U.S. Movers: Biogen, Caterpillar, Compuware, Roper, Twitter, Sony

Mukesh Buch
28 Jan, 2013
New York City

Biogen fourth quarter net slipped 3% and Caterpillar net plunged 55% to $697 million. Compuware rejected buyout offer from Elliott Management Corp. Roper net earnings soared 18%.

[R]10:05 AM New York – Biogen fourth quarter net slipped 3% and Caterpillar net plunged 55% to $697 million. Compuware rejected buyout offer from Elliott Management Corp. Roper net earnings soared 18%.[/R]

Biogen Idec Inc. ((BIIB)) increased 2.8% or $4.21 to $150.41 after the biotechnology said revenues in the fourth quarter ending in December climbed 7% to $1.42 billion from $1.33 billion in the same period of last year. Net income in the quarter slipped 3% to $292.1 million or $1.23 per diluted share compared to $300.2 million or $1.22 a share a year ago earlier.

Biogen expects full-year revenue to grow nearly 10% and diluted earnings per share between $6.45 and $6.55.

Caterpillar Inc. ((CAT)) gained 2.4% or $2.30 to $97.88 after the construction and mining equipments maker reported total sales and revenues in the fourth quarter ending in December declined 7% to $16.07 billion from $17.24 billion in the same period of last year. Net income in the quarter plunged 55% to $697 million or $1.04 per diluted share compared to $1.55 billion or $2.32 a share a year ago.

Revenue in the quarter from construction segment dropped 25% and power system sales declined 6% while resources industry sales climbed 14% and financial product revenue increased 5%.

Operating profit in the fourth quarter declined $922 million to $1.04 billion from a year ago period.

The company expects sales and revenues for the fiscal 2013 in the range of $60 billion to $68 billion and earnings per share between $7 and $9.

Compuware Corporation ((CPWR)) fell 1 cent to $11.56 after the software company rejected buyout offer from Elliott Management Corp. for $11 per share and said the offer significantly undervalues the company and is not in the best interest of shareholders. The company intends to spin-off remaining shares in Covisint following the initial public offering.

Jos. A. Bank Clothiers, Inc. ((JOSB)) plunged 15.1% or $6.99 to $39.28 after the apparel retailer announces that net income for fiscal year 2012 is expected to be about 20% lower than net income for fiscal year 2011.

""Total company sales for the year will be up, but not enough to offset higher marketing expenses and lower gross margin.” stated by R. Neal Black, president and chief executive officer, director.

Furiex Pharmaceuticals Inc. ((FURX)) surged 52.3% or $11.10 to $32.33 after the therapeutic drugs maker said Food and Drug Administration approved for its Type 2 diabetes treatment.

Roper Industries, Inc. ((ROP)) gained 60 cents to $119.43 after the diversified company said revenues in the fourth quarter ending in December jumped 10% to $809.9 million from $739.2 million in the same period of last year. Net earnings in the quarter soared 18% to $143.5 million or $1.44 per diluted share compared to $121.7 million or $1.23 a share a year ago earlier.

The company added operating margin in the quarter soared 27.8% to 250 basis points and for the year operating margin surged 25.3% to 170 basis points.

The technology company expects fiscal 2013 non-GAAP diluted earnings per share between $5.60 and $5.82.

Sony Corporation ((SNE)) climbed 5.1% or 74 cents to $15.15 on a speculation that China may lift its ban on manufacturing and importing of game console. Nintendo also increased 4%.