales up 0% to 4% sequentially, gross margin is expected to be approximately 68%. S&P Capital IQ maintains strong buy.
MYERS INDUSTRIES INC.(MYE) : MYE posts $0.16 vs. $0.24 Q1 EPS on 2.9% lower net sales. Says extremely poor weather conditions and transportation issues negatively impacted net sales by about $9.6M and resulted in a decrease in net income of about $2.5M, or $0.07 per share. Looking ahead, MYE says it expects year-over-year adjusted EPS growth for Q2 and full-year 2014.
LAM RESEARCH CORPORATION(LRCX) : LRCX posts $0.96 vs. $0.87 Q3 GAAP EPS on 10% revenue rise. S&P reiterates hold.
KNIGHTSBRIDGE TANKERS LIMITED(VLCCF) : VLCCF, Frontline 2012 Ltd. say they have agreed to combine Frontline 2012's remaining fleet of 25 fuel efficient vessels with VLCCF. Under the agreement in principle, the exchange ratio for the acquisition and share issuance will be based on NAV using 3/31/14 broker values. The VLCCF/Frontline 2012 exchange ratio will be 44%/56%. Accordingly, VLCCF has agreed to issue 62M VLCCF shares to Frontline 2012.
TEXAS INSTRUMENTS INC.(TXN) : TXN posts $0.44 vs. $0.32 Q1 EPS on 3% revenue rise. For Q2, expects EPS to be between $0.55-$0.63, revenue in the range of $3.14B-$3.4B. S&P Capital IQ downgrades to hold from buy.
PENSKE AUTOMOTIVE GROUP, INC.(PAG) : PAG posts $0.73 vs $0.63 Q1 EPS from cont. ops on 15% higher same store retail revenue, 21% higher total revenue.
IPC THE HOSPITALIST COMPANY, INC.(IPCM) : IPCM posts $0.57 vs. $0.57 Q1 adj. EPS on 13% revenue rise. Capital IQ consensus forecast was $0.64. Reaffirms its guidance for '14 and expects revenue to be in the range of $720M-$732M, adj. EPS to be in the range of $2.41-$2.51. Feltl cuts estimate, keeps hold.
DR HORTON INC.(DHI) : DHI posts $0.38 vs. $0.32 Q2 EPS on 9% higher net sales orders, 22% higher homebuilding revenue.
NETSCOUT SYSTEMS, INC.(NTCT) : NTCT posts $0.48 vs. $0.43 Q4 non-GAAP EPS on 14% revenue rise. Capital IQ consensus forecast was $0.45. For FY 15, expects non-GAAP EPS of $1.74-$1.81 on revenue of $450M-$465M.
THE BANCORP INC.(TBBK) : TBBK posts $0.01 vs. $0.20 Q1 EPS. Says Q was significantly impacted by an additional loan loss provision of $11.8M principally related to newly identified adversely classified loans.
INGRAM MICRO INC.(IM) : IM posts $0.43 vs. $0.41 Q1 non-GAAP EPS on 1.2% revenue rise. Capital IQ consensus forecast was $0.48. Sees Q2 revenue increasing year-over-year in the low- to mid-single digits, with gross margin improving over Q2 '13 by mid-single-digit basis points.
TSAKOS ENERGY NAVIGATION LIMITED(TNP) : TNP says its public offering of 11M TNP shares was priced at $7.30 per share. Entities affiliated with the Tsakos Holdings Foundation, which is co.'s largest shareholder, have agreed to purchase 500,000 TNP shares in the offering. Gross proceeds from the offering are expected to be approximately $80.3M. TNP has also granted the underwriters a 30-day option to purchase up to an additional 1.65M TNP shares.
SILICOM LTD.(SILC) : SILC posts $0.55 vs. $0.43 Q1 EPS on 26% revenue rise. Capital IQ consensus forecast is $0.65.
QUIDEL CORP.(QDEL) : QDEL posts $0.08 vs. $0.49 Q1 non-GAAP EPS on 25% revenue drop. Capital IQ consensus forecast was $0.43.
CLEARFIELD, INC.(CLFD) : CLFD posts $0.09 vs. $0.04 Q2 EPS on 26% revenue rise. Capital IQ consensus forecast was $0.12.
APPLE INC.(AAPL) : AAPL posts $11.62 vs. $10.09 Q2 EPS on 4.7% revenue rise. Capital IQ consensus forecast was $10.17. Sees Q3 revenue of $36B-$38B, gross margin of 37%-38%. Board increases its share repurchase authorization to $90B from $60B level announced last year. Board also approves increase to quarterly dividend of approximately 8% and has declared a dividend of $3.29 per share. Also announces seven-for-one stock split. S&P Capital IQ reiterates buy. Cowen raises target.
AETNA INC.(AET) : AET posts $1.82 vs. $1.48 Q1 GAAP EPS on 47% higher op. revenue. Says Q1 '14 op. EPS totaled $1.98. Capital IQ consensus forecast was $1.52 normalized EPS. For 2014, AET forecasts $6.35-$6.55 op. EPS, topping the Capital IQ consensus forecast of $6.27.
CATERPILLAR INC.(CAT) : CAT posts $1.61 vs. $1.31 Q1 non-GAAP despite flat sales and revenues. Capital IQ consensus forecast was $1.22 normalized EPS. For 2014, CAT said, with sales and revenues at $56B, the revised profit outlook, including restructuring costs of $0.55 per share, is $5.55 per share higher than the previous outlook of $5.30 per share. Excluding restructuring costs, the revised profit outlook is $6.10 per share, up from the previous outlook of $5.85 per share.
STANLEY BLACK & DECKER, INC.(SWK) : SWK posts $1.07 vs. $0.55 Q1 EPS on 6.6% sales rise. Capital IQ consensus forecast was $0.96. Raises low end of its previously communicated '14 EPS outlook to $5.35-$5.50 on adj. basis, as expects stronger full year results within its Industrial businesses and indirect cost savings across co. to more than offset the impact of a slower improvement trajectory for its Security Europe operation.
TEXAS CAPITAL BANCSHARES INC.(TCBI) : TCBI posts $0.60 vs. $0.80 Q1 EPS despite 12% rise in interest income. Capital IQ consensus forecast was $0.73.
DESTINATION MATERNITY CORPORATION(DEST) : DEST posts $0.24 vs. $0.44 Q1 EPS on 5.1% lower same-store sales, lower total sales. Sees FY 14 adj. EPS of $1.49-$1.62 (vs. prior forecast of $1.72-$1.90) on sales of $528M-$535M.
F5 NETWORKS, INC.(FFIV) : FFIV posts $1.27 vs. $1.07 Q2 non-GAAP EPS on 20% revenue rise. Capital IQ consensus forecast was $1.25. Sees Q3 revenue of $428M-$438M, non-GAAP EPS of $1.33-$1.36. RBC raises estimates.
TRIQUINT SEMICONDUCTOR, INC.(TQNT) : TQNT posts $0.06 Q1 loss vs. $0.17 loss despite 4% revenue drop. Capital IQ consensus forecast was $0.11 loss. Says it is fully booked to its Q2 revenue expectation of $215M-$225M, non-GAAP EPS of $0.06-$0.08.
FORTINET INC.(FTNT) : FTNT posts $0.11 vs. $0.11 Q1 non-GAAP EPS on 24% revenue rise. Capital IQ consensus forecast is $0.09 EPS.
SINOVAC BIOTECH LTD.(SVA) : SVA says it has received notification that a RMB 60M free government grant has been approved by China's Ministry of Finance, National Development and Reform Commission, Ministry of Industry and Information Technology, and National Health and Family Planning Commission for construction of the Company's dedicated production facility for its Enterovirus 71 (EV71) vaccine against hand foot and mouth disease (HFMD).
ANGIE'S LIST, INC.(ANGI) : ANGI posts $0.06 Q1 loss vs. $0.14 loss on 39% revenue rise. Capital IQ consensus forecast was $0.07 loss. Sees Q2 revenue in the range of $79.5M-$80.5M.
VASCO DATA SECURITY INTERNATIONAL INC.(VDSI) : VDSI posts $0.09 vs. $0.06 Q1 EPS from cont. ops on 10% revenue rise. Capital IQ consensus forecast was $0.04. Says 2014 revenue from its traditional business, which excludes new service product offerings, is expected to be in the range of $168M-$172M, an increase from previous forecast of $160M-$165M.
CARBO CERAMICS INC.(CRR) : CRR posts $0.80 vs. $0.76 Q1 EPS depite flat revenue. Capital IQ consensus forecast was $0.87.
QUALCOMM INCORPORATED(QCOM) : QCOM posts $1.14 vs. $1.06 Q2 GAAP EPS on 4% revenue rise. Capital IQ consensus forecast is $1.06 EPS, $6.492B revenue (vs. reported $6.367B). Raises Q3 GAAP EPS guidance range to $0.98-$1.08 from $0.90, revenue range to $6.2B-$6.8B from $6.2B.
E*TRADE FINANCIAL CORPORATION(ETFC) : ETFC posts $0.33 vs. $0.12 Q1 EPS on 13% revenue rise, lower loan loss provisions.
CITRIX SYSTEMS, INC.(CTXS) : CTXS posts $0.64 vs. $0.62 Q1 non-GAAP EPS on 12% revenue rise. Capital IQ consensus forecast was $0.59. Sees Q2 revenue of $765M-$775M, non-GAAP EPS of $0.57-$0.59. Sees FY 14 revenue up approximately 8.5%-10%, non-GAAP EPS of $2.90-$2.95.