Watson Pharmaceuticals, Inc. (WPI: Quote) rose over 4 percent to $72.90 amidst the news that the company has agreed to buy privately held Actavis Group for an upfront payment of EUR 4.25 billion. Watson said it will become the third largest global generics company with 2012 anticipated pro forma revenue of about $8 billion.
Citrix Systems, Inc. (CTXS: Quote) rose more than 7 percent to $83.00. The company's first quarter profit declined from the previous year period, but its adjusted earnings per share were above analysts' estimate. The company guided second quarter adjusted earnings per share below consensus. Meanwhile, the company raised its full year 2012 adjusted earnings per share and revenue forecast above analysts' view.
Cirrus Logic, Inc. (CRUS: Quote) gained 8 percent to $24.91. The company's fourth quarter profit plunged from the year-ago quarter, but its non-GAAP earnings per share topped Wall Street view. The company said it expects to grow revenue substantially during fiscal 2013, while year-over-year revenue in first quarter is currently expected to grow approximately 10 percent. The company expects to transition to a sharply higher level of revenue starting in the September quarter, due to the timing of various product introductions later this year.
Ancestry.com Inc. (ACOM: Quote) gained over 11 percent to $27.25. The company's first quarter profit increased from the year-ago quarter and was above consensus. Total revenue for the quarter increased 19 percent. The company also announced that it has agreed to buy Archives.com, a family history website, for about $100 million in cash and assumed liabilities.
Skechers USA Inc. (SKX: Quote) jumped 20 percent to $17.86. The company slipped to a loss in its first quarter, but its loss was lesser than what analysts' had estimated. Net sales increased from the prior year period and topped analysts' estimate.
H&R Block, Inc. (HRB: Quote) declined 16 percent to $14.10. The company announced a strategic realignment, including plans to cut 350 full-time positions and close approximately 200 underperforming company-owned offices. The company expects to realize net annualized savings of $85 million to $100 million by the end of fiscal year 2013. The company also announced that it is looking for a new finance chief.
Huron Consulting Group (HURN: Quote) plunged over 16 percent to $32.30. The company's first quarter profit declined from the previous year period and was below Wall Street view. The company noted that its quarterly revenues and earnings were lower than it expected, primarily due to the timing of contingent revenues in its healthcare practice. Meanwhile, the company affirmed its guidance for 2012.
Akamai Technologies, Inc. (AKAM: Quote) fell 6 percent to $36.45. The company's first quarter profit declined 15 percent from the year-ago quarter, while revenue improved 16 percent. In addition, the company announced that its President and CEO Paul Sagan plans to transition out of his role by the end of 2013.
Trading in shares of American Railcar Industries, Inc. (ARII: Quote) was halted. The company swung to a profit in its first quarter. Total revenues jumped from the year-ago quarter and were above consensus.
| || |
| To receive FREE breaking news email alerts for Actavis Plc. and others in your portfolio|
by RTT Staff Writer
For comments and feedback: email@example.com