U.S. Movers: Coinstar, Google, Infosys, iGATE, JPMorgan, Wells Fargo

Mukesh Buch
13 Apr, 2012
New York City

Coinstar soar on first quarter guidance. Google first quarter net surged 61% to $2.89 billion. Infosys declined on lowered fiscal revenue outlook. iGATE first quarter net soared 34.6%. JPMorgan first quarter net fell 3% to $5.4 billion. Wells Fargo first quarter net increased 13% to $4.02 billion.

[R]12:05 PM New York – Coinstar soar on first quarter guidance. Google first quarter net surged 61% to $2.89 billion. Infosys declined on lowered fiscal revenue outlook. iGATE first quarter net soared 34.6%. JPMorgan first quarter net fell 3% to $5.4 billion. Wells Fargo first quarter net increased 13% to $4.02 billion.[/R]

Bank of the Ozarks, Inc. ((OZRK)) slipped 3.3% or $1.02 to $29.91 after the bank holding company reported first quarter net interest income grew 21.5% to $43.8 million from $36.1 million in the same quarter last year. Net income in the quarter increased 23.1% to $18.0 million or 52 cents per diluted share compared to $14.6 million or 43 cents per share in the year ago earlier.

Coinstar, Inc. ((CSTR)) advanced 9.4% or $5.81 to $67.12 after the Redbox movie retailer anticipated first quarter revenue in a range of $567 million to $569 million and diluted earnings per share from continuing operations between $1.62 and $1.66.

Google Inc. ((GOOG)) slumped 3.1% or $20.26 to $630.75 after the internet search engine operator reported first quarter revenue soared 24% to $10.65 billion from $8.58 billion in the same quarter last year. Net income in the quarter surged 60.6% to $2.89 billion or $8.75 cents per diluted share compared to $1.80 billion or $5.51 per share in the year ago.

Infosys Limited ((INFY)) declined 13.4% or $7.61 to $49.16 after the outsourcing service provider reported fourth quarter revenues increased 10.5% to $1.77 billion from $1.60 billion in the same quarter last year. Net profit in the quarter increased 15.2% to $463 million or 81 cents per diluted share compared to $402 million or 70 cents per share in the year ago.

For 2011 total revenue grew 15.8% to $6.99 billion from $6.04 billion in last year. Net profit for the year surged 56.1% to $1.72 million or $3.00 per diluted share compared to $1.50 million or $2.62 per share in the prior year.

The company expects its first quarter outlook for revenue in the range of $1,771 million and $1,789 million and revenue for fiscal 2013 in the range of $7,553 million and $7,692 million.

iGATE Corporation ((IGTE)) soared 9.3% or $1.60 to $18.77 after the outsourcing service provider reported first quarter revenues surged 247.4% to $263.3 million from $75.8 million in the same quarter last year. Net income in the quarter soared 34.6% to $24.1 million or 22 cents per diluted share compared to $17.9 million or 22 cents per share in the year ago earlier.

Independent Bank Corp. ((INDB)) fell 18 cents to $27.74 after the bank holding company said first quarter net interest income fell 2.4% to $47.8 million from $49.0 million in the same quarter last year. Net income in the quarter rose 8.9% to $12.2 million or 56 cents per diluted share compared to $11.2 million or 52 cents per share in the year ago quarter.

JPMorgan Chase & Co. ((JPM)) decreased 2% or 91 cents to $43.93 after the financial holding company reported first quarter net revenue increased 6% to $26.7 billion from $25.2 billion in the same quarter last year. Net income in the quarter fell 3% to $5.4 billion or $1.31 per diluted share compared to $5.6 billion or $1.28 per share in the year ago.

The boards authorized to have new $15 billion equity repurchase program.

J.B. Hunt Transport Services, Inc. ((JBHT)) rose 20 cents to $56.04 after the transportation company reported first quarter revenue grew 17% to $1.17 billion from $1.0 billion in the same quarter last year. Net earnings in the quarter increased 5.8% to $67.7 million or 57 cents per diluted share compared to $50.0 million or 40 cents per share in the year ago earlier.

Shaw Communications Inc. ((SJR)) dropped 4.1% or 87 cents to $20.02 after the Canadian communications company reported second quarter sales edged up 2.9% to $1.23 billion from $1.20 billion in the same quarter of last year. Net income in the quarter rose 3.5% to $178 million or 38 cents per diluted share compared to $169 million or 38 cents per share in the year ago.

Wells Fargo & Company ((WFC)) decreased 1.8% or 64 cents to $33.38 after the bank holding company reported first quarter revenue increased 6.4% to $21.6 billion from $20.3 billion in the same quarter last year. Net income in the quarter increased 13% to $4.02 billion or 75 cents per diluted share compared to $3.57 billion or 67 cents per share in the year ago.

The company’s quarterly revenue growth is the highest in last nine quarters and ninth consecutive quarterly growth of earnings per share.