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STOCK MOVERS

U.S. Movers: Bristol-Myers, Cintas, General Mills, Neogen, Nike, Red Hat


Author: Mukesh Buch
ticker.com
Last Update: 12:06 PM ET March 23 2016

11:55 AM New York Bristol-Myers plans to acquire privately held Padlock Therapeutics for $600 million. Cintas net soared 24% on 10% jump in revenues. Fred''s net loss narrowed. General Mills profit jumped 5%. Neogen net soared 12%. Nike profit surged 20%. Red Hat net soared 11%.

Tollbooth Index slid 13.94 to 10,645.77.

Earnings Review

Bristol-Myers Squibb Co (BMY) fell 36 cents to $62.45 after the biopharmaceutical products maker plans to acquire privately held autoimmune researcher Padlock Therapeutics for about $600 million.

Cintas Corporation (CTAS) dropped 3.4% or $3.09 to $87.26 after the business services provider said revenues in the third-quarter ending in February advanced 9.7% from a year ago to $1.2 billion.

Net income in the quarter soared 23.7% to $117.3 million or $1.05 per diluted share compared to $94.9 million or 80 cents per share from the same quarter last year.

Fred''s, Inc (FRED) slumped 7% or $1.05 to $13.97 after the general merchandise stores operator stated sales in the fourth-quarter ending in January jumped 10% from a year ago to $554.6 million.

Comparable store sales in the quarter increased 1.7%, the best sales performance since 2010.

Net loss in the quarter narrowed to $3.9 million or 11 cents per diluted share compared to $8.2 million or 22 cents per share from the same quarter last year.

Fred estimated total sales in the first-quarter to soar in the range of 8% to 12% and comparable store sales to increase between 1% and 3% and diluted earnings per share to be in the range of flat to 3 cents.

General Mills, Inc (GIS) rose 23 cents to $61.01 after the branded consumer foods maker reported net sales in the third-quarter ending in February slumped 8% from a year ago to $4 billion.

Net income in the quarter jumped 5.4% to $361.7 million or 59 cents per diluted share compared to $343.2 million or 56 cents per share from the same quarter last year.

Neogen Corporation (NEOG) declined 8.1% or $4.21 to $48.06 after the diagnostic test kits maker reported revenues in the third-quarter ending in February soared 12% from a year ago to $76.7 million.

Net income in the quarter surged 12% to $8.3 million or 22 cents per diluted share compared to $7.4 million or 20 cents per share from the same quarter last year.

Nike Inc (NKE) dropped 4.2% or $2.70 to $62.21 after the athletic footwear, apparel, equipment maker reported revenues in the third-quarter ending in February advanced 8% from a year ago to $8 billion.

Net income in the quarter jumped 20% to $950 million or 55 cents per diluted share compared to $791 million or 45 cents per share from the same quarter last year.

Red Hat Inc (RHT) slipped 5.1% or $3.88 to $71.80 after the open source software developer said total revenues in the fourth-quarter ending in February jumped 17% from a year ago to $543.5 million.

Net income in the quarter soared 11.1% to $53 million or 29 cents per diluted share compared to $47.7 million or 26 cents per share from the same quarter last year.

In the first-quarter, the software company estimated revenues between $558 million and $566 million while diluted earnings per share of about 28 cents.

Red Hat forecasted revenues in the year in the range of $2.38 billion to $2.42 billion and diluted earnings per share between $1.30 and $1.34.
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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