11:15 AM New York – Cooper Tire agreed to be acquired by India based Apollo Tyres for $2.5 billion. Agilysys sales surged and net swung to profit. Oxford Industries net plunged 24%. Pfizer and Takeda get $2.15 billion for settlement of patent infringement. Ulta Salon soared after sales and net climbed.
) climbed 7.2% or 78 cents to $13.56 after the technology solutions provider reported net sales in the fourth quarter ending in March soared 21% to $63 million. In the quarter net swung to profit $0.3 million or 1 cent a diluted share compared to net loss of $17 million or 78 cents.
Cooper Tire & Rubber Co.
) surged 40.5% or $9.95 to $34.52 after the India based Apollo Tyres Ltd. agreed to acquire Cooper Tire for $2.5 billion or $35 a share.
Nathan’s Famous, Inc
) jumped 2.2% or $1.12 to $52.15 after the restaurant operator stated revenues in the fourth quarter ending in March grew 4% to $15 million. Net income in the quarter surged 44% to $1.56 million or 34 cents a diluted share compared to $1.08 million or 23 cents.
Oxford Industries, Inc.
) fell 5 cents to $64.40 after the apparel maker reported net sales in the first quarter ending on May 4 increased 1% to $234.2 million. Net earnings in the quarter plunged 24% to $13.6 million or 82 cents a diluted share compared to $18 million or $1.09.
The company added gross profit in the quarter increased 4% to $134.1 million and operating income tumbled 20% to $26.1 million.
For the second quarter, the company expects net sales in the range of $240 million to $250 million and diluted earnings per share between 92 cents and $1.02.
For the year, the company expects net sales between $930 million and $940 million and diluted earnings per share in the range of $3 to $3.15.
) rose 19 cents to $28.61 after the two generic-drug makers agreed to pay $2.15 billion in patent-infringement damages to Pfizer and Japan based Takeda Pharmaceutical Co. Limited for selling of low-cost version of heartburn reliever Protonix before the branded drug''s U.S. patent expired.
Under the settlement, Israel based Teva Pharmaceutical Industries Ltd. (TEVA
) will pay $1.6 billion and India based Sun Pharmaceutical Industries Ltd. will pay $550 million which ends a trial that began last week in federal court in Newark.
Ulta Salon, Cosmetics & Fragrance, Inc.
) soared 15.5% or $13.04 to $97.17 after the beauty retailer stated net sales in the first quarter ending on May 4 jumped 23% to $582.7 million. Comparable store sales for the quarter climbed 6.7%.
Net income in the quarter climbed 20% to $41.8 million or 65 cents a diluted share compared to $34.9 million or 54 cents.
For the second quarter, the company expects net sales in the range of $579 million to $589 million and diluted earnings per share between 64 cents and 67 cents.
Gross profit in the quarter soared 19% to $203.9 million and operating income jumped 18% to $67.7 million.