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Market Update

U.S. Movers: American Superconductor, Casey’s, Capstone Turbine, Rentrak


Author: Mukesh Buch
ticker.com
Last Update: 11:19 AM ET June 14 2013

11:15 AM New York – American Superconductor declined as revenue plunged 29%. Casey’s General sales grew and net rose. Capstone Turbine net loss widened. Smithfield Foods profit declined 63%. NGL Energy net surged 60%.

American Superconductor Corporation (AMSC) tumbled 10.6% or 28 cents to $2.37 after the superconductor wire maker revenues in the fourth quarter ending in March plunged 29% to $20.4 million. Net loss in the quarter narrowed to $19.8 million or 35 cents a diluted share compared to $21.2 million or 42 cents.

For the first quarter, the company expects revenues increase $22 million and net loss less than $15 million, or 26 cents per share.

Casey’s General Stores, Inc (CASY) slipped 2.8% or $1.76 to $61.53 after the grocery supplier said total revenues in the fourth quarter ending in April increased 3% to $1.81 billion. Net income in the quarter rose 1% to $23.3 million or 60 cents a diluted share compared to $23 million or 60 cents.

Capstone Turbine Corporation (CPST) declined 7% or 9 cents to $1.19 after the turbine generator stated net sales in the fourth quarter ending in March advanced 6% to $35.4 million. Net loss in the quarter widened to $22.6 million or 7 cents a diluted share compared to $18.8 million or 7 cents.

Elan Corporation, Plc (ELN) climbed 7.5% or 95 cents to $13.56 after the drugmaker said it has authorized a formal sale process and invited Royalty Pharma to participate.

Earlier Royalty offered to buy Elan for $6.7 billion but the deal was rejected by the Elan managements.

Smithfield Foods, Inc. (SFD) rose 1 cent to $32.82 after the fresh meat and packaged meats products producer stated sales in the fourth quarter ending on April 28 grew 3% to $3.3 billion. Net income in the quarter declined 63% to $29.7 million or 21 cents a diluted share compared to $79.5 million or 49 cents.

The company added gross profit in the quarter dropped 18% to $281.4 million and operating profit plunged 53% to $72.9 million.

NGL Energy Partners LP (NGL) increased 1 cent to $29.40 after the vertically-integrated propane business reported total revenues in the fourth quarter ending in March soared 268% to $1.62 billion. Net income in the quarter surged 60% to $22.3 million or 39 cents a diluted share compared to $13.9 million or 47 cents.

Rentrak Corporation (RENT) dropped 4.8% or $1.12 to $22.18 after the media company said revenues in the fourth quarter ending in March jumped 16% to $28.5 million. Net loss in the quarter narrowed to $2.03 million or 17 cents a diluted share compared to $4.62 million or 41 cents.

Restoration Hardware Holdings, Inc. (RH) surged 16.9% or $9.94 to $68.90 after the home furnishing merchant reported net revenues in the first quarter ending on May 4 climbed 38% to $301.3 million. Comparable store sales surged 41%.

Net loss in the quarter widened to $0.2 million or a break even share compared to $3.7 million or 10 cents.

For the second quarter, the company expects net revenues in the range of $375 million to $380 million and adjusted net income between $15.7 million and $16.5 million and adjusted diluted earnings per share in the range of 40 cents to 42 cents.

For the year, the company estimated net revenues in the range of $1.47 billion to $1.51 billion and adjusted net income between $55.8 million and $58.2 million and adjusted diluted earnings per share in the range of $1.41 to $1.47.

Synutra International, Inc. ((SYUT) plunged 7.6% or 41 cents to $4.95 after the infant formula company said net sales in the fourth quarter ending in March decreased 1% to $72.9 million. In the quarter net swung to profit $3.27 million or 6 cents a diluted share compared to net loss $13.27 million or 23 cents.

The company added gross profit in the quarter tumbled 10% to $28.3 million.

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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