Notable 52-Week Highs and Lows of the Day 06/25: (SLB) (MON) (AERI) High; (COH) (MCP) (MTZ) Low
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52-Week High:Monsanto Company (NYSE: MON) $128.79. Monsanto posts Q3 EPS of $1.62, topping expectations by 6 cents. Monsanto adjusted its FY14 EPS outlook from $5.00 to $5.22 up to a range of $5.10 to $5.22. The Street is at $5.25. Updated EPS guidance continues to incorporate the effects related to agricultural industry headwinds, including an estimated $0.15 to $0.20 full-year EPS effect, largely related to currency fluctuations. The company also approved a $10 billion buyback plan.Aerie Pharma (Nasdaq: AERI) $29.71. Aerie Pharma ripped 41 percent higher after the company announced successful results of its Phase 2b trial for once-daily, quadruple-action Roclatan, a combination of Aerie’s triple-action Rhopressa with latanoprost, a prostaglandin analogue (PGA). Read more on the results here.HanesBrands (NYSE: HBI) $98.70. HanesBrands confidently higher after the company announced that it intends to acquire DBApparel of France from Sun Capital Partners, Inc., provided consultation with European and French works councils representing DBA employees is completed and customary closing conditions are met. Hanes’ transaction offer values DBA at €400 million on an enterprise basis (approximately $550 million at current exchange rates), or approximately 7.5 times EBITDA. Hanes intends to fund the acquisition with cash on hand and third-party borrowings. The post-synergy multiple is expected to be less than 4 times EBITDA. The acquisition could close as soon as the third quarter 2014.52-Week Low:
- Schlumberger Limited (NYSE: SLB) $113.43. Schlumberger held its 2014 Investor Conference yesterday and today. In part, the company said it sees FY17 EPS of $9 to $10, from an expected $5.68 in FY14. Presentations are available here.
- Coach, Inc. (NYSE: COH) $33.60. Coach is seeing some value buying today following a several session slide. Earlier, BofA/Merrill Lynch downgraded Coach from Neutral to Underperform and moved its price target from $38 down to $31.
- MasTec, Inc. (NYSE: MTZ) $27.96. MasTec lower today as analyst commentary on some of the company's largest pipeline partners has been negative today.
- Molycorp, Inc. (NYSE: MCP) $2.39. Molycorp dropped below the $2.50 per share level early on the session. The stock has closed lower for the last three-straight sessions and was finding some support at $2.70. Shares are now down 56 percent in 2014.