After-Hours Movers 4/14: UPS, LSTR, YUM, JBHT Higher; REVU, GNV, MGM, MAC, KRC, MTXX Lower
The Princeton Review, Inc. (NASDAQ: REVU) 10.5% LOWER; announced today that it intends to offer, subject to market and other conditions, 14 million shares of its common stock in an underwritten public offering.
GSC Investment Corp. (NYSE: GNV) 9.4% LOWER; today announced that Saratoga Investment Advisors, LLC and CLO Partners LLC have agreed to purchase a minority stake in the Company as part of a $55 million recapitalization plan to enable the Company to grow its business of lending to middle-market companies. The Company has been in default under its credit facility since last July. The recapitalization plan includes Saratoga and CLO Partners purchasing approximately 9.8 million shares of common stock of GSC Investment Corp. for $1.52 per share pursuant to a definitive stock purchase agreement for a minority investment, pro forma for the issuance of the new shares, of approximately 37% of the Company's equity.
MGM Mirage (NYSE: MGM) 5.8% LOWER; announced today that it proposes to offer, subject to market and other conditions, up to $750 million in aggregate principal amount of convertible senior notes due 2015 in a private placement. The Company plans to use the net proceeds from the offering to repay a portion of its outstanding indebtedness under its senior credit facility. Also said it sees a Q1 loss of $0.22, which compares to the Street estimate looking for a loss of $0.21. Issues preliminary quarterly sales of about $1.46 billion, which compares to the consensus estimate of $1.43 billion.
Macerich (NYSE: MAC) 4.2% LOWER; lowers its FY10 FFO guidance from $2.90-$3.10 to $2.70-$2.90, which compares to the Street estimate of $3.03. The company also announced that it will offer 18.5 million shares of common stock.
UPS (NYSE: UPS) 4% HIGHER; expects to report quarterly non-GAAP EPS of $0.71, which compares to the current Street estimate of $0.58. Consolidated revenue for the period grew 7%, driven by increases of 18% in International Package and 14% in Supply Chain and Freight. International daily volumes grew significantly with export up more than 9% and non-U.S. domestic up over 24%. U.S. Domestic daily volume increased less than 1%, the first year-over-year growth in more than two years. As a result of the Q1 update, UPS raises its FY10 EPS guidance from $2.70-$3.05 to $3.05-$3.30. Analysts are currently looking for FY10 EPS of $2.95.
Kilroy Realty (NYSE: KRC) 3.7% LOWER; to offer 5.5 million shares of common stock.
Landstar System, Inc. (NASDAQ: LSTR) 3.2% HIGHER; reports Q1 EPS of $0.34, 2 cents better than the analyst estimate of $0.32. Revenue for the quarter was $548.1 million, which compares to the estimate of $517.97 million. Sees Q2 EPS of $0.44 - $0.49, versus $0.42 consensus.
YUM! Brands, Inc. (NYSE: YUM) 2.5% HIGHER; reports Q1 adjusted EPS of $0.59, 7 cents better than the analyst estimate of $0.52. Revenue for the quarter was $2.35 billion, which compares to the estimate of $2.26 billion. SSS up 4%.
Universal Forest Products Inc. (NASDAQ: UFPI) 2.3% LOWER; reports Q1 EPS of $0.05, 1 cent better than the analyst estimate of $0.04. Revenue for the quarter was $393 million, which compares to the estimate of $368.98 million.
Matrixx Initiatives (Nasdaq: MTXX) 1.8% LOWER; narrows and lowers its FY10 sales guidance from $68-$72 million to $67-$68 million. The Street is currently looking for FY10 sales of $71.81 million.
Northern Oil and Gas (NYSE: NOG) 1.7% LOWER; announces an offering of 5 million shares.
Mission West Properties Inc. (NYSE: MSW) 1.4% HIGHER; reports Q1 FFO of $0.16, versus $0.11 reported for the same period a year ago.
JB Hunt Transport Services, Inc. (NASDAQ: JBHT) 1.3% HIGHER; reports Q1 EPS of $0.29, 3 cents better than the analyst estimate of $0.26. Revenue for the quarter was $845 million, which compares to the estimate of $788.54 million.
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GSC Investment Corp. (NYSE: GNV) 9.4% LOWER; today announced that Saratoga Investment Advisors, LLC and CLO Partners LLC have agreed to purchase a minority stake in the Company as part of a $55 million recapitalization plan to enable the Company to grow its business of lending to middle-market companies. The Company has been in default under its credit facility since last July. The recapitalization plan includes Saratoga and CLO Partners purchasing approximately 9.8 million shares of common stock of GSC Investment Corp. for $1.52 per share pursuant to a definitive stock purchase agreement for a minority investment, pro forma for the issuance of the new shares, of approximately 37% of the Company's equity.
MGM Mirage (NYSE: MGM) 5.8% LOWER; announced today that it proposes to offer, subject to market and other conditions, up to $750 million in aggregate principal amount of convertible senior notes due 2015 in a private placement. The Company plans to use the net proceeds from the offering to repay a portion of its outstanding indebtedness under its senior credit facility. Also said it sees a Q1 loss of $0.22, which compares to the Street estimate looking for a loss of $0.21. Issues preliminary quarterly sales of about $1.46 billion, which compares to the consensus estimate of $1.43 billion.
Macerich (NYSE: MAC) 4.2% LOWER; lowers its FY10 FFO guidance from $2.90-$3.10 to $2.70-$2.90, which compares to the Street estimate of $3.03. The company also announced that it will offer 18.5 million shares of common stock.
UPS (NYSE: UPS) 4% HIGHER; expects to report quarterly non-GAAP EPS of $0.71, which compares to the current Street estimate of $0.58. Consolidated revenue for the period grew 7%, driven by increases of 18% in International Package and 14% in Supply Chain and Freight. International daily volumes grew significantly with export up more than 9% and non-U.S. domestic up over 24%. U.S. Domestic daily volume increased less than 1%, the first year-over-year growth in more than two years. As a result of the Q1 update, UPS raises its FY10 EPS guidance from $2.70-$3.05 to $3.05-$3.30. Analysts are currently looking for FY10 EPS of $2.95.
Kilroy Realty (NYSE: KRC) 3.7% LOWER; to offer 5.5 million shares of common stock.
Landstar System, Inc. (NASDAQ: LSTR) 3.2% HIGHER; reports Q1 EPS of $0.34, 2 cents better than the analyst estimate of $0.32. Revenue for the quarter was $548.1 million, which compares to the estimate of $517.97 million. Sees Q2 EPS of $0.44 - $0.49, versus $0.42 consensus.
YUM! Brands, Inc. (NYSE: YUM) 2.5% HIGHER; reports Q1 adjusted EPS of $0.59, 7 cents better than the analyst estimate of $0.52. Revenue for the quarter was $2.35 billion, which compares to the estimate of $2.26 billion. SSS up 4%.
Universal Forest Products Inc. (NASDAQ: UFPI) 2.3% LOWER; reports Q1 EPS of $0.05, 1 cent better than the analyst estimate of $0.04. Revenue for the quarter was $393 million, which compares to the estimate of $368.98 million.
Matrixx Initiatives (Nasdaq: MTXX) 1.8% LOWER; narrows and lowers its FY10 sales guidance from $68-$72 million to $67-$68 million. The Street is currently looking for FY10 sales of $71.81 million.
Northern Oil and Gas (NYSE: NOG) 1.7% LOWER; announces an offering of 5 million shares.
Mission West Properties Inc. (NYSE: MSW) 1.4% HIGHER; reports Q1 FFO of $0.16, versus $0.11 reported for the same period a year ago.
JB Hunt Transport Services, Inc. (NASDAQ: JBHT) 1.3% HIGHER; reports Q1 EPS of $0.29, 3 cents better than the analyst estimate of $0.26. Revenue for the quarter was $845 million, which compares to the estimate of $788.54 million.
To get this report daily, visit http://www.streetinsider.com/entities/After-Hours+Movers.
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