U.S. Movers: AZZ, Constellation Brands, Forest Lab, Monsanto, MSC

Mukesh Buch
08 Jan, 2014
New York City

AZZ net rose 20% as revenue climbed 32%. Constellation Brands net climbed 93%. Forest Lab agreed to acquire Aptalis Holdings from TPG Capital for $2.9 billion in cash. Monsanto profit climbed 8.5% and sales rose 7%. RPM Intl net soared 53%.

[R]11:45 AM New York – AZZ net rose 20% as revenue climbed 32%. Constellation Brands net climbed 93%. Forest Lab agreed to acquire Aptalis Holdings from TPG Capital for $2.9 billion in cash. Monsanto profit climbed 8.5% and sales rose 7%. RPM Intl net soared 53%.[/R]

AZZ Inc ((AZZ)) plunged 9.6% or $4.52 to $42.42 after the electrical equipment and components maker said revenue in the third-quarter ending in November climbed 32.1% to $197.8 million.

Net income for the quarter jumped 19.5% to $18.4 million or 72 cents per diluted share compared to $15.4 million or 60 cents per share.

Constellation Brands, Inc ((STZ)) surged 8.6% or $6 to $75.94 after the wine maker reported revenue in the third-quarter ending in November soared 88% to $1.44 billion.

Net income for the quarter climbed 93% to $211 million or $1.07 per diluted share compared to $109.5 million or 58 cents per share.

Forest Laboratories, Inc ((FRX)) surged 14.6% or $8.60 to $67.36 after the drug products maker agreed to acquire Aptalis Holdings Inc, the specialty pharmaceutical company from private equity firm TPG Capital LP for about $2.9 billion in cash.

The transaction is expected to close in the first half of 2014.

Monsanto Company ((MON)) jumped 2.9% or $3.34 to $116.15 after the agricultural products provider reported total net sales in the first-quarter ending in November advanced 6.8% to $3.14 billion.

Net income for the quarter climbed 8.5% to $368 million or 67 cents per diluted share compared to $339 million or 62 cents per share.

For the year, Monsanto expected earnings per share in the range of $5.02 to $5.22.

MSC Industrial Direct Co Inc ((MSM)) gained 49 cents to $81.90 after the metalwork and maintenance service provider net sales in the first-quarter ending in November soared 17.5% to $678.5 million.

Net income for the quarter dropped 8.5% to $59 million or 93 cents per diluted share compared to $63.2 million or $1 per share.

The company forecasted net sales in the second quarter between $660 million and $672 million and diluted earnings per share in the range of 83 cents to 87 cents.

RPM International Inc ((RPM)) increased 1.4% or 60 cents to $42.07 after the specialty chemicals maker stated net sales in the second-quarter ending in November climbed 5.3% to $1.02 billion.

Net income for the quarter soared 52.5% to $63.6 million or 48 cents per diluted share compared to $41.7 million or 31 cents per share.

The company expects sales growth for the year between 4% and 6% in industrial segment and consolidated net sales growth in the range of 5% to 7%.