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Market Update

U.S. Movers: Carnival, FactSet, Neogen, Paychex, Red Hat, Staples


Author: Mukesh Buch
ticker.com
Last Update: 12:40 PM ET September 25 2012

10:45 AM New York Carnival Corp profit nearly was flat and FactSet net jumped 19%. Neogen net climbed 12% and Red Hat net declined 13%. Paychex estimated fiscal revenues to increase as much as 6%. Staples announced restructuring. Vail Resorts lowers its fiscal outlook.

Carnival Corporation (CCL) gained 3.5% or $1.31 to $38.31 after the cruise company reported revenues in the third quarter ending in August slumped 8% to $4.68 billion from $5.06 billion in the same period of last year. Net income in the quarter was nearly flat to $1.33 billion or $1.71 a diluted share compared to $1.34 billion or $1.69 a share a year ago earlier.

The company forecasts for the 2012, net revenue yields to be flat to slightly down.

For full year 2012, non-GAAP diluted earnings per share to be in the range of $1.83 to $1.87 in line with the midpoint of June guidance between $1.80 and $1.90 per share.

For the fourth quarter, the company lowered non-GAAP diluted earnings between 7 cents to 11 cents per share from 28 cents per share of last year.

FactSet Research Systems Inc. (FDS) declined 4.4% or $4.56 to $98.13 after the financial information provider reported total revenues in the fourth quarter ending in August advanced 8% to $207.6 million from $191.9 million in the same period of last year. Net income in the quarter jumped 19% to $48.5 million or $1.08 per diluted share compared to $40.9 million or 88 cents per share a year ago.

The company expects revenues for the first quarter between $210 million and $213 million and earnings per diluted share in the range of $1.10 to $1.12, represents a growth of 11% to 13% from a year ago period.

Neogen Corporation (NEOG) climbed 6.4% or $2.59 to $42.59 after the medical equipments maker reported total revenues in the first quarter ending in August increased 9% to $49.7 million from $45.7 million in the same period of last year. Net income in the quarter climbed 12% to $6.71 million or 28 cents per diluted share compared to $6.0 million or 25 cents per share a year ago period.

The company said gross margin increased to 53.3% of sales compared to 50.3% from a year ago period.

The company added the quarter marked 74th consecutive profitable quarter from operations and 82nd of the past 87 quarters when the company reported increasing in revenues that includes of last 30 quarters.

Paychex, Inc. (PAYX) slipped 2.5% or 87 cents to $33.51 after the business services provider reported total revenues in the first quarter ending in August grew 3% to $578.2 million from $563.1 million in the same period of last year. Net income in the quarter increased 3% to $153.1 million or 42 cents per diluted share compared to $148.9 million or 41 cents per share a year ago.

The Paychex expects full year fiscal 2013 payroll revenue growth between 3% to 4% and human resource services revenue to increase 9% to 11%. Total service revenue to be in the range of 5% to 6% and net income of 5% to 7%.

Red Hat, Inc. (RHT) dropped 3.1% or $1.81 to $55.73 after the open source software provider reported total revenues in the second quarter ending in August soared 15% to $322.6 million from $281.3 million in the same period of last year. Net income in the quarter declined 13% to $35 million or 18 cents per diluted share compared to $40 million or 20 cents per share a year ago earlier.

Staples, Inc. (SPLS) declined 4.6% or 57 cents to $11.78 after the office products supplier plans to close fifteen more stores and pursue sale of European printing systems business and also plan to reduce retail square footage in North America by approximately 15% by the end of fiscal year 2015.

Staples expects total of nearly thirty stores to close and downsize thirty store and relocations in North America during fiscal year 2012.

Vail Resorts, Inc. (MTN) surged 10.1% or $5.37 to $58.10 after the holding company reported total revenues in the fourth quarter ending in July dropped 12% to $113.5 million from $108.7 million in the same period of last year. Net loss in the quarter edged down to $53.8 million or $1.50 per diluted share compared to $53.9 million or $1.49 per share a year ago quarter.

For the fiscal 2012, total revenues dropped 12% to $1.02 billion from $1.17 billion in the same period of last year. Net income in the year declined 19% to $16.4 million or 45 cents per diluted share compared to $34.5 million or 94 cents per share a year ago.

The company said loss from the operation in the fourth quarter widened to $80.9 million from $77.8 million a year ago period as revenues from mountain and lodging segments were slumped.

The company lowered its guidance and expects net income fiscal 2013 in the range of $50 million to $60 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