12:00 PM New York – P&G agreed to sell its 43 beauty brands to Coty for $12.5 billion. Barracuda net swung to a loss but revenues jumped 18%. Dover lowered fiscal outlook. Helen of Troy net surged 24%. PriceSmart revenues soared 13%. PTC lowered revenues and earnings forecast.
Tollbooth Index gained 0.9% or 90.36 to 10,668.18.
Barracuda Networks Inc
) tumbled 19.1% or $7.46 to $31.66 after the security and storage solutions provider said total revenues in the first-quarter ending in May jumped 17.7% to $77.9 million from a year ago period.
Net in the quarter swung to a loss of $3.8 million or 7 cents per diluted share compared to profit of $0.2 million or break even from the same quarter last year.
) dropped 2.9% or $1.96 to $65.28 after the testing equipment maker lowered revenues forecast for the year to decline between 8% and 9% compared to earlier forecast of fall between 4% and 6% and earnings per share in the range of $4.20 to $4.40.
Helen of Troy Limited
) plunged 10.4% or $7.18 to $89.90 after the Bermuda-based consumer products maker said net sales in the first-quarter ending in May climbed 10.8% to $345.3 million from a year ago period.
Net income in the quarter surged 24.4% to $20.4 million or 70 cents per diluted share compared to $16.4 million or 55 cents from the same quarter last year.
The company forecasted net revenues for the year between $1.485 billion and $1.536 billion and diluted earnings per share in the range of $4.33 to $4.73.
Procter & Gamble Co
) rose 31 cents to $80.96 after the consumer packaged goods maker agreed to sell its 43 beauty brands to Coty, Inc. for about $12.5 billion including includes it''s beauty business, global salon professional hair care and color, retail hair color, cosmetics and fine fragrance businesses..
The transaction is expected to close in the second half of 2016.
) increased 1.7% or $1.52 to $93.37 after the discount stores operator said total revenues in the third-quarter ending in May soared 13.3% to $697.1 million from a year ago period.
Comparable warehouse sales in the quarter jumped 4%.
Net income in the quarter edged down 0.5% to $21.2 million compared to $21.3 million and diluted earnings per share were flat at 70 cents from the same quarter last year.
) declined 5.2% or $2.13 to $38.65 after the software and services provider lowered its revenues forecast for the third-quarter ending in June of about $304 million and earnings per share between 51 cents and 52 cents.