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Market Update

KKR and CVC Plan to Acquire Holcim and Lafarge Units


Author: Mukesh Buch
ticker.com
Last Update: 12:08 PM ET June 04 2014

12:05 PM New York ABM Industries net declined 21% but revenue increased 5%. Ambarella net jumped 6% but sales soared 21%. Ascena Retail net rose 3% after sales edged up. Cyberonics profit surged 60% and revenue climbed 9%.

ABM Industries, Inc (ABM) slipped 1.6% or 43 cents to $26.46 after the cleaning and maintenance services provider said revenues in the second-quarter ending in April jumped 4.9% to $1.23 million.

Net income in the quarter declined 21.2% to $15.2 million or 27 cents a diluted share compared to $19.3 million or 35 cents.

Ambarella Inc (AMBA) jumped 1.9% or 45 cents to $25.11 after the high-definition video solution developer stated revenues in the fourth-quarter ending in April soared 21% to $33.9 million.

Net income in the quarter jumped 6% to $5.3 million or 17 cents a diluted share compared to $4.7 million or 16 cents.

Total cash and marketable securities on hand in the quarter climbed to $155.6 million compared to $104.3 million a year ago.

Ascena Retail Group Inc (ASNA) rose 5 cents to $16.45 after the specialty retailer revenues in the second-quarter ending on April 26 edged up 0.3% to $1.14 billion. Total comparable sales in the quarter dropped 1%.

Net income in the quarter rose 2.9% to $33.2 million or 20 cents a diluted share compared to $31.2 million or 19 cents.

Cyberonics, Inc (CYBX) plunged 5.4% or $3.25 to $56.43 after the medical device maker reported revenues in the fourth-quarter ending on April 25 climbed 9.5% to $74.8 million.

Net income in the quarter surged 60% to $18.4 million or 68 cents a diluted share compared to $11.5 million or 41 cents.

KKR & Co. L.P (KKR) gained 22 cents to $23.57 and the investment company and the U.K.-based CVC Capital Partners Ltd are planning to make offers for units that may be sold by cement makers Switzerland-based Holcim Ltd. and Lafarge SA to win regulatory approval for their $40 billion merger.

Holcim shares jumped as much as 2.6% to 80.05 francs in Zurich and Lafarge added 3.1% to 64.98 in Paris.

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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