Sirius XM Radio Inc (NASDAQ:SIRI) shares declined 2.29% to $2.45. The company yesterday announced that it has priced an offering of $400 million of Senior Notes due 2022. The company will receive gross proceeds of $400 million from the sale of the notes.
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Moreover, the company posted a second quarter profit of $3.1billion, or $0.48 a share, as compared to $173.3 million, or $0.03 a share, in the same quarter a year earlier. Revenue jumped 13% to $837.5 million for the quarter. Analysts had forecasted earnings of $0.02 per share on revenue of $834 million.
Looking forward, the company expects fiscal 2012 revenue of$3.4billion and adjusted EBITDA of approximately $900 million. Analysts are expecting the company to report revenue of $3.38 billion and EBITDA of$958million for fiscal 2012.
SIR on Revival Path, Boosts Investors confidence
The stock has shown solid recovery from its recent lows and has gained almost 20% in the past one month with 14% gain came in the past one week. The stock made 4-year high of $2.51 earlier this week.
CareFusion Corporation (NYSE:CFN) shares climbed 6.92% to $26.27 in the early hour after the company fiscal fourth-quarter earnings increased 29% owing to fewer restructuring and acquisition-related charges as the company reported modest revenue growth.
The company reported fourth quarter profit of $110 million, or $0.49 a share, up from $85 million, or $0.37 a share, in the same quarter a year earlier. Adjusted earnings were down at $0.51 a share from $0.52 a share. Revenue increased 3% to $968 million, or 4% excluding currency fluctuations. Analysts recently projected earnings of $0.49 a share on revenue of $956 million.
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For the year, the company projected per-share earnings of $2.11 to $2.21, above recent estimates of analysts for $1.98.
Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) stock gained 2.31% to $12.39 after the company’s Board of Directors has approved an increase in its stock repurchase program authorizing the repurchase of up to a total of $100 million of the Company's common stock. The Company was previously authorized to repurchase up to $25 million of its stock.
Additionally, the company posted second quarter net income of $18.07 million or $0.29 per share versus $7.2 million or $0.12 per share in the same quarter last year. Adjusted earnings per share rose to $0.37 from $0.25 in the same quarter last year. Total revenues grew 51.5% to $68.7 million from $45.36 million in the prior-year quarter. Analysts expected the company to report earnings of $0.32 per share on revenues of $63.40 million.