Friday, July 13, 2012

Lexmark International Slumps On Earnings (LXK, NWY, DEI, APKT, UNT)

Lexmark International Inc (NYSE:LXK) shares plunged 14.64% to $20.75 after the company cut its second-quarter guidance owing to weaker-than-expected demand, especially in Europe, and larger-than-expected headwinds from foreign currency exchange rates.

The company currently expects adjusted earnings of $0.87 a share to $0.89 a share, below its April view of $0.95 to $1.05 a share. The company expects revenue to fall 12% year-over-year, while its April guidance called for a 7% to 9% decline.

New York & Company, Inc. (NYSE:NWY) yesterday said it forecasts its second-quarter same-store sales to top its earlier expectations, and added that it expects to considerably narrow its operating loss for the quarter.

The company expects second quarter sees same-store sales to be slightly higher, compared with its May projection of a slight decline in same-store sales. The company expects an operating loss between $5 million and $7 million for the latest period, as compared with a year-earlier loss of $15.1 million.

Douglas Emmett, Inc. (NYSE:DEI) plans to release its 2012 second quarter earnings results after the close of the stock market on Tuesday, July 31, 2012. A live conference call is scheduled for the following day, Wednesday, August 1, 2012 at 11:00 a.m. Pacific Time / 2:00 p.m. Eastern Time. Jordan Kaplan, President and Chief Executive Officer, will host the call along with Theodore Guth, Chief Financial Officer.

Unit Corporation (NYSE:UNT) announced that its wholly owned subsidiary, Unit Petroleum Company ("Unit Petroleum"), has entered into an agreement to acquire certain oil and natural gas assets from Noble Energy, Inc. that include approximately 84,000 net acres primarily in the Granite Wash, Cleveland, and Marmaton plays in western Oklahoma and the Texas Panhandle, for $617.1 million in cash, subject to certain possible adjustments.

Acme Packet, Inc. (NASDAQ:APKT) announced that its Board of Directors has authorized the repurchase of up to $200 million of the Company's common stock over the next twelve months. The common stock repurchase program will be in effect from July 31, 2012 through July 31, 2013 unless terminated earlier by the Board of Directors.

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