2:10 PM New York – Cubic Corp sales dropped 5%. International Game net swung to a loss. Facebook plans to increase 50% staff in the London’s new headquarters in 2017. Macom plans to buy Applied Micro for $770 million. Symantec agreed to acquire rival Lifelock for $2.3 billion. Tyson Foods net surged 52%.
Tollbooth Index increased 60.34 or 0.6% to 11,019.30.
) plunged 9.2% or $4.55 to $44.70 after the secure communications services provider said sales in the third-quarter ending in September declined 5% from a year ago to $406.6 million.
Net in the quarter swung to a loss of $7.5 million or 29 cents per diluted share compared to the profit of $20 million or 74 cents per share from the same quarter last year.
The secure communications services provider forecasted revenues in fiscal 2017 between $1.51 billion and $1.56 billion; net income in the range of $10 million to $20 million and diluted earnings per share in the range of 40 cents to 80 cents.
) slid 77 cents to $117.02 and the social network services provider said it plans to increase 50% staff in the London’s new headquarters in 2017 with the addition of 500 new jobs.
“Many of those new roles will be high-skilled engineering jobs as the U.K. is home to our largest engineering base outside of the US,” vice-president for Europe, the Middle East and Africa Ms Mendelsohn of Facebook said.
Macom Technology Solutions Holdings Inc
) slumped 5.2% or $2.45 to $44.50 after the analog chipmaker intends to acquire cloud infrastructure provider Applied Micro Circuits Corp for about $770 million.
Under the terms, Macom offer $8.36 per share, comprising $3.25 in cash and 0.1089 of shares, represents a premium of 15% to closing price of Applied Micro.
The transaction is expected to close in the first-quarter of 2017.
) fell 8 cents to $23.75 after the cyber security services provider agreed to acquire its smaller rival and identity and fraud protection services provider Lifelock Inc for $24 per share or about $2.3 billion, including $750 million in debt.
The transaction is expected to close by March 2017.
International Game Technology Plc
dropped 3.8% or $1.15 to $29 after the lottery and gaming services provider reported revenues in the third-quarter ending in September jumped 5% from a year ago to $1.3 billion.
Net in the quarter swung to a loss of $1.9 million or 1 cent per diluted share compared to the profit of $7.1 million or 4 cents per share from the same quarter last year.
Tyson Foods, Inc
) tumbled 16.2% or $10.88 to $56.48 after meat processor said sales in the fourth-quarter ending on October 1 declined 12.8% from a year ago to $9.2 billion.
Net income in the quarter surged 51.6% to $391 million or $1.03 per diluted share compared to the $258 million or 63 cents per share from the same quarter last year.
Tyson forecasted earnings per share in the year in the range of $4.70 to $4.85 and estimated flat sales.