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Market Update

AZZ, Synergy Resources Jump; CarMax, Global Payments Drop


Author: Mukesh Buch
ticker.com
Last Update: 12:12 PM ET April 04 2014

11:55 AM New York AZZ net soared 13% and revenue climbed 29%. CarMax net declined 7% but sales jumped 9% and the used car dealer announced $1 billion share repurchase. Global Payments profit fell 6% but revenue increased 7%. Micron Technology net swung to profit. Synergy Resources net surged 93%.

AZZ Inc (AZZ) soared 5% or $2.23 to $46.53 after the electrical equipment maker said revenue in the fourth-quarter ending in February climbed 28.9% to $181 million.

Net income in the quarter soared 13% to $10.2 million or 40 cents a diluted share compared to $13.2 million or 52 cents.

CarMax, Inc (KMX) dropped 2.7% or $1.31 to $46.25 after the used car dealer reported net sales in the fourth-quarter ending in February jumped 9% to $3.08 billion.

Net earnings in the quarter declined 7% to $99.2 million or 44 cents a diluted share compared to $107.2 million or 46 cents. Analysts were looking for 52 cents a share earnings.

The auto finance unit reported income increased 6.3% to $80.8 million and said sub-prime loan origination was $9.1 million.

The car dealer boosted its stock purchase program by $1 billion after completing the repurchase of $306 million in the fiscal year to the quarter.

Global Payments Inc (GPN) declined 4.1% or $2.96 to $68.68 after the electronic payments provider stated revenue in the third-quarter ending in February increased 7% to $616.5 million.

Net income in the quarter slipped 5.7% to $55.1 million or 76 cents a diluted share compared to $58.5 million or 75 cents.

Micron Technology, Inc (MU) increased 1.5% or 36 cents to $23.65 after the semiconductor device maker reported revenue in the second-quarter ending on February 27 rose 2% to $4.11 billion.

Net in the quarter swung to a profit $731 million or 61 cents a diluted share compared to a loss of $286 million or 28 cents.

Synergy Resources Corp (SYRG) climbed 3.6% or 38 cents to $10.79 after the oil and gas explorer stated revenue in the second-quarter ending in February surged 111% to $23 million.

Net income in the quarter surged 92.6% to $5.2 million or 7 cents a diluted share compared to $2.7 million or 5 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