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Market Update

Prologis in $5.9 B Deal with KTR, Raytheon Buys Websense for $1.9 B


Author: Mukesh Buch
ticker.com
Last Update: 1:14 PM ET April 20 2015

1:00 PM New York Groupon sell 46% stake in South Korea based e-commerce site. Hasbro profit jumped 4%. Halliburton net loss widened. Lennox Intl net plunged 30%. Morgan Stanley net surged 60% on 10% increase in revenues. Prologis agreed to acquire KTR for $5.9 billion.

Tollbooth Index jumped 1% or 102.94 to 10,618.05.

Earnings Review

Groupon Inc (GRPN) jumped 2.4% or 17 cents to $7.37 after the online discount retailer agreed to sell 46% stake in South Korean e-commerce site Ticket Monster to KKR & Co. and Anchor Equity Partners for $360 million.

The transaction is expected to close in the second-quarter.

Groupon forecasted revenue in the first-quarter between $720 million and $770 million and earnings per share in the range of 1 cent to 3 cents.

Hasbro, Inc (HAS) surged 9.1% or $6.03 to $71.91 after toy maker said revenues in the first-quarter ending on March 29 climbed 5% from a year ago quarter to $713.5 million

Net income in the quarter jumped 3.7% to $26.7 million or 21 cents per diluted share compared to $32.1 million or 24 cents from the same quarter last year.

Halliburton Company climbed 3.5% or $1.62 to $48.51 after the oilfield services provider reported revenues in the first-quarter ending in March slipped 2.7% to $7.1 billion from a year ago period.

Net loss in the quarter widened to $643 million or 76 cents per diluted share compared to $622 million or 73 cents from the same quarter last year.

Lennox International Inc (LII) declined 3.1% or $3.46 to $107.93 after the heating and cooling systems provider said net sales in the first-quarter ending in March fell 1.4% to $685.8 million from a year ago period.

Net income in the quarter plunged 30.1% to $13.9 million or 31 cents per diluted share compared to $19.9 million or 40 cents from the same quarter last year.

Morgan Stanley (MS) gained 1.2% or 44 cents to $37.19 after the financial and brokerage services provider reported net revenues in the first-quarter ending in March climbed 10% to $9.9 billion from a year ago period.

Net income in the quarter surged 60% to $2.31 billion or $1.18 per diluted share compared to $1.45 billion or 74 cents from the same quarter last year.

The company said institutional securities net revenues soared 17% to $5.5 billion and revenues from wealth management net revenues climbed 6% to $3.8 billion. Revenues from investment management tumbled 11% to $669 million.

Prologis Inc (PLD) rose 38 cents to $43.26 after the industrial real estate developer agreed to acquire industrial-property owner KTR Capital Partners and its affiliates for $5.9 billion.

Separately, the company said total revenues in the first-quarter ending in March jumped 6.5% to $462.8 million from a year ago period.

Net income in the quarter surged to $345.2 million or 65 cents per diluted share compared to $4.7 million or 1 cent from the same quarter last year.

Raytheon Company (RTN) fell 29 cents to $107.43 after the aerospace and defense products maker agreed to acquire network security provider Websense Inc from private equity firm Vista Equity Partners LLC for about $1.9 billion including debt.

SunTrust Banks, Inc (STI) increased 1.3% or 54 cents to $41.95 after the financial services provider said total revenues in the first-quarter ending in March dropped 2% to $1.99 billion from a year ago period.

Net income in the quarter increased 7% to $411 million or 78 cents per diluted share compared to $393 million or 73 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