U.S. Movers: Acme Packet, Gannett, Humana, Sysco, Sohu.com, Clorox

Mukesh Buch
04 Feb, 2013
New York City

Acme Packet agreed to a deal with Oracle for $1.7 billion in cash. Gannett fourth quarter net declined 12% and Humana net slipped 4%. Sysco second quarter net dropped 12%. Sohu.com fourth quarter net declined 6% and Clorox second quarter net soared 18%.

[R]10:00 AM New York – Acme Packet agreed to a deal with Oracle for $1.7 billion in cash. Gannett fourth quarter net declined 12% and Humana net slipped 4%. Sysco second quarter net dropped 12%. Sohu.com fourth quarter net declined 6% and Clorox second quarter net soared 18%.[/R]

Acme Packet, Inc. ((APKT)) surged 22.8% or $5.47 to $29.40 after the network solution provider agree to acquired by Oracle ((ORCL)) for $29.25 per share in cash represents fully diluted equity value of $2.1 billion. Net of cash this represents an enterprise value of $1.7 billion.

The transaction is expected to close in the first half of 2013.

Gannett Co., Inc. ((GCI)) dropped 5.1% or $1.03 to $18.80 after the print and media company said total revenue in the fourth quarter ending in December advanced 9% to $1.52 billion from $1.39 billion in the same period of last year. Net income in the quarter declined 12% to $103.1 million or 44 cents per diluted share compared to $116.9 million or 49 cents a share a year ago earlier.

Gannett added revenues for the quarter from publishing segment grew 3.7% to $1.04 billion and advertising revenues slipped 2% to $657.5 million. Digital publishing revenues surged 87.1% and revenues from broadcasting segment jumped 43.9% to $287.5 million. Total television revenues climbed 45.7% to $280.2 million.

Humana Inc. ((HUM)) climbed 3.1% or $2.40 to $77.75 after the health care company reported total revenues in the fourth quarter ending in December climbed 6% to $9.56 billion from $9.06 billion in the same period of last year. Net income in the quarter slipped 4% to $192 million or $1.19 per diluted share compared to $199 million or $1.20 a share a year ago.

Humana anticipates fiscal 2013 revenue between $41 billion and $41.5 billion and earnings per share in the range of $7.60 to $7.80.

For the first quarter, the company reported diluted earnings per common share between of $1.75 to $1.85.

HomeStreet, Inc. ((HMST)) rose 10 cents to $25.37 after the regional bank stated net interest income in the fourth quarter ending in December climbed 4% to $16.6 million from $12.8 million in the same period of last year. Net income in the quarter surged more than two-fold to $21.5 million or $1.46 per diluted share compared to $7.03 million or $1.21 a share a year ago earlier.

The bank said net interest margin of 3.06% up from 2.48% from a year ago and return on average equity of 32.8% and return on average assets of 3.46%.

Sysco Corporation ((SYY)) slipped 2.5% or 83 cents to $31.26 after the grocery retailer said net revenue in the second quarter ending in December grew 5% to $10.8 billion from $10.2 billion in the same period of last year. Net earnings in the quarter dropped 12% to $221.4 million or 38 cents per diluted share compared to $250.1 million or 43 cents a share a year ago.

Sysco said gross profit for the quarter rose 3.9% to $1.9 billion compared to the prior year and operating income declined 10.4% to $383 million.

Sohu.com Inc. ((SOHU)) declined 2.3% or $1.15 to $48.07 after the Chinese online media company stated total revenues in the fourth quarter ending on December 29 jumped 22% to $299.5 million from $246.2 million in the same period of last year. Net income in the quarter declined 6% to $25.4 million or 60 cents per diluted share compared to $26.9 million or 63 cents a share a year ago period.

Sohu said for the quarter Sogou revenues surged 78% to $41 million, up 108% and online game revenues soared 29% to $159 million. Brand advertising revenues climbed 6% to $82 million and search and others revenues for the quarter jumped 68% to $39 million.

Simon Property Group, Inc. ((SPG)) slid 4 cents to $161.93 after the real estate investment said total revenue in the fourth quarter ending in December soared 15% to $1.34 billion from $1.17 billion in the same period of last year. Net income in the quarter dropped 13% to $315.4 million or $1.01 per diluted share compared to $362.9 million or $1.24 a share a year ago earlier.

For the year, the company estimates diluted net income in the range of $3.55 to $3.65 per share.

TransDigm Group Inc ((TDG)) increased 1.3% or $1.85 to $138.27 after the aircraft components maker reported net sales in the first quarter ending in December soared 22% to $430.4 million from $352.5 million in the same period of last year. Net income in the quarter climbed 14% to $74.2 million or 66 cents per diluted share compared to $65.1 million or $1.15 a share a year ago quarter.

The aircraft components maker lifted net sales for the full year are in the range of $1.82 billion to $1.88 billion and net income between $344 million and $356 million and earnings per share are to be in the range of $5.60 to $5.84.

The Clorox Company ((CLX)) gained 1.4% or $1.18 to $80.34 after the consumer and household products maker stated net revenue in the second quarter ending in December jumped 9% to $1.32 billion from $1.22 billion in the same period of last year. Net earnings in the quarter soared 18% to $123 million or 93 cents per diluted share compared to $105 million or 79 cents a share a year ago quarter.

Clorox said revenues from home care segment jumped 15% and revenues from household segment increased 7%. Lifestyle segment revenue climbed 8% and revenues from outside of the U.S. rose 3%.

Clorox lifted fiscal 2013 sales growth of 3% to 5% from the previous outlook of 2% to 4% and diluted earnings per share in the range of $4.25 to $4.35 from earlier outlook of. $4.20 to $4.35.