10:35 AM New York – Apollo Group said quarterly net declined 37% and Coinstar cuts fiscal earnings outlook. LDK Solar swung to a quarterly loss. Coca-Cola plans to invest additional $3 billion in India by the end of the decade.
Apollo Group, Inc.
) advanced 9.3% or $3.01 to $35.48 after the private education provider reported revenue in the third quarter ending in May slipped 8.5% to $1.13 billion compared to $1.24 billion in the same period last year. Net income in the quarter declined 37% to $134.0 million or $1.13 per diluted share compared to $212.4 million or $1.52 per share a year ago earlier.
The company expects net revenue for fiscal 2012 of $4.2 billion to $4.3 billion and operating income excluding impact of special items will be $700 million to $740 million.
) decreased 1.4% or 95 cents to $64.45 after the automated retail solution provider stated impact of some part of asset purchase will decrease earnings per share for the full year 2012 from continuing operations between 40 cents and 50 cents per share and increase capital expenditures between $40 million and $45 million.
) gained 2.3% or 34 cents to $14.59 after the office products maker said sales in the first quarter ending in May fell 1% to $142.5 million compared to $143.3 million in the same period last year. Net income in the quarter plunged 66% to $3.9 million or 15 cents per diluted share compared to $11.4 million or 44 cents per share a year ago quarter.
H.B. Fuller Company
) soared 7.7% or $2.22 to $30.95 after the specialty chemical products maker said net revenue in the second quarter ending on June 2 soared 43% to $527 million compared to $368.4 million in the same period last year. Net income in the quarter tumbled 92% to $1.9 million or 4 cents per diluted share compared to $25.1 million or 50 cents per share a year ago period.
LDK Solar Co., Ltd.
) declined 6.4% or 13 cents to $1.89 after the China based photovoltaic products maker reported net sales in the first quarter ending in March plunged 74% to $200.1 million compared to $766.3 million in the same period last year. Net loss in the quarter swung to $185.2 million or $1.46 per diluted share compared to net income of $135.4 million or 95 cents per share a year ago quarter.
For the second quarter LDK Solar estimates revenue to be in the range of $220 million to $270 million and fiscal 2012 revenue to be between of $1.5 billion to $2.0 billion.
) rose 19 cents to $20.75 after the technology company said its subsidiary Redbox Automated Retail, LLC had completed the acquisition of certain assets of its parent and pay $100 million.
) slipped 2.2% or 73 cents to $32.31 after the computer peripherals said sales in the second quarter ending in May fell 1% to $2.48 billion compared to $2.50 billion in the same period last year. Net income in the quarter declined 10% to $34.4 million or 90 cents per diluted share compared to $31.4 million or 85 cents per share a year ago quarter.
SBA Communications Corporation
) rose 10 cents to $55.74 after the holding company said it agreed to acquire from certain affiliates of TowerCo that ownership of 3,252 tower sites in 47 states across the U.S. and Puerto Rico valued $1.45 billion.
SBA agreed to pay $1.2 billion in cash and 4.6 million in shares of SBA common stocks and transaction will be closed in the fourth quarter of this year.
The Coca-Cola Company
) fell 16 cents to $74.61 after the soft-drink maker plans to invest $5 billion in India from 2012 to 2020. Coca-Cola India has registered unit case volume growth of past 23 quarters out of 17 which have double-digit growth.
The Hershey Company
) increased 1.6% or $1.15 to $69.56 after the producer of chocolate reaffirmed its 2012 forecast. The company is still projecting reported earnings per share between $2.82 and $2.92, adjusted earnings per share between $3.11 and $3.17 on a full-year net sales growth of 7% to 9%, including Brookside acquisition.