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Market Update

Schulman, Greenbrier Climb; CalAmp, Paychex Plunge


Author: Mukesh Buch
ticker.com
Last Update: 12:10 PM ET July 02 2014

12:05 PM New York Schulman net and sales soared. Constellation Brands net climbed nearly three-fold. CalAmp profit jumped 59%. Greenbrier surged after quarterly net swung to profit. Kroger completed acquisition of Vitacost.com. Paychex net soared 18%. UniFirst net climbed 8%.

A. Schulman Inc (SHLM) climbed 5.1% or $2.08 to $41.61 after the plastic compounds supplier said net sales in the third-quarter ending in May soared 17.7% to $645.7 million.

Net income in the quarter surged 265.9% to $19.1 million or 65 cents a diluted share compared to $5.22 million or 18 cents.

Separately, the company completed its acquisition of the specialty plastics business segment from Ferro Corporation for $91 million in cash.

Constellation Brands, Inc (STZ) jumped 3.4% or $3.04 to $91.42 after the beer, wine and spirits distributor reported net sales in the first-quarter ending in May surged 119.5% to $1.69 billion.

Net income in the quarter climbed nearly three-fold to $206.7 million or $1.03 a diluted share compared to $52.9 million or 27 cents.

CalAmp Corp (CAMP) plunged 10.5% or $2.31 to $19.75 after the wireless technology provider stated revenue in the first-quarter ending in May surged 10% to $59 million.

Net income in the quarter jumped 58.8% to $2.7 million or 7 cents a diluted share compared to $1.7 million or 5 cents.

Greenbrier Companies Inc (GBX) surged 11.2% or $6.44 to $64.15 after the railroad freight car equipment maker said revenue in the third-quarter ending in May climbed 36.8% to $593.3 million.

Net in the quarter swung to profit $33.6 million or $1.03 a diluted share compared to a net loss of $56.03 million or $2.10.

The Kroger Co (KR) slid 11 cents to $49.43 after the food retailer intends to acquire online vitamin seller Vitacost.com Inc. for $280 million or $8 per share in cash to expand online presence and access its shipping network and distribution centers.

Paychex, Inc (PAYX) declined 3.2% or $1.33 to $40.80 after the payroll and outsourcing solution provider reported total revenue in the fourth-quarter ending in May climbed 9% to $639 million.

Net income in the quarter soared 18% to $145.9 million or 40 cents a diluted share compared to $123.5 million or 34 cents.

UniFirst Corp (UNF) fell 17 cents to $106.68 after the workplace uniforms provider revenue in the third-quarter ending in May jumped 4.9% to $352.2 million.

Net income in the quarter climbed 7.7% to $30.9 million or $1.53 a diluted share compared to $28.7 million or $1.43.

The company forecasted revenues for the year between $1.38 billion and $1.39 billion and earnings per share in the range of $5.70 to $5.85.

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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