S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

U.S. Movers: Bank of Nova Scotia, Campbell Soup, Tiffany, Valeant

Author: Mukesh Buch
Last Update: 11:34 AM ET May 28 2013

11:25 AM New York Bank of Nova Scotia revenue and net jumped. Campbell Soup agrees to acquire Plum Organics. Fidelity National acquires LPS for $2.9 billion. Tiffany net rose as sales climbed. Valeant agree to acquire Bausch & Lomb in $8.7 billion in cash.

The Bank of Nova Scotia (BNS) slid 38 cents to $57.09 after the Canada based diversified financial institution reported total revenues in the second quarter ending in April jumped 11% to $5.22 billion. Net income in the quarter advanced 10% to $1.60 billion or $1.23 a diluted share compared to $1.46 billion or $1.15.

Canadian Solar Inc (CSIQ) surged 13.9% or $1.20 to $9.81 after the Canada based solar module products manufacturer said net revenues in the first quarter ending in March tumbled 19% to $263.6 million. Net loss in the quarter narrowed to $3.92 million or 10 cents a diluted share compared to $104.9 million or $2.43.

Gross profit in the quarter increased 2% to $25.6 million.

Campbell Soup Company (CPB) gained 30 cents to $45.94 after the food products maker agrees to acquire Plum Organics, the organic baby food products maker.

Fidelity National Financial, Inc (FNF) climbed 2.5% or 66 cents to $26.84 after the insurance and mortgage service provider acquires all of the outstanding common stock of LPS for $33.25 per share for total equity value of nearly $2.9 billion.

The transaction is expected to close in the fourth quarter of this year.

IXYS Corporation (IXYS) slipped 1.5% or 18 cents to $11.50 after the chip maker reported net sales in the fourth quarter ending in April slumped 23% to $66.9 million.The net swung to $1.95 million or 6 cents a diluted share compared to net profit $3.71 million or 11 cents.

In the quarter, gross profit tumbled 39% to $18.1 million and operating income plunged 95% to $0.76 million.

Tiffany & Co. (TIF) jumped 4.1% or $3.17 to $79.38 after the holding company stated net sales in the first quarter ending in April climbed 9% to $895.5 million. Net earnings in the quarter rose 3% to $83.6 million or 65 cents a diluted share compared to $81.5 million or 64 cents.

The company added gross profit in the quarter grew 7% to $503.2 million.

In the first quarter, total sales n Americas jumped 6% to $408 million and Asia-Pacific sales climbed 15% to $223 million and Japan sales increased 2% to $145 million. Sales in Europe rose 6% to $93 million.

For the year, Tiffany expects diluted earnings per share in the range of $3.43 to $3.53.

Seadrill Limited (SDRL) gained 2.4% or 96 cents to $40.88 after the Bermuda based oil and gas contractor stated net sales in the first quarter ending in March surged 21% to $1.27 billion. Net income in the quarter was nearly flat at $440 million or 85 cents a diluted share compared to $439 million or 87 cents.

Operating profit for the quarter jumped 21% $552 million.

Valeant Pharmaceuticals International, Inc (VRX) soared 7.1% or $6.04 to $90.52 after the pharmaceutical agrees to acquire Bausch & Lomb Holdings Inc, eye care and ophthalmic products maker for $8.7 billion in cash.

Bausch & Lomb will retain its name and become a division of Valeant.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc