Thursday, September 27, 2012

HB Fuller Falls On Earnings (TSM, PACD, AFFY, FUL, BBY)

Taiwan Semiconductor Mfg. Co. Ltd. (ADR)(NYSE:TSM) shares jumped 2.07% to $15.30. The company, on Sept. 25, announced that it has acquired a set of equipment from TOKYO ELECTRON LTD for NTD 1,385,769,169, a set of equipment from Hermes Microvision, Inc for NTD 679,655,000 and a set of equipment from another Taiwan-based development company for NTD 415,845,977.

Pacific Drilling SA(NYSE:PACD) shares gained 2.16% to $9.92 in the morning hour after Equities researchers at Dahlman Rose assumed coverage on shares of Pacific Drilling in a report issued today. The firm set a “buy” rating and a $12.50 price target on the stock. Separately, analysts at Evercore Partners initiated coverage on shares of Pacific Drilling S in a research note to investors on September 19. They set an “equal weight” rating on the stock.

Get Free Trend Analysis On PACD Here

Affymax, Inc.(NASDAQ:AFFY) stock increased 1.85% to $20.97. Analysts at Piper Jaffray lifted their price target on shares of Affymax to $26.00 in a research report issued to clients and investors on Sept. 19. Additionally, the company last posted its quarterly earnings results on August 8. The company reported ($0.89) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.67) by $0.22. Affymax’s revenue was down 80.3% compared to the same quarter last year.

HB Fuller Co(NYSE:FUL) stock dropped 6.83% to $31.10 after the company posted third quarter net income of $83.3 million or $1.64 per share, as compared to $23.2 million or $0.47 per share for the year-ago quarter. Adjusted earnings from continuing operations for the latest quarter were $0.53 per share. Net revenue for the third quarter rose 38% to $500.54 million from $363.07 million in the same quarter last year. Analysts expected the company to earn $0.53 per share on revenue estimate of $514.90 million for the third quarter.

Best Buy Co., Inc.(NYSE:BBY) shares fell 0.63% to $17.48 in the early hour. The company, last week, said it is rewarding $100,000 in cash prizes to the winners of the Best Buy College Innovator Fund - a national search to find, mentor and advance the next big ideas in the areas of technology, sustainability, education or a related field.

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