DCI, CLSN, FCS, XLNX, PII, VIA, CBS Popular Stocks
U.S. stocks were mixed Thursday, with the Dow Jones Industrial Average rose 0.25% to 10041. The S&P 500 jumped 0.24% to 1095 but the Nasdaq Composite index declined 0.15% to 2169.
Donaldson Co. (NYSE:DCI, $36.22, +$2.41, 7.13%) earned a bullish upgrade from Credit Suisse as the maker of filtration systems and replacement parts is poised to benefit from the growth in engine-aftermarket business. The firm upped Donaldson to outperform from underperform and said the aftermarket business is driven by a bottoming out of utilization rates that the market hasn’t baked in. The firm added “the extent to which can benefit from a cyclical recovery is underappreciated.”
Celsion Corp. (NASDAQ:CLSN, $3.50, -$0.01, -0.28%) announced it has received final approval from China to include Chinese clinical-trial sites in the late-stage study of its treatment for primary liver cancer.
Fairchild Semiconductor International Inc.’s (NYSE:FCS, $8.73, -$0.89, -9.20%) third-quarter profit plunged 90% amid weak demand and restructuring-related expenses, though results topped expectations. But the company gave an upbeat sales forecast for the current quarter – $333 million to $343 million – compared with analysts’ average estimate of $329 million, according to Thomson Reuters.
Xilinx Inc.’s (NASDAQ:XLNX, $23.70, -$0.30, -1.25%) fiscal second-quarter profit dropped 21%, although sales grew from the previous quarter in all regions and markets. The programmable-chip maker predicted fiscal third-quarter revenue above Wall Street’s expectations, and increased its quarterly dividend by 14% to 16 cents.
Polaris Industries Inc.’s (NYSE:PII, $49.10, +$5.10, 11.59%) third-quarter earnings fell a less-than-expected 17%, as the company said it cut operating costs amid a 25% drop in sales. The recreation-vehicle maker also boosted its earnings outlook for the year to $2.92 to $2.98 a share from $2.70 to $2.90.
Pali Capital said an announcement Wednesday by National Amusements Inc., Sumner Redstone’s family firm, douses any hope of Viacom Inc. (NYSE:VIA, $30.12, -$0.46, -1.50%) and CBS Corp. (NYSE:CBS, $13.20, +$0.68, 5.44%) shareholders escaping its control. “National Amusements will be essentially debt-free, while maintaining its iron-clad grip on both Viacom and CBS,” the firm said. Both CBS and Viacom also priced stock offerings late Wednesday – CBS’s 26 million-share offering priced at $12 a share, a 1.5% discount to Wednesday’s closing price, while Viacom’s 19.4 million share offering priced at $28.25 a share, a 7.6% discount.
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