Alcoa Inc. (AA) is rising over 2 percent to $9.65. The company slipped to a loss in its fourth quarter, impacted by restructuring charges, lower aluminum prices and continued market weakness. Sales for the quarter rose 6 percent, and were above consensus.
Lululemon Athletica inc. (LULU) is rising over 11 percent to $59.61 as the company lifted its fourth quarter earnings and net revenue forecast.
Regeneron Pharmaceuticals, Inc. (REGN) is rising 14 percent to $74.50. The company stated that initial uptake of EYLEA product has exceeded expectations. The company reported $24 million to $25 million in unaudited sales of that product to distributors in 2011 since first sale on Nov. 21, 2011. The company also provided preliminary 2012 EYLEA U.S. net sales forecast of $140 million to $160 million.
Eastman Kodak Co. (EK) is gaining 16 percent to $0.465. The company announced that it has created a new business structure designed to boost productivity, reduce cost and accelerate its transformation into a digital company. The company has reduced its number of segments from three to two.
Philips (PHG) is falling over 3 percent to $19.51. The company announced that it expects sales for the fourth quarter to show only mid single-digit comparable growth from last year. The company commented that its quarterly results have been affected by the weakness in Europe, which has impacted its Healthcare business, as well as pricing in its Consumer Lighting business. The company said it has taken measures to address its inventory situation in the Lighting business, which also had an impact on earnings for the quarter.
Liz Claiborne, Inc. (LIZ) is falling more than 12 percent to $8.70 based on the news that it expects fiscal 2011 adjusted EBITDA to trail the lower end of its prior guidance. The company further cut its adjusted EBITDA outlook for 2012, and also announced the resignation of its Chief Financial Officer Andrew Warren.
WebMD Health Corp. (WBMD) is down over 24 percent to $27.80 as the company announced that it has terminated discussions with potential acquirers and its process to review a potential sale of the company. Preliminarily, the company expects fourth quarter and full year 2011 revenue and earnings to be between the low-end and midpoint of its financial guidance range. The company also announced that Wayne Gattinella has resigned from his position as Chief Executive Officer, President and also as a board member. WebMD expects its 2012 Adjusted EBITDA and net income to be significantly lower than 2011.
Tiffany & Co. (TIF) is declining nearly 8 percent to $61.85 as the company lowered its earnings per diluted share guidance for the fiscal year ending January 31, 2012. The company said sales weakened markedly in the United States and Europe during the holiday season, reflecting restrained spending by consumers for fine jewelry. Worldwide net sales in the two months ended December 31st increased 7% over the prior year.
by RTT Staff Writer
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