NYSE/NASDAQ SNAPSHOT: Rite Aid, Philip Morris, RIM, Bed Bath & Beyond and others
Rite Aid Corp. (NYSE:RAD) Thursday posted a first-quarter net loss of $28.1 million or $0.03 per share against a loss of $63.1 million or $0.07 per share. Revenues rose to $6.5 billion from $6.4 billion a year earlier.
The drugstore chain was expected to report a loss of four cents per share on $6.43 billion in revenue, according to Thomson Reuters.
This will make IAMGOLD the largest shareholder in INV with a 20 percent stake.
Murphy announced Steve Cosse as president and CEO and Roger Jenkins as COO, and Chesapeake appointed five new independent directors to its board.
The 10-cent decrease to between $5.10 and $5.20 a share follows a five-cent decrease in April. This compares with earnings of $4.85 in 2011.
Federal Signal Corporation (NYSE:FSS) announced Thursday it has signed a definitive agreement to sell its transportation technologies business to 3M (NYSE: MMM) for $110 million in cash, in an effort to reduce debt.
Key, which provides oilfield services such as drilling, fracking and transportation, now expects revenue to increase by 5-7 per cent in the second quarter, having initially hinted at growth of 10-15 per cent.
Used and new car retailer CarMax (NYSE:KMX) said fiscal first-quarter profit slipped amid lower margins and fewer new vehicles sold as it narrowly missed analyst expectations.
Net earnings slipped by four per cent to $120.7 million, or 52 cents per share, compared with the $125 million, or 54 cents per share, a year-earlier. Total sales rose to $2.77 billion from the $2.67 billion.
Earnings per share in the three months to 28 May rose by 2 per cent to 66 cents, though revenues dipped slightly to US$285 mln.
Global specialty chemicals company Cabot Corp (NYSE:CBT) said Thursday it has struck a deal with Doughty Hanson & Co. and Euroland Investments B.V. to purchase activated carbon product maker Norit, for $1.1 billion, in an effort to focus on higher margin and less cyclical business.
"Norit’s leading market position, unique technology and strong financial performance is an excellent fit with Cabot’s portfolio," said Cabot’s president and CEO, Patrick Prevost.
The North Carolina-based company offers Linux operating systems and open-source technology.
Research in Motion (NASDAQ:RIMM)(TSE:RIM) stock was kept at "Sell" by Northern Securities Thursday as the smartphone maker said new models would feature touch-screen keyboards rather than the physical keyboards.
In a research note, Northern Securities analyst Sameet Kanade said that chances were diminishing of a takeover bid for the company.
The Minneapolis, Minnesota-based company, which designs and engineers glass and metal building facades, posted a profit of $1.60 million, or six cents per share. This compares to a year-prior loss of $2.17 million, or eight cents per share.
The biopharmaceutical company’s shares jumped 40.89 per cent on the Nasdaq. This is Onyx’s biggest increase since November 2007.
San Jose, California-based Cypress upped its cash bid to $2.68 per share from the $2.48 a share offer it made earlier this month.
Under the deal’s terms, Genesis will pay $8.50 per share in cash, resulting in a transaction valued at $275 million including debt.
Celgene Corp (NASDAQ:CELG) saw its shares drop more than 11 per cent Thursday after it said it is withdrawing its new indication submission to European regulators for its Revlimid medicine to treat multiple myeloma, a type of blood cancer.
Micron Technology (NASDAQ:MU) late Wednesday dipped into the red in the third quarter as an increase in memory chip prices was not enough to make up for weak profit margins from its flash memory products.
For its fiscal third quarter, Micron posted a loss of $320 million, or 32 cents per share, compared with a year-earlier profit of $75 million, or 7 cents. Sales edged up 1.5 per cent to $2.17 billion.
The stock dropped 10 per cent in after-hours trading as the company predicted downbeat second-quarter earnings and saw its margins slide.
Cleveland BioLabs (NASDAQ:CBLI) said Thursday that its experimental medicine administered with chemotherapy showed complete tumour regression in mice.
The results were presented at the Advances in Neuroblastoma Research Association meeting on June 20, in Toronto.