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Market Update

U.S. Movers: Apollo, BMC, Mobile Mini, Sysco, Tyson Foods


Author: Mukesh Buch
ticker.com
Last Update: 11:37 AM ET May 06 2013

11:30 AM New York Apollo Global Management first quarter net soared 154%. BMC Software agreed to be acquired by investor group for $6.9 billion. Sysco third quarter net tumbled 42.8% and Westlake Chemical net climbed 40%.

Apollo Global Management, LLC (APO) jumped 2.6% or 71 cents to $27.30 after the alternative asset manager reported total revenue in the first quarter ending in March surged 69% to $1.31 billion. Net earnings in the quarter soared 154% to $249 million or $1.59 a diluted share compared to $98 million or 66 cents.

BMC Software (BMC) rose 8 cents to $45.50 after software services provider agreed to be acquired by private investor group led by Bain Capital and Golden Gate Capital together with GIC Special Investments Pte Ltd. for $46.25 a share in cash or about $6.9 billion.

The transaction is expected to close later this year.

Gran Tierra Energy Inc. (GTE) climbed 6.7% or 38 cents to $6.03 after the energy company stated revenue in the first quarter ending in March climbed 33% to $205.4 million. In the quarter, net income swung to $57.9 million or 20 cents a diluted share compared to net loss of $0.3 million or break even per share.

Inergy Midstream, L.P. (NRGM) dropped 2.9% or 72 cents to $23.44 after the gas storage firm and Crestwood Holdings LLC signing of definitive agree to create midstream partnership with a total enterprise value of nearly $7 billion.

McAfee the network security products reported it plans to buy Finland based Stonesoft Oyj a network firewall maker for approximately $389 million in cash.

Mobile Mini, Inc. (MINI) surged 10.5% or $3.06 to $32.05 after the portable storage solutions provider said total revenue in the first quarter ending in March jumped 13% to $97.9 million. Net income in the quarter surged 131% to $12 million or 26 cents a diluted share compared to $5.2 million or 12 cents.

National Health Investors, Inc. (NHI) gained 2.8% or $1.90 to $69 after the real estate company reported total revenue in the first quarter ending in March surged 17% to $28 million. Net income in the quarter plunged 17% to $15.7 million or 56 cents a diluted share compared to $18.4 million or 66 cents.

For the year, the company expects diluted earnings per share in the range of $2.71 to $2.76.

Onex Corporation, the Canadian private equity firm agreed to acquire TV ratings company Nielsen Expositions from its parent an affiliate of Nielsen Holdings N.V. for $950 million in cash. The transaction is anticipated to close in the second quarter.

Sysco Corporation (SYY) slipped 1.6% or 56 cents to $34.10 after food services provider said sales in the third quarter ending in March grew 4% to $10.9 billion. Net income in the quarter plunged 22% to $201 million or 34 cents a diluted share compared to $260 million or 44 cents.

Gross profit for the quarter rose 2.1% to $1.9 billion and operating income declined 23.2% to $337 million.

Tyson Foods, Inc (TSN) declined 4.4% or $1.10 to $23.83 after the food processing company reported sales in the second quarter ending in March rose 1.8% to $8.42 billion. Net income in the quarter tumbled 42.8% to $95 million or 26 cents a diluted share compared to $166 million or 44 cents.

Westlake Chemical Corporation (WLK) climbed 4.1% or $3.40 to $85.85 after the polymers and building products maker net sales in the first quarter ending in March dropped 16.4% to $864.7 million. Net income in the quarter climbed 40.4% to $123.3 million or $1.84 a diluted share compared to $87.8 million or $1.31.

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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