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Market Update

U.S. Movers: Buckeye, Flowers Foods, InterOil, Insys, Sina, Valspar


Author: Mukesh Buch
ticker.com
Last Update: 8:11 AM ET August 13 2013

11:55 AM New York Buckeye net plunged 36%. Flowers Foods profit surged 64% as sales soared 32%. InterOil net loss in the quarter narrowed. Sina said net in the quarter swung to a loss. Valspar net edged up. USA Compression net surged to $2.4 billion.

Buckeye Technologies Inc. (BKI) rose 2 cents to $37.28 after the producer of cellulose-based specialty products stated net sales in the fourth quarter ending in June grew 4% to $216 million. Net income in the quarter plunged 36% to $18 million or 45 cents a diluted share compared to $28.3 million or 71 cents.

Flowers Foods, Inc. (FLO) gained 4 cents to $23.56 after the bakery products maker reported sales in the second quarter ending in June soared 31.8% to $898.2 million. Net income in the quarter surged 63.7% to $46.5 million or 22 cents a diluted share compared to $28.4 million or 14 cents.

The company expects sales for the year to increase of 24.5% to 25.5% or $3.79 billion to $3.82 billion and earnings per share between 92 cents and 98 cents.

InterOil Corporation (IOC) plunged 10.1% or $8.47 to $75.51 after the energy company reported total revenue in the second quarter ending in June climbed 16% to $345.7 million. Net loss in the quarter narrowed to $13.2 million or 27 cents a diluted share compared to $31.7 million or 66 cents.

Insys Therapeutics, Inc. (INSY) surged 22.4% or $4 to $21.88 after the pharmaceutical company reported net revenue in the second quarter ending in June surged five-fold to $16.2 million from $3.5 million a year ago. Net in the quarter swung to a profit $4.55 million or 26 cents a diluted share compared to a net loss of $6.37 million or 68 cents.

Sina Corporation (SINA) climbed 4.4% or $3.56 to $83.91 after the China-based online media company said revenue in the second quarter ending in June surged 20% to $157.5 million. Net in the quarter swung to a loss $11.5 million or 17 cents a diluted share compared to a net income of $33.2 million or 49 cents.

For the third quarter, SINA expects non-GAAP net revenues between $176 million and $180 million.

The Valspar Corporation (VAL) plummeted 8.4% or $5.97 to $64.80 after the paint maker stated sales in the second quarter ending on April 26 flat to $1.03 billion. Net earnings in the quarter edged up 0.5% to $76.9 million or 87 cents a diluted share compared to $76.5 million or 80 cents.

USA Compression Partners, LP (USAC) slipped 1.9% or 48 cents to $24.48 after the oil equipment provider reported revenue in the second quarter ending in June soared 17% to $33.3 million. Net income in the quarter surged 141% to $2.4 billion or 8 cents a diluted share compared to $997 million or 7 cents.

Separately, the company today agreed to acquire compression assets from S&R Compression, LLC owned by Argonaut Private Equity for $187 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