U.S. Movers: Schulman, Commercial Metals, IHS, Palo Alto Networks, Sonic

Mukesh Buch
07 Jan, 2014
New York City

Schulman net jumped 28%. Commercial Metals dropped 8%. IHS net declined 12%. Palo Alto Networks agreed to acquire Morta Security. Sonic net jumped 34%.

[R]11:30 AM New York – Schulman net jumped 28%. Commercial Metals dropped 8%. IHS net declined 12%. Palo Alto Networks agreed to acquire Morta Security. Sonic net jumped 34%.[/R]

A. Schulman Inc ((SHLM)) climbed 4.6% or $1.55 to $35.45 after the plastic resins supplier reported net sales in the first-quarter ending in November climbed 10% to $585.4 million.

Net income in the quarter jumped 28% to $15.1 million or 52 cents per diluted share compared to $11.8 million or 40 cents per share.

The company also announced the acquisition of Prime Colorants Inc, a custom colors and additive concentrates maker, for $15.1 million.

Commercial Metals Company ((CMC)) soared 5.4% or $1.06 to $20.84 after the steel and metal fabricator said net sales in the first-quarter ending in November dropped 4% to $1.68 million.

Net earnings in the quarter dropped 7.6% to $45.9 million or 39 cents per diluted share compared to $49.7 million or 42 cents per share.

Calavo Growers, Inc ((CVGW)) gained 3% or 90 cents to $30.58 after the fresh food provider stated revenue in the fourth-quarter ending in October surged 35% to $190.7 million.

Net income in the quarter was flat at $6 million or 40 cents per diluted share compared to $6.2 million or 42 cents per share.

IHS Inc ((IHS)) jumped 3.5% o $4.11 to $120.16 after the professional information services provider reported revenue in the fourth-quarter ending in November soared 35% to $560 million.

Net income in the quarter declined 12% to $40.8 million or 60 cents per diluted share compared to $46.4 million or 69 cents per share.

IHS expects revenue for the year in a range of $2.17 billion to $2.23 billion and adjusted earnings per diluted share between $5.50 and $5.85.

Palo Alto Networks Inc ((PANW)) climbed 3.6% or $2.06 to $59.43 after the network security platform provider agreed to acquire Morta Security, Internet security system developer. The companies did not disclosed terms of the deal.

Synergy Resources Corporation ((SYRG)) soared 4.9% or 42 cents to $9 after the oil and gas explorer said revenue in the first-quarter ending in November climbed 132% to $19.3 million.

Net income in the quarter soared 173% to $6.1 million or 8 cents per diluted share compared to $2.2 million or 4 cents per share.

Sonic Corporation ((SONC)) surged 7.3% or $1.401 to $20.65 after the fast-food restaurants chain operator said total revenue in the first-quarter ending in the November was nearly flat at $126.7 million. System-wide same-store sales for the quarter increased 2.2%.

Net income in the quarter jumped 34.4% to $8.2 million or 14 cents per diluted share compared to $6.1 million or 11 cents per share.