12:10 PM New York – AMC received conditional approval of the proposed $1.2 billion acquisition of rival Carmike. Accenture net surged 22%. FedEx net rose. Finish Line tumbled after net loss widened. Nike profit jumped. Paychex net and revenues soared 7%.
Tollbooth Index fell 22.98 or 0.2% to 11,280.14.
AMC Entertainment Holdings Inc
) rose 20 cents to $33.65 after the U.S. antitrust approved with conditions to the theatrical services provider’s proposed $1.2 billion acquisition of smaller rival Carmike Cinemas Inc.
) declined 4.3% or $5.39 to $118.73 after the Ireland-based professional services provider reported revenues in the first-quarter ending in November advanced 6% from a year ago to $8.5 billion.
Net income in the quarter surged 22% to $1.1 billion or $1.58 per diluted share compared to the $869 million or $1.28 per share from the same quarter last year.
Accenture forecasted net revenues in the second quarter to jump between 5% and 8% or in the range of $8.15 billion to $8.40 billion.
In fiscal 2017, the professional services provider estimated revenues to increase between 5% and 8% and lowered diluted earnings forecast in the range of $5.64 to $5.87 compared to the earlier estimated range of $5.75 to $5.98.
The Coca-Cola Co
) edged up 2 cents to $41.68 after the non-alcoholic beverage maker agreed to acquire 54.5% stake in Africa''s largest Coke bottler from the Belgium-based brewer Anheuser Busch Inbev SA NV for about $3.15 billion.
Separately, the Coca-Cola also agreed to acquire stake in bottling operations in Botswana, El Salvador, Honduras Lesotho, Swaziland, Zambia and Zimbabwe from AB InBev for an undisclosed amount.
The transactions are expected to close by the end of 2017.
) slumped 2.6% or $5.14 to $193.55 after the parcel and freight delivery services provider reported total revenues in the second-quarter ending in November jumped 20% from a year ago to $14.9 billion.
Net income in the quarter increased 1% to $700 million or $2.59 per diluted share compared to the $691 million or $2.44 per share from the same quarter last year.
FedEx said operating profit in ground delivery segment and freight segment declined by 12% and 13% respectively.
Finish Line Inc
) tumbled 12.1% or $2.79 to $20.22 after the specialty retailer stated revenues in the third-quarter ending on November 26 rose 3% from a year ago to $371.7 million.
Comparable store sales in the quarter increased 0.7% while Finish Line Macy’s sales soared 33.2%.
Net loss in the quarter widened to $40.4 million or $1 per diluted share compared to the $21.8 million or 49 cents per share from the same quarter last year.
In the fourth-quarter, the footwear retailer estimated comparable store sales to decline between 3% and 5% and non-GAAP diluted earnings per share in the range of 68 cents to 73 cents.
The retailer forecasted comparable store sales in the fiscal year between flat to raise of 1% and non-GAAP diluted earnings per share in the range of $1.24 and $1.30.
) rose 18 cents to $51.97 after the athletic footwear, apparel and accessories developer said revenues in the second-quarter ending in November advanced 6% from a year ago to $8.2 billion.
Net income in the quarter jumped 7% to $842 million or 50 cents per diluted share compared to the $785 million or 45 cents per share from the same quarter last year.
) dropped 1% or 63 cents to $61.30 after the outsourcing and staffing services provider total revenues in the second-quarter ending in November jumped 7% from a year ago to $771.4 million.
Net income in the quarter soared 7% to $202.1 million or 56 cents per diluted share compared to the $189.2 million or 52 cents per share from the same quarter last year.
Payroll reaffirmed revenues in the fiscal 2017 to increase in the range of 3% to 4% and total service revenue is expected to increase in the range of 7% to 8%.
Stanley Black & Decker, Inc
) fell 14 cents to $117.07 after the electronic security provider agreed to sell its majority stake in mechanical security businesses to Dormakaba for $725 million in cash but retained its commercial electronic security and automatic doors businesses.
The transaction is expected to close during the first-quarter of 2017.