U.S. Movers: Acuity Brands, Bristol-Myers, Mistras Group, Zep

Mukesh Buch
09 Jan, 2012
New York City

Acuity Brands first quarter net increased 23% to $29.9 million. Bristol-Myers Squibb acquired Inhibitex for $26 per share. Motorola Mobility estimates fourth quarter sales of $3.4 billion. Schnitzer Steel said first quarter net tumbled to $7 million.

[R]10:15 AM New York – Acuity Brands first quarter net increased 23% to $29.9 million. Bristol-Myers Squibb acquired Inhibitex for $26 per share. Motorola Mobility estimates fourth quarter sales of $3.4 billion. Schnitzer Steel said first quarter net tumbled to $7 million.[/R]

Acuity Brands, Inc. ((AYI)) increased 9.8% or $4.93 to $55.25 after the lighting and control system provider said first quarter net sales increased 12% to $474.3 million from $425.0 million in the same quarter last year. Net income in the quarter increased 23% to $29.9 million or 70 cents per diluted share compared to $24.4 million or 56 cents share a year ago period.

Bristol-Myers Squibb Company ((BMY)) fell 0.6% or 22 cents to $34.00 after the pharmaceutical company agreed to acquire Inhibitex, Inc. ((INHX)) for $26.00 per share in cash. The transaction valued the company at $2.5 billion.

Motorola Mobility Holdings, Inc. ((MMI)) fell 0.6% or 26 cents to $38.20 after the communication equipments provider estimates fourth quarter sales of $3.4 billion. This includes shipment of approx 10.5 million mobile devices. The company estimates sales of $900 million for the home business during the quarter.

Mistras Group, Inc. ((MG)) rose 0.04% or 1 cent to $24.00 after the data analysis software provider reported second quarter revenue increased 29% to $114.2 million from $88.8 million in the same quarter last year. Net income in the quarter soared 40% to $8 million or 28 cents per diluted share compared to $5.7 million or 21 cents share a year earlier.

Schnitzer Steel Industries, Inc. ((SCHN)) gained 1% or 45 cents to $44.15 after the iron and steel recycler reported first quarter total revenue increased 23% to $812.2 million from $675.1 million in the same quarter last year. Net income in the quarter tumbled to $7 million or 25 cents per diluted share compared to $17.8 million or 64 cents share a year ago.

Zep Inc. ((ZEP)) fell 0.5% or 8 cents to $14.20 after the cleaning and maintenance solution provider reported first quarter net sales fell 2.5% to $153.5 million from $157.4 million in the same quarter last year. Net income in the quarter slipped 27.5% to $3.6 million or 16 cents per diluted share compared to $4.9 million or 22 cents share a year ago.