Friday, July 20, 2012

Equities Review: Xerox Corporation, Cepheid, Pharmaceuticals

U.S. stocks retreated on Friday after posting three straight day of gains on earnings-driven developments and resurfacing European concerns, with one of Spain’s regional governments asking for financial aid.

Xerox Corporation (NYSE:XRX) stock fell 3.20% to $6.96 after the company’s second-quarter earnings fell 3.1% as sales from its technology business declined and margins shrunk.
Get Free Updates on Earnings Everyday For Free Here

The company posted second quarter profit of $309 million, or $0.22 a share, as compared to $319 million, or $0.22 a share, in the same quarter a year earlier. Adjusted earnings were $0.26 a share in the most-recent quarter. Its April projection was per-share earnings of 25 cents to 28 cents. Revenue dropped 1.3% to $5.54 billion, missing the $5.59 billion estimate from analysts.

Going forward, the company now expects third quarter of 2012 GAAP earnings of $0.20 to $0.22 per share and adjusted EPS to be $0.24 cents to $0.26 per share. The Company expects fiscal 2012 GAAP EPS of $0.92 to $0.97 and adjusted EPS of $1.07 to $1.12. 

Cepheid (NASDAQ:CPHD) shares plunged 22.82% to $33.75 after the company reported second-quarter net income of $1.1 million or $0.02 per share, as against $1.8 million or $0.03 per share in the same period last year. Excluding items, non-GAAP net income for the quarter was $7.9 million or $0.11 per share. Total revenues rose 21% to $81.0 million from $67.0 million in the year-ago quarter. Analysts expected the company to earn $0.02 per share on revenues of $82.67 million for the quarter.

How Should Investors Trade CPHD Now, Get Free Trend Analysis

Looking forward, the company expects fiscal year ending December 31, 2012, net income in the range of $0.00-$0.04 and non-GAAP net income of $0.38-$0.42 on revenues ranging between $333 million-$347 million. Analysts expect the company to earn $0.14 per share on revenues of $341.84 million for the current fiscal year.

Additionally, Cepheid shares had its price target decreased by Wedbush from $45.00 to $42.00 in a research report sent to investors today.

Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) stock surged 15.25% to $78.81 after the company announced that the U.S. Food and Drug Administration (FDA) has granted accelerated approval of Kyprolis(TM) (carfilzomib) for Injection, a proteasome inhibitor, indicated for the treatment of patients with multiple myeloma who have received at least two prior therapies, including bortezomib and an immunomodulatory agent, and have demonstrated disease progression on or within 60 days of completion of the last therapy.

Get Free Updates on Earnings Everyday For Free Here 

Additionally, Leerink Swann upgraded shares of Onyx Pharmaceuticals from a market perform rating to an outperform rating in a report issued today.

No comments:

Post a Comment

Privacy Policy | Legal Disclaimer