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Market Update

A. Schulman, International Speedway Rise; Argan, Team Fall


Author: Mukesh Buch
ticker.com
Last Update: 12:21 PM ET April 08 2014

12:25 PM New York Argan net surged 39%. A. Schulman net plunged 42% but revenue soared 14%. International Speedway profit climbed 47% and revenue rose 3%. Team said net loss in the quarter widened but revenues jumped 8%. Zep net swung to loss.

Argan, Inc (AGX) slipped 1.4% or 40 cents to $27.85 after the construction engineering company said revenue in the fourth-quarter ending in January increased 2.9% to $59.5 million.

Net income in the quarter surged 39.4% to $9.2 million or 63 cents a diluted share compared to $6.6 million or 46 cents.

A. Schulman Inc (SHLM) increased 1.5% or 56 cents to $36.88 after the plastic compounds maker stated revenue in the second-quarter ending in February soared 14.2% to $588.5 million.

Net income in the quarter plunged 41.9% to $6.9 million or 23 cents a diluted share compared to $11.8 million or 40 cents.

International Speedway Corporation (ISCA) gained 1.6% or 53 cents to $32.92 after the motor-sports entertainment provider reported revenue in the first-quarter ending in February rose 2.5% to $131.8 million.

Net income in the quarter climbed 47.4% to $19.9 million or 43 cents a diluted share compared to $13.5 million or 29 cents.

Team, Inc (TISI) fell 1% or 44 cents to $42.01 after the maintenance and inspection service provider said total revenue in the third-quarter ending in February jumped 8% to $163.2 million.

Net loss in the quarter widened to $1 million or 5 cents a diluted share compared to $0.5 million or 3 cents.

Zep, Inc (ZEP) rose 1.3% or 23 cents to $17.82 after the cleaning and maintenance chemicals provider reported net sales in the second-quarter ending in February dropped 3.4% to $157.8 million.

Net in the quarter swung to loss $0.7 million or 3 cents a diluted share compared to a profit of $2.8 million or 12 cents.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc