NYSE/NASDAQ News: Telus, Walt Disney, AOL, Bed Bath & Beyond and more
Telus (TSE:T) (NYSE:TU) Wednesday posted its first quarter results that were overshadowed by its withdrawal of a proposal to end its dual-share structure just hours before the move was to be put to a vote.
Tim Hortons (TSE:THI) (NYSE:THI) said Wednesday its first quarter profits grew 10 percent on sales growth, but earnings fell short of analysts’ estimates.
For the three months that ended April 1, the Canadian coffee and baked goods giant posted net earnings of $88.8 million, or 56 cents per share, up 10 percent from $80.7 million, or 48 cents per share, a year ago.
Walt Disney Co. (NYSE:DIS) said late Tuesday that fiscal second-quarter earnings rose 21 percent on improved earnings at its ESPN and ABC television networks and theme parks.
The entertainment giant said for the three months ended March 31, it earned $1.14 billion, or 63 cents per share, compared with a profit of $942 million, or 49 cents, a year ago. Excluding items, Disney said it would have earned 58 cents per share.
TransCanada Corp. (NYSE:TRP)(NYSE:TRP) said Wednesday the company has secured firm commitments to go ahead with a $275 million oil terminal in Hardisty, Alberta.
The Hardisty terminal is the starting point and an important element of the Keystone XL pipeline, which has run into regulatory delays.
Food and beverage company Dean Foods (NYSE:DF) said Wednesday first-quarter net income nearly rose 50 percent, driven by stronger-than-expected growth across its operating segments.
Global internet company AOL (NYSE:AOL) reported a jump in first quarter profit after boosting advertising revenues. Net income rose to $21 million from last year’s figure of $4.7 million, a surge of almost 350 per cent.
Fertilizer producer Agrium (TSE:AGU) (NYSE:AGU) said fiscal first quarter profit dropped due to hedging losses and higher costs in the period, which masked a 23 percent rise in sales.
The Calgary, Alberta-based company sells everything from crop nutrients to potash, herbicide and also fungicide to the agricultural industry.
Bed Bath & Beyond (NASDAQ:BBBY) said Wednesday that it has struck a deal to buy Cost Plus (NASDAQ:CPWM) in an all cash transaction for $495 million, in an effort to expand its specialty food departments.
Shares in GlaxoSmithKline (LON:GSK) fell in morning trade in London after it went hostile with its bid to acquire the American biotech Human Genome Sciences (NASDAQ:HGS).
Europe’s largest drugs firm has lodged a US$13 a share, or US$6.2 billion, cash offer and said it won’t budge on the deal now on the table. It also said it won’t participate in HGS’ “strategic alternatives” review process.
For the three month period that ended March 31, first quarter net income increased 84.3 percent to $10.1 million in comparison to $5.5 million a year ago. On a diluted earnings per share basis, earnings increased 71.4 percent to 48 cents, compared to 28 cents in the first quarter of 2011.
Tech licensing firm Wi-LAN (NASDAQ:WILN)(TSE:WIN) reported fiscal first quarter earnings fell due to a $31.1 million debt financing charge, and forecasted second-quarter revenue
The Ottawa-based company develops, acquires and licenses a range of intellectual property tied to the communications and consumer electronics market.
For the first three months of 2011, Teva reported net income reached $859 million, or 97 cents per share, from $761 million, or 84 cents, in the year-earlier quarter. Adjusted earnings were $1.47 per share compared with $1.04.