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Author: Mukesh Buch
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Last Update: 11:59 AM EST November 08 2017

11:55 AM New York Cable One plunged after executive chairman announced retirement. CGI Group net declined on one-time charges. Conduent net swung to a loss on weak revenues. Energizer net surged on hurricanes related revenues. Global Payments earnings beat estimates.


Tollbooth Index increased 19.16 to 13,327.64.

Earnings Review

Cable One Inc (CABO) plunged 7% or $48.32 to $641.77 after the cable services provider said revenues in the third-quarter ending in September soared 23.5% from a year ago to $253.8 million.

Net income in the quarter surged 51% to $31.5 million or $5.48 per diluted share from $20.9 million or $3.63 in the same quarter last year.

The cable services provider said residential data revenues increased 26% to $109.3 million and revenues in business services segment jumped 38.4% to $35.2 million.

CGI Group Inc (GIB) slumped 2.9% or $1.58 to $51.74 after Canada-based outsourcing services provider reported revenues in the fourth-quarter ending in September rose 2.5% from a year ago to C$2.6 million.

Net income in the quarter plunged 24% to C$208.5 million or 70 cents per diluted share from C$274.4 million or 89 cents in the same quarter last year.

The outsourcing services provider said it booked restructuring costs in the quarter of about $65.3 million.

CGI said contract booking in the year soared 104.1% to C$11.3 billion and generated C$1.4 billion in cash from operations from a year ago.

Conduent Inc (CNDT) declined 4.4% or 69 cents to $15.02 after the business process services provider stated revenues in the third-quarter ending in September plummeted 7% from a year ago to $1.5 billion.

Net in the quarter swung to a loss of $17 million or 9 cents per diluted share from profit of $1 million or 1 cent in the same quarter last year.

Conduent forecasted fiscal 2017 revenues to drop in the range of 4.5% to 6.5% but operating profit to jump about 5%.

Energizer Holdings Inc (ENR) advanced 2.2% or 92 cents to $42.72 after the household batteries manufacturer reported net sales in the fourth-quarter ending in September jumped 7.6% from a year ago to $465.1 million.

Net income in the quarter soared 57.9% to $34.1 million or 55 cents per diluted share from $21.6 million or 34 cents in the same quarter last year.

The household batteries manufacturer estimated fiscal 2017 net sales to increase low single digits and gross margin may be a essentially flat.

Forterra Inc (FRTA) surged 33.2% or $1.72 to $6.73 after the water-related infrastructure provider said net sales in the third-quarter ending in September rose 0.7% from a year ago to $444.3 million.

Net in the quarter swung to a loss of $11.5 million or 18 cents per diluted share from profit of $8.4 million or 19 cents in the same quarter last year.

In the fourth quarter, Forterra forecasted net loss between $16 million and $13 million and operating profit in the range of $20 million to $25 million.

Global Payments Inc (GPN) slipped 1.9% or $1.96 to $101.94 after the payment technology provider reported revenues in the third-quarter ending in September increased 9.1% from a year ago to $1 billion.

Net income in the quarter doubled to $110.7 million or 71 cents per diluted share from $55.5 million or 36 cents in the same quarter last year.

The payment technology provider estimated fiscal 2017 revenue in the range of $3.51 billion to $3.53 billion or growth of 23% to 24% and earnings per share in the range of $3.94 to $4.02.

Wolverine World Wide, Inc (WWW) jumped 3.3% or 86 cents to $27.32 after the casual footwear and apparel manufacturer said revenues in the third-quarter ending in September slumped 3.7% from a year ago to $581.3 million.

Net income in the quarter tumbled 51.9% to $23.2 million or 24 cents per diluted share from $48.2 million or 49 cents in the same quarter last year.
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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