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Market Update

BlackBerry to Acquire Good Technology, Allergan to Buy AqueSys


Author: Mukesh Buch
ticker.com
Last Update: 11:58 AM ET September 04 2015

11:55 AM New York Allergan agreed to acquire AqueSys for $300 million. BlackBerry agreed to acquire Good Technology for $425 million. Cooper net tumbled 49% but revenues jumped 7%. Esterline lowered annual outlook. UTi Worldwide net loss widened. VeriFone net swung to profit.

Tollbooth Index slipped 110.24 or 1.1% to 10,147.48.

Earnings Review

Allergan Plc formerly Actavis Plc, the Ireland-based privately held pharmaceutical company agreed to acquire a private clinical stage medical device maker AqueSys, Inc. for about $300 million and the transaction is expected to close in the fourth-quarter of this year.

BlackBerry Ltd (BBRY) gained 1.1% or 8 cents to $7.54 after the mobile phone maker agreed to acquire the U.S.-based privately held rival Good Technology Corp, secure mobility solution provider for about $425 million.

Cooper Companies Inc (COO) declined 5.5% or $8.85 to $152.40 after the medical devices and contact lenses maker reported revenues in the third-quarter ending in July jumped 7% from a year ago to $461.7 million.

Net income in the quarter tumbled 48.9% to $44.9 million or 91 cents per diluted share compared to $88.1 million or $1.80 from the same quarter last year.

Revenues in CooperVision business soared 10% to $385.5 million while revenues in CooperSurgical segment plummeted 8% to $76.2 million.

Esterline Technologies Corporation (ESL) plunged 6.8% or $5.55 to $76.37 after the aerospace and defense equipment maker stated revenues in the third-quarter ending in July dropped 2% from a year ago to $496.2 million.

Net income in the quarter plunged 26.7% to $28.5 million or 92 cents per diluted share compared to $38.9 million or $1.19 from the same quarter last year.

The company lowered revenues forecast for the 11-month fiscal year ending on October 2 in the range of $1.78 billion to $1.80 billion and diluted earnings per share between $4.35 and $4.45 compared to earlier estimated revenues range of $1.83 billion to $1.88 billion and earnings per share between $4.55 and $4.80.

Infoblox Inc (BLOX) declined 9.5% or $1.89 to $17.99 after the network automation services provider said revenues in the fourth-quarter ending in July soared 34% from a year ago to $87 million.

Net loss in the quarter narrowed to $4.7 million or 8 cents per diluted share compared to $9.5 million or 17 cents from the same quarter last year.

Infoblox forecasted total net revenue for the first-quarter in the range of $86 million to $88 million and Non-GAAP diluted earnings per share between 5 cents and 6 cents.

UTi Worldwide Inc (UTIW) plummeted 8.6% or 56 cents to $5.97 after the air and ocean freight services provider reported revenues in the second-quarter ending in July tumbled 16.5% from a year ago to $913.9 million.

Net loss in the quarter widened to $70.7 million or 70 cents per diluted share compared to $21.9 million or 24 cents from the same quarter last year.

VeriFone Systems Inc (PAY) slipped 1% or 32 cents to $30.73 after the electronic payment solution provider stated revenues in the third-quarter ending in July soared 7% from a year ago to $510 million.

Net in the quarter swung to a profit $9.5 million or 8 cents per diluted share compared to a loss of $29 million or 26 cents from the same quarter last year.

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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