04/18/14 04:19:43 PM
Movers: WATSCO INC., KNOLL, INC., NELNET, INC.
WATSCO INC.(WSO) : WSO posts $0.48 vs. $0.39 Q1 EPS on 7% revenue rise. Capital IQ consensus forecast was $0.47. Also announces its Board of Directors has approved a 50% increase in co.'s annual dividend to $2.40 per share.
KNOLL, INC.(KNL) : KNL posts $0.18 vs. $0.13 Q1 adj. EPS on 14% sales rise. Capital IQ consensus forecast was $0.13. S&P Capital IQ upgrades to strong buy from sell.
NELNET, INC.(NNI) : In 8-K filing, says on April 10, it, certain subsidiaries entered into 4 separate agreements with subsidiaries of CIT GROUP to buy $3.6B of Federal Family Education Loan Program (FFELP) student loans and related assets. Purchase, expected to close on or before April 25, includes the purchase of residual interests in a total of $2.6B of securitized student loans and related assets, and purchase of ~$950M of unsecuritized student loans. Credit Suisse keeps outperform.
BOARDWALK PIPELINE PARTNERS, LP(BWP) : JP Morgan upgrades BWP to overweight from underweight. Co. unavailable.
MONEYGRAM INTERNATIONAL INC.(MGI) : MGI, WESTERN UNION seen lower on reports WAL-MART STORES to launch new money transfer service.
MORGAN STANLEY(MS) : MS posts $0.68 vs. $0.60 Q1 EPS on 10% revenue rise. S&P Capital IQ keeps buy.
SANDISK CORP.(SNDK) : SNDK posts $1.14 vs. $0.68 Q1 GAAP EPS on 13% revenue rise. Says Q1 results driven by 61% growth in its SSD revenue and strong retail performance. S&P Capital IQ keeps buy. Raymond James reiterates outperform.
UNITED RENTALS, INC.(URI) : URI posts $0.90 vs. $0.58 Q1 adj. EPS on 7% revenue rise. Reaffirms outlook for '14 free cash flow in the range of $425M-$475M, after net rental capital expenditures of about $1.2B and gross purchases of about $1.7B. Sees solid demand in almost every market. S&P Capital IQ keeps strong buy.
UNIVERSAL FOREST PRODUCTS INC.(UFPI) : UFPI posts $0.36 vs. $0.26 Q1 EPS on slightly lower sales. Capital IQ consensus forecast is $0.38 EPS, $595.29M revenue (vs. reported $554M).
RENEWABLE ENERGY GROUP, INC.(REGI) : REGI says it now expects to report a net earnings loss of $1.5M-$3.5M, adj. EBITDA of $1M-$3M, which is below co.'s prior guidance of adj. EBITDA of $5M-$15M, expects gallons sold to be at the lower end of the guided range of 45M-55M gallons. Says unseasonably cold winter reduced overall diesel demand, as well as biodiesel blends and also increased REGI's utilities expenses, most notably a significant increase in natural gas prices.
BARNES & NOBLE, INC.(BKS) : BKS Chairman Leonard Riggio announced the sale of a portion of his holdings of BKS stock. Mr. Riggio said he sold 3.7M BKS shares, after which his holdings are expected to represent approximately 20% of BKS's outstanding shares.
MATTEL, INC.(MAT) : MAT posts $0.03 Q1 loss vs. $0.11 EPS on 5% worldwide net sales decline. Capital IQ consensus forecast was $0.09 EPS.
NET 1 UEPS TECHNOLOGIES INC.(UEPS) : UEPS says South African Constitutional Court ruled on appropriate remedy following its declaration on 11/29/13, that tender process followed by South African Social Security Agency (SASSA) in awarding a contract to co.'s wholly owned subsidiary, Cash Paymaster Services Proprietary Limited (CPS), was constitutionally invalid.
FIRST CASH FINANCIAL SERVICES INC.(FCFS) : FCFS posts $0.78 vs. $0.68 Q1 EPS from cont. ops on 6.2% revenue rise. Capital IQ consensus forecast was $0.66. Expects Q2 EBITDA growth of 8%-14%. Also expects '14 EPS to be within its previously announced range of $3.00-$3.15 (but likely to be at lower end of range), which implies EBITDA growth of 10%-15%.
UNITEDHEALTH GROUP INCORPORATED(UNH) : UNH posts $1.10 vs. $1.16 Q1 EPS as higher op. costs offset 5% revenue rise. Capital IQ consensus forecast was $1.09 EPS, $32.0B revenue (vs. reported revenue of $31.7B). Continues to forecast '14 EPS of $5.40-$5.60 on revenue of $128B-$129B.
NETFLIX, INC.(NFLX) : Pacific Crest upgrades NFLX to outperform from sector perform.
POST HOLDINGS, INC.(POST) : POST announces it has agreed to acquire MFI Holding Corporation (Michael Foods) from affiliates of GS Capital Partners, affiliates of Thomas H. Lee Partners and other owners for $2.45B on a cash-free, debt-free basis. Transaction is expected to be accretive to POST's EPS prior to giving effect to purchase accounting adjustments, 1x transaction expenses. POST expects to recognize approximately $10M in synergies resulting from benefits of scale.
SCHLUMBERGER LIMITED(SLB) : SLB posts $1.21 vs. $0.97 Q1 EPS from cont. ops (excl. items) on 6.3% revenue rise. Capital IQ consensus forecast was $1.20.
AMERICAN EXPRESS COMPANY(AXP) : AXP posts $1.33 vs. $1.15 Q1 EPS on 4% revenue rise (net of interest expense). But Q1 '14 revenue of $8.20B below Capital IQ consensus forecast of $8.36B.
GOOGLE INC.(GOOGL) : GOOGL posts $6.27 vs. $6.00 Q1 non-GAAP EPS on 19% revenue rise. Capital IQ consensus forecast was $6.42.
SAP AG(SAP) : SAP posts EUR 0.56 vs. EUR 0.58 Q1 non-IFRS EPS (basic) despite 1.8% revenue rise. Capital IQ consensus forecast was EUR 0.59. Reiterates forecast for '14 non-IFRS operating profit to be in a range of EUR 5.8B - EUR 6.0B at constant currencies.
INTERNATIONAL BUSINESS MACHINES CORPORATION(IBM) : IBM posts $2.29 vs. $2.70 Q1 GAAP EPS on 4% lower revenue. Capital IQ consensus forecast is $2.32 EPS, $22.94B revenue (vs. reported $22.5B). Expects '14 GAAP EPS of at least $17.00.