U.S. Movers: A. Schulman, Amicus, Accuray, Gap, Mosaic, Sonic

Mukesh Buch
04 Jan, 2013
New York City

A. Schulman first quarter net declined 13%. Accuray offered weak outlook for the second quarter. Gap acquired Intermix for $130 million in cash. Mosaic second quarter net slid as sales declined 16%. Finish Line third quarter net swung to loss.

[R]11:30 AM New York – A. Schulman first quarter net declined 13%. Accuray offered weak outlook for the second quarter. Gap acquired Intermix for $130 million in cash. Mosaic second quarter net slid as sales declined 16%. Finish Line third quarter net swung to loss.[/R]

A. Schulman, Inc. ((SHLM)) gained 3.2% or 99 cents to $30.09 after the plastic compounds supplier reported total revenues in the first quarter ending in November grew 4% to $540.6 million from $517.3 million in the same period of last year. Net income in the quarter declined 13% to $11.8 million or 40 cents a diluted share compared to $13.6 million or 46 cents a share a year ago earlier.

The company reiterated fiscal 2013 full year net income guidance in the range of $2.14 to $2.19 per diluted share.

Amicus Therapeutics, Inc. ((FOLD)) jumped 15.7% or 47 cents to $3.77 after the biopharmaceutical company said it had preliminary positive results from all 4 dose cohorts in a Phase 2 study of its treatment for Pompe disease.

Accuray, Inc. ((ARAY)) plunged 23.3% or $1.58 to $5.20 after the radio-surgery device maker reported preliminary results for the second quarter ending in December are expected to be in the range of $72 million to $75 million.

The company projects fiscal 2013 revenue in the range of $320 million to $330 million and net loss between $63 million and $69 million or a net loss of 87 cents to 95 cents per share.

Progress Software Corporation ((PRGS)) climbed 5.2% or $1.09 to $21.91 after the software company stated total revenues in the fourth quarter ending in November slid 2% to $91.3 million from $93.5 million in the same period of last year. Net income in the quarter surged three-fold to $36 million or 57 cents a diluted share compared to $12.2 million or 19 cents a share a year ago period.

Sonic Corp. ((SONC)) declined 5.2% or 56 cents to $10.18 after the restaurants operator said net sales in the first quarter ending in November slumped 5% to $126 million from $128.3 million in the same period of last year. Comparable store sales for the quarter increased 3%.

Net income in the quarter jumped 11% to $6.13 million or 11 cents per diluted share compared to $5.50 million or 9 cents a share a year ago quarter.

The Gap, Inc ((GPS)) added 2 cents to $32.07 after the specialty apparel retailer agreed to acquire INTERMIX Holdco Inc., a multi-brand specialty apparel and accessories retailer based in New York for approximately $130 million in cash. The transaction was completed on December 31.

The Mosaic Company ((MOS)) increased 1.7% or 98 cents to $57.75 after the agriculture products maker reported net sales in the second quarter ending in November declined 16% to $2.54 billion from $3.01 billion in the same period of last year. Net income in the quarter edged up to $628.8 million or $1.47 a diluted share compared to $623.6 million or $1.40 a share a year ago.

The Finish Line, Inc. ((FINL)) dropped 3.6% or 70 cents to $18.34 after the specialty retailer said net sales in the third quarter ending on December 1 advanced 5% to $296.6 million from $282 million in the same period of last year. Comparable store sales for the quarter increased 3.6%.

Net loss in the quarter swung to $0.11 million or break even diluted share compared to net income of $5.55 million or 11 cents a share a year ago earlier.

For the fourth quarter, the company expects earnings per share to be between 74 cents and 78 cents and fourth quarter comparable store sales increase in the low single digit range. For the fiscal 2013, expects earnings per share in the range of $1.47 to $1.51.