U.S. Movers: Acuity Brands, Generali, IHS, Monsanto, Sears

Mukesh Buch
08 Jan, 2013
New York City

Acuity Brands first quarter net dropped 13% and acquired Adura Technologies. IHS fourth quarter net climbed 100% and Monsanto net jumped 169%. Sears expects fiscal year loss and Edwad Lampert will assume additional role as the chief executive.

[R]9:50 AM New York – Acuity Brands first quarter net dropped 13% and acquired Adura Technologies. IHS fourth quarter net climbed 100% and Monsanto net jumped 169%. Sears expects fiscal year loss and Edwad Lampert will assume additional role as the chief executive.[/R]

Acuity Brands, Inc. ((AYI)) dropped 5.3% or $3.70 to $65.27 after the lighting systems provider reported net sales in the first quarter ending in November grew 1% to $481.1 million from $474.3 million in the same period of last year. Net earnings in the quarter dropped 13% to $26.1 million or 61 cents a diluted share compared to $29.9 million or 70 cents a share a year ago.

The company expects second quarter growth rate in the lighting market in the North American slightly fall to low to mid-single digit range.

In the separate press release yesterday Acuity Brands agreed to acquire assets of Adura Technologies Inc. energy management solution provider, but terms of the acquisition were not disclosed.

Assicurazioni Generali SpA, the Italy based insurer agreed to purchase 49% of European venture GPH, the largest insurer in Central and Eastern Europe from PPF Group for € 2.5 billion or $3.3 billion to take full control of joint venture.

IHS Inc. ((IHS)) climbed 3.2% or $3.10 to $100 after the oil well service provider said total revenue in the fourth quarter ending in November advanced 12% to $414.4 million from $370.7 million in the same period of last year. Net income in the quarter surged doubled to $46.4 million or 69 cents a diluted share compared to $22.7 million or 34 cents a share a year ago earlier.

For the year, the IHS expects revenue in a range of $1.64 billion to $1.71 billion to increase 5% to 7% and adjusted earnings per diluted share between $4.23 and $4.43.

Lindsay Corporation ((LNN)) surged 6.1% or $4.88 to $89.90 after the irrigation and infrastructure products provider reported total revenues in the first quarter ending in November climbed 24% to $147.4 million from $119.2 million in the same period of last year. Net earnings in the quarter soared more than four-fold to $14.7 million or $1.15 a diluted share compared to $2.9 million or 23 cents a share a year ago.

Total irrigation equipment revenues increased 33 percent to $134.2 million and gross margin in the quarter jumps 29.1%.

Monsanto Company ((MON)) gained 3.3% or $3.21 to $99.15 after the agricultural products provider said total net sales in the first quarter ending in November soared 21% to $2.94 billion from $2.44 billion in the same period of last year. Net income in the quarter jumped 169% to $339 million or 63 cents a diluted share compared to $126 million or 23 cents a share a year ago earlier.

The company lifted its full year ongoing earnings per share guidance to between $4.30 and $4.40 per share and for the fiscal year in the range of $4.31 to $4.41 per share.

Team, Inc ((TISI)) jumped 5.2% or $1.96 to $39.05 after the construction service provider said net sales in the second quarter ending in November jumped 11% to $200.7 million from $158.3 million in the same period of last year. Net income in the quarter surged 35% to $13.9 million or 66 cents a diluted share compared to $10.3 million or 50 cents a share a year ago quarter.

The company lifted its previous guidance for fiscal 2013 from 5 cents earnings per share to a revised range of $1.90 to $2.05 per diluted share and now expects revenues between $700 million and $730 million.

RPM International Inc. ((RPM)) slipped 1.5% or 47 cents to $30.10 after the specialty chemical stated net sales in the second quarter ending in November jumped 11% to $1.02 billion from $916.1 million in the same period of last year. Net income in the quarter declined 17% to $41.7 million or 31 cents a diluted share compared to $49.9 million or 38 cents a share a year ago period.

The RPM anticipates full year sales to increase between 8% and 10% and diluted earnings per share to grow 9% to 12% or in the range of $1.80 to $1.85.

Sears Holdings Corporation ((SHLD)) declined 7.9% or $3.41 to $39.51 after the specialty retailer expects net loss in the fourth quarter ending February 2 between $280 million and $360 million or between $2.64 and $3.40 loss per diluted share.

Total domestic comparable store sales for the nine-week period declined 1.8% and sales at Kmart slipped 2.4%. Sears Domestic and Kmart online sales increased approximately 20%.

For the full year the company expects to report net loss between $721 million and $801 million or between $6.80 and $7.56 loss per diluted share.

The Sears said chief executive officer Louis D''Ambrosio will step down for family health reasons and Edward Lampert will assume the position in addition to chairman of the company.