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Market Update

FactSet Jumps, Korn-Ferry Drops; SolarCity Agrees to Acquire Silevo

Author: Mukesh Buch
Last Update: 12:24 PM ET June 17 2014

12:30 PM New York FactSet Research net dropped 4% despite revenue jumped 8%. Korn-Ferry net surged 74% on 9% revenue rise. Synutra Intl net swung to profit after sales surged 39%. SolarCity agreed to acquire Silevo Inc for $350 million.

FactSet Research Systems Inc (FDS) jumped 2.8% or $3.12 to $116.13 after the professional information services provider reported revenue in the third-quarter ending in May jumped 8% to $231.8 million.

Net income in the quarter dropped 3.6% to $51.5 million or $1.21 a diluted share compared to $53.4 million or $1.20.

Korn/Ferry International (KFY) declined 4.1% or $1.24 to $29.24 after the recruitment services provider stated total revenue in the fourth-quarter ending in April climbed 9% to $260.8 million.

Net income in the quarter surged 73.8% to $21.2 million or 43 cents a diluted share compared to $12.2 million or 25 cents.

Synutra International, Inc (SYUT) climbed 7.1% or 45 cents to $6.81 after the infant nutritional products maker reported net sales in the fourth-quarter ending in March surged 39% to $370.5 million.

Net in the quarter swung to profit $30.9 million or 54 cents a diluted share compared to a net loss of $63.9 million or $1.11.

The company forecasted revenue for the year to increase 20% or between $450 million to $500 million and net profit to climb at least 60% or in the range of $50 million to 60 million.

SolarCity Corporation (SCTY) surged 11.5% or $6.30 to $61.14 after the solar energy systems provider agreed to acquire Silevo Inc, a solar technology developer for $350 million.

Yingli Green Energy Hold. Co. Ltd (YGE) soared 9.4% or 33 cents to $3.85 after the China-based photovoltaic systems maker said total revenue in the first-quarter ending in March edged up to $432.2 million from $431.4 million a year ago.

Net loss in the quarter narrowed to $55 million compared to $98.5 million and loss per share dropped to 35 cents from 62 cents a year earlier.

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