WFMI, HURN, SANM, CI, RX, AGU, CF, OZRK Popular Stocks
U.S. stocks climbed Thursday as the Dow Jones Industrial Average increased 1.84% to 9982, the S&P 500 rose 1.67% to 1064 and the Nasdaq Composite gained 2.25% to 2102.
Whole Foods’ (NASDAQ:WFMI, $27.33, -$4.73, -14.75%) fiscal fourth-quarter earnings soared as revenue climbed and unusual items took less of a bite from the bottom line, leading the high-end grocer to declare that its sales have “officially turned the corner.” The company expects the sales growth to continue this fiscal year, however, its earnings view wasn’t as bullish as the Street’s. Also, it expects a holder to convert $425 million in preferred stock, which will balloon shares outstanding by 29.7 million shares.
Huron Consulting Group Inc (NASDAQ:HURN, $25.48, +$2.11, 9.03%) swung to a quarterly loss, hurt mainly by expected impairment charges, but its shares rose sharply on the hopes that the worst of the company’s problems are behind it. For the latest third quarter, net loss was $64 million, or $3.16 a share, mainly due to a non-cash goodwill impairment charge of $106 million. Adjusted net income was 59 cents a share.
Sanmina-SCI Corp. (NASDAQ:SANM, $8.34, +$1.71, 25.79%) reported a net loss for the fourth quarter of $32.3 million or $0.41 per share, compared to a loss of $473.9 million or $5.35 per share in the year-ago quarter.
Managed care company Cigna Corp.’s (NYSE:CI, $30.48, +$0.70, 2.35%) third-quarter profit soared 92 percent, as improving equity markets spurred a big turnaround in a discontinued business that hurt the insurer last year. Overall, the insurer earned $329 million, or $1.19 per share, in the three months that ended Sept. 30. That compared to $171 million, or 62 cents per share, in the same quarter of 2008. Revenue fell 8 percent to $4.5 billion.
Health-care data company IMS Health (NYSE:RX, $20.78, +$3.97, 23.62%) said it agreed to be acquired by private-equity firms TPG Capital and CPP Investment Board for $4.2 billion in cash, plus debt assumption of about $1 billion. The offer is for $22 a share, a 31% premium to Wednesday’s closing price.
Agrium Inc. (NYSE:AGU, $50.10, +$2.11, 4.40%) is taking one more run at acquiring CF Industries Holdings Inc. (NYSE:CF, $79.37, -$7.02, -8.13%), boosting the cash component of its offer by $5 a share and raising its bid for CF to a value of $93 a share. The tit-for-tat fertilizer buyout plans continued to drag on.
Bank of the Ozarks Inc. (NASDAQ:OZRK, $25.16, +$2.79, 12.47%) got upgrades from B. Riley and Stifel Nicolaus after saying it redeemed the $75 million in TARP preferred shares issued to U.S. Treasury. The bank holding company also submitted an offer to buy back the warrant for the common shares it issued in conjunction with that preferred stock. B. Riley raised the stock to buy on valuation, adding it doesn’t think the bank will need a capital raise despite the likelihood the redemption will reduce its total risk-based capital ratio.
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