J&J Sells Ortho-Clinical unit for $4 B to Carlyle

Mukesh Buch
31 Mar, 2014
New York City

AT&T directors authorized 300 million shares repurchase plan. Cal-Maine net surged 39% and sales climbed 10%. InterOil net swung to a loss. J&J agreed to sell its Ortho-Clinical unit to Carlyle Group for $4 billion. UTi Worldwide net loss narrowed.

[R]12:15 PM New York – AT&T directors authorized 300 million shares repurchase plan. Cal-Maine net surged 39% and sales climbed 10%. InterOil net swung to a loss. J&J agreed to sell its Ortho-Clinical unit to Carlyle Group for $4 billion. UTi Worldwide net loss narrowed.[/R]

AT&T Inc ((T)) increased 5 cents to $35.11after the company board of directors authorized the repurchase of up to 300 million shares and expects to maintain a net-debt-to-adjusted-EBITDA ratio in the 1.8 range or lower.

Cal-Maine Foods Inc ((CALM)) soared 7.4% or $4.14 to $61.58 after the shell eggs producer said net sales in the third-quarter ending on March 1 climbed 9.7% to $395.5 million.

Net income in the quarter surged 39.2% to $42.6 million or $1.77 a diluted share compared to $30.6 million or $1.27.

InterOil Corporation ((IOC)) jumped 2.9% or $1.82 to $65.23 after the Australia-based energy company reported revenue in the year ending in December jumped 6% to $1.40 billion.

Net in the year swung to a loss $40.4 million or 83 cents a diluted share compared to a profit of $1.60 million or 3 cents.

Johnson & Johnson ((JNJ)) gained 64 cents to $98.08 after the health care company agreed to sell its Ortho-Clinical Diagnostics unit to a private-equity firm Carlyle Group for about $4 billion. The deal is expected to close mid-year.

Time Warner Cable Inc ((TWC)) rose 1% or $1.42 to $137.29 after Charter Communications Inc. urged the shareholders of Time Warner to reject $45.2 billion buyout agreement that the company reached last month with Comcast Corp.

UTi Worldwide Inc ((UTIW)) plunged 8.7% or 98 cents to $10.28 after the air freight and logistics company revenues in the fourth-quarter ending in January fell 2.1% to $1.07 billion.

Net loss in the quarter narrowed to $50.7 million or 48 cents a diluted share compared to $142.8 million or $1.38.