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DSW Inc. (NYSE:DSW) stock climbed 9.57% to $61.14 in the early hour after the company posted first-quarter profit as the company witnessed broad-based sales growth at its namesake stores.The company reported first quarter a profit of $39.9 million, or $0.89 a share, as compared with a previous-year loss of $23.4 million, or $1.74 a share. Adjusted earnings rose to $0.98 a share from $0.87 a share. Sales rose 11% to $558.6 million. Analysts expected per-share earnings of $0.90 a share on revenue of $548 million.Looking forward, the company raised fiscal 2012 earnings per share (EPS) guidance to $3.25 to $3.40, while analysts were expecting the company to report EPS of $3.31 for fiscal 2012.Additionally, the company’s Board of Directors approved an increase in the Company's dividend from $0.15 per share to $0.18 per share, an increase of 20%. The dividend will be paid on June 29, 2012 to shareholders of record at the close of business on June 19, 2012.
Genworth Financial Inc (NYSE:GNW) stock gained 6.86% to $5.45 in morning hour. On May 17, 2012, the company announced the re-election of all seven directors nominated at its 2012 annual meeting of stockholders today. The board members re-elected were Steven W. Alesio, William H. Bolinder, Nancy J. Karch, Christine B. Mead, Thomas E. Moloney, James A. Parke, and James S.
Medtronic, Inc. (NYSE:MDT) shares fell 0.53% to $37.50 in the early hour after the company reported fourth quarter net earnings of $991 million and earnings per share of $0.94. Adjusted earnings per share rose 10% to $0.99, beating the consensus estimate by a penny. Net sales grew 3% to $4.30 billion from $4.17 billion in the prior-year quarter. Analysts expected revenues of $4.23 billion.Looking forward, the company expects fiscal year 2013 earnings per share in the range of $3.62 to $3.70, representing 5% to 7% increase from fiscal 2012. Analysts expect earnings per share of $3.66.
Facebook Inc (NASDAQ:FB) shares declined 3.17% to $32.93 in the morning hour. The social media giant began trading for the first time on Friday. The much hyped IPO originally priced at $38 per share, which was at the top end of its estimated price range of $34 to $38. The shares of the company have declined 22% since the time it started trading.Investors are blaming multiple factors for the disappointment of the company’s listing – firstly the company’s increased size as well as price range, which didn’t left any room for retail investors to make any gain. Secondly, the company’s lack revenue potential in mobile space, which is consider to be one of the top users for Facebook. Apart from this, Morgan Stanley is also blamed as it was the lead banker on the I.P.O.
Apple Inc. (NASDAQ:AAPL) shares gained 1.02% to $567 in the morning hour. Goldman Sachs in a research report said that it remains positive on Apple and has a “Buy” rating on it with a target price of $850 for 12 months. Goldman Sachs said the target price is based on a 17X multiple of it’s 2012 EPS estimate.
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