After-Hours Movers 06/12: (DELL) (JCP) Higher; (SMG) (CASY) (DDD) (END) Lower
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The Scotts Miracle-Gro Company (NYSE: SMG) 16.2% LOWER; provided a financial update for fiscal 2012 to reflect the pressures driven by lower-than-expected sales and unfavorable product mix. The Company said consumer purchases of its products at its largest retail partners in the U.S. are up 3 percent on a year-to-date basis, compared with 8 percent entering May. As a result, it expects to fall short of its previous guidance of 6 to 8 percent sales growth as well as adjusted earnings of $2.65 to $2.85 per share. The Street sees EPS of $2.80. An updated outlook will be provided when ScottsMiracle-Gro issues its third quarter financial results in early August.
Casey's General Stores (NASDAQ: CASY) 6.4% LOWER; reported Q4 EPS of $0.60, $0.07 worse than the analyst estimate of $0.67. Revenue for the quarter came in at $1.75 billion versus the consensus estimate of $1.74 billion. Sees further growth in 2013. Sees FY13 same-store grocery, other merchandise sales up 6.2 percent, gasoline gallons sold up 1 percent. Sees total number of stores up 4-6 percent.
3D Systems (NYSE: DDD) 5.1% LOWER; announces a proposed offering of up to $100 million in common stock.
Gigoptix (NYSE: GIG) 3.2% LOWER; filed a registration with the U.S. Securities and Exchange Commission to sell, from time to time, up to $20 million of Common Stock, Preferred Stock, Warrants, Debt Securities, or any combination thereof.
Dell (Nasdaq: DELL) 3% HIGHER; to initiate quarterly dividend of 8 cents per share. Click here to see the full report.
Endeavour International Corporation (NYSE: END) 3% LOWER; announces the commencement, subject to market conditions, of an underwritten public offering of shares of its common stock. In addition, Endeavour intends to grant the underwriter a 30-day option, solely to cover over-allotments, to purchase additional shares of its common stock.
Enerplus Corporation (NYSE: ERF) 2.7% LOWER; today reiterated production growth targets for 2012. Despite strength in its balance sheet, Enerplus said it will reduce its monthly dividend payment from C$0.18 per share to C$0.09 per share. The new dividend will be effective with the July payment, and will not impact the dividend payable on June 20th.
American Realty Capital Properties, Inc. (Nasdaq: ARCP) 2.4% LOWER; intends to offer, subject to market and other conditions, 3,000,000 shares of its common stock. The shares of common stock are being offered pursuant to a registration statement that the Company previously filed with the Securities and Exchange Commission. The registration statement has not yet been declared effective.
J. C. Penney Company, Inc. (NYSE: JCP) 1.6% HIGHER; in a letter to clients today, Bill Ackman's of hedge fund Pershing Square Capital made some extremely bullish comments on portfolio stock JCPenney. Among other things, he noted he was approached about a private equity takeover bid of the company at a large premium shortly when his firm first accumulated its stake. Click here to read the letter.
Star Scientific (Nasdaq: CIGX) 1.5% LOWER; filed to sell up to 10,835,254 Shares of Common Stock on behalf of selling stockholders.
Lakeland Industries (Nasdaq: LAKE) INDICATED HIGHER; announces it will explore strategic alternatives, including a possible sale.
Charles River (Nasdaq: CRAI) INDICATED LOWER; announced changes in the management consulting team that services the chemicals sector following the departure of a senior member of the CS team. As a result, the Company anticipates a significant reduction in the number of CS consulting staff. CS accounted for approximately 5% of aggregate firm net revenue in fiscal 2011. These changes will negatively impact net revenue during the remainder of fiscal 2012. This, coupled with the revenue deficit experienced in the first quarter of fiscal 2012, makes achieving full year, company-wide growth of approximately 6% unlikely. The Company continues to target company-wide utilization in the low to mid 70% range for the balance of the year and a fourth quarter non-GAAP operating margin of approximately 11%.
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Casey's General Stores (NASDAQ: CASY) 6.4% LOWER; reported Q4 EPS of $0.60, $0.07 worse than the analyst estimate of $0.67. Revenue for the quarter came in at $1.75 billion versus the consensus estimate of $1.74 billion. Sees further growth in 2013. Sees FY13 same-store grocery, other merchandise sales up 6.2 percent, gasoline gallons sold up 1 percent. Sees total number of stores up 4-6 percent.
3D Systems (NYSE: DDD) 5.1% LOWER; announces a proposed offering of up to $100 million in common stock.
Gigoptix (NYSE: GIG) 3.2% LOWER; filed a registration with the U.S. Securities and Exchange Commission to sell, from time to time, up to $20 million of Common Stock, Preferred Stock, Warrants, Debt Securities, or any combination thereof.
Dell (Nasdaq: DELL) 3% HIGHER; to initiate quarterly dividend of 8 cents per share. Click here to see the full report.
Endeavour International Corporation (NYSE: END) 3% LOWER; announces the commencement, subject to market conditions, of an underwritten public offering of shares of its common stock. In addition, Endeavour intends to grant the underwriter a 30-day option, solely to cover over-allotments, to purchase additional shares of its common stock.
Enerplus Corporation (NYSE: ERF) 2.7% LOWER; today reiterated production growth targets for 2012. Despite strength in its balance sheet, Enerplus said it will reduce its monthly dividend payment from C$0.18 per share to C$0.09 per share. The new dividend will be effective with the July payment, and will not impact the dividend payable on June 20th.
American Realty Capital Properties, Inc. (Nasdaq: ARCP) 2.4% LOWER; intends to offer, subject to market and other conditions, 3,000,000 shares of its common stock. The shares of common stock are being offered pursuant to a registration statement that the Company previously filed with the Securities and Exchange Commission. The registration statement has not yet been declared effective.
J. C. Penney Company, Inc. (NYSE: JCP) 1.6% HIGHER; in a letter to clients today, Bill Ackman's of hedge fund Pershing Square Capital made some extremely bullish comments on portfolio stock JCPenney. Among other things, he noted he was approached about a private equity takeover bid of the company at a large premium shortly when his firm first accumulated its stake. Click here to read the letter.
Star Scientific (Nasdaq: CIGX) 1.5% LOWER; filed to sell up to 10,835,254 Shares of Common Stock on behalf of selling stockholders.
Lakeland Industries (Nasdaq: LAKE) INDICATED HIGHER; announces it will explore strategic alternatives, including a possible sale.
Charles River (Nasdaq: CRAI) INDICATED LOWER; announced changes in the management consulting team that services the chemicals sector following the departure of a senior member of the CS team. As a result, the Company anticipates a significant reduction in the number of CS consulting staff. CS accounted for approximately 5% of aggregate firm net revenue in fiscal 2011. These changes will negatively impact net revenue during the remainder of fiscal 2012. This, coupled with the revenue deficit experienced in the first quarter of fiscal 2012, makes achieving full year, company-wide growth of approximately 6% unlikely. The Company continues to target company-wide utilization in the low to mid 70% range for the balance of the year and a fourth quarter non-GAAP operating margin of approximately 11%.
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