Movers & Shakers
Sept. 28, 2010, 8:51 a.m. EDT · Recommend · Post:
Cognex, Entropic, Jabil, PolyMedix, Walgreen
Stocks expected to move significantly in trading on Tuesday include Cognex, Entropic Communications, Jabil Circuit, PolyMedix, Sterling Financial Corp. and Walgreen.
AkzoNobel /quotes/comstock/11i!akzoy (AKZOY 62.85, +0.25, +0.40%) , the Netherlands-based paints and specialty-chemicals company, set a medium-term goal of increasing revenue to 20 billion euros ($26.9 billion) while maintaining stable pretax-profit margins. The company also said it sees a “stable to rising dividend.” At the same time, AkzoNobel sounded a note of caution about a number of economic factors.
American Capital Agency Corp. /quotes/comstock/15*!agnc/quotes/nls/agnc (AGNC 26.00, -1.99, -7.11%) , the Bethesda, Md., real-estate-investment trust, began a public offering of 10 million shares. The underwriters have an option to sell 1.5 million more shares if demand warrants.
Cognex Corp. /quotes/comstock/15*!cgnx/quotes/nls/cgnx (CGNX 25.00, +2.11, +9.22%) the Natick, Mass., producer of machine-vision technology, lifted its third-quarter revenue estimate to a range of $74 million to $76 million from a prior range of $65 million to $68 million.
Entropic Communications Inc. /quotes/comstock/15*!entr/quotes/nls/entr (ENTR 9.19, -0.61, -6.22%) , the San Diego provider of solutions to connect home-entertainment systems, filed with the Securities and Exchange Commission to make a public offering of 10 million shares, with underwriters having an option on 1.5 million additional shares.
Jabil Circuit Inc.’s /quotes/comstock/13*!jbl/quotes/nls/jbl (JBL 13.13, -0.76, -5.47%) fourth-quarter net profit reached 27 cents a share, up from 3 cents earned in the final three months of fiscal 2009. Quarterly earnings on an adjusted amounted to 52 cents a share. The company’s revenue was $3.86 billion compared with $2.8 billion. Analysts surveyed by FactSet Research had forecast 48 cents a share on $3.67 billion of revenue. For its first quarter, Jabil forecast profit in a range of of 43 cents to 47 cents a share on revenue of $3.9 billion to $4 billion.
Paychex Inc.’s /quotes/comstock/15*!payx/quotes/nls/payx (PAYX 26.99, +0.06, +0.22%) fiscal first-quarter profit reached 36 cents a share from 34 cents in the year-earlier period. Revenue was $518.3 million, up from $500.2 million. Analysts had expected 34 cents a share on revenue of $507.8 million, according to the consensus of estimates compiled by FactSet.
PolyMedix Inc. /quotes/comstock/11k!pymx (PYMX 0.82, -0.02, -2.86%) , the Radnor, Pa., biotech firm, began a Phase II trial in Canada of PMX-30063, which it calls the first “systemic antibiotic specifically designed to mimic the activity of human host defense proteins, the body’s natural defense against bacterial infections.”
Spreadtrum Communications Inc. /quotes/comstock/15*!sprd/quotes/nls/sprd (SPRD 12.84, -0.73, -5.38%) , the Shanghai semiconductor-solutions designer, was downgraded to hold from buy at Auriga.
Penny stock Sterling Financial Corp. /quotes/comstock/15*!stsa/quotes/nls/stsa (STSA 0.75, +0.15, +25.00%) , the Spokane, Wash., parent of Sterling Savings Bank, said state and U.S. regulators lifted a cease-and-desist order against the subsidiary, reflecting improved operating results and other factors.
Walgreen Co. /quotes/comstock/13*!wag/quotes/nls/wag (WAG 32.73, +2.38, +7.84%) reported fourth-quarter net earnings reached 49 cents a share from 44 cents a year earlier. On an adjusted basis, the drugstore giant’s earnings for the three months ended Aug. 31 came in at 54 cents a share. Quarterly sales reached $16.87 billion from the prior year’s $15.7 billion. Analysts surveyed by FactSet had forecast a profit of 44 cents a share, on average, for the latest period.
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