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STOCK MOVERS

U.S. Movers: Gannett, First Data, Lab Corp. of America, Philips, Roper, Xerox


Author: Mukesh Buch
ticker.com
Last Update: 2:44 AM ET April 25 2016

12:00 PM New York Gannett offered to acquire Tribune Publishing for $815 million. First Data net loss narrowed. KKR net swung to a loss. Lab Corp. of America profit and revenues surged. Philips net tumbled 63%. Roper Technologies net fell but revenues rose. Xerox profit plummeted 85%.

Tollbooth Index fell 46.62 or 0.4% to 10,687.73.

Earnings Review

First Data Corp (FDC) soared 5.2% or 67 cents to $13.67 after the electronic payment solutions provider said revenues in the first-quarter ending in March rose 3% from a year ago to $2.78 billion.

Net loss in the quarter narrowed to $56 million or 6 cents per diluted share compared to $112 million from the same quarter last year.

Gannett Co (GCI) jumped 3.8% or 60 cents to $16.37 after the publisher of USA TODAY and more than 100 other media assets offered to acquire Chicago-based Tribune Publishing for about $815 million or $12.25 per share in cash, including the assumption of $390 million in debt.

Tribune Publishing Co surged 57.2% to $11.82.

KKR & Co. L.P (KKR) declined 4.2% or 63 cents to $14.31 after the asset management company stated revenues in the first-quarter ending in March plunged 44.1% from a year ago to $162.8 million.

Net in the quarter swung to a loss of $329.9 million or 73 cents per diluted share compared to profit of $270.5 million or 57 cents per share from the same quarter a year ago.

Laboratory Corp. of America Holdings (LH) gained 1.5% or $1.87 to $123.64 after the healthcare diagnostics company reported total revenues in the first-quarter ending in March soared 32.4% from a year ago to $2.37 billion.

Net income in the quarter surged 24.9% to $160.2 million or $1.55 per diluted share compared to $3.1 million or 4 cents per share from the same quarter last year.

In the quarter, the company recorded restructuring charges and special items of $29.3 million compared to $138.7 million in the same period a year ago.

Koninklijke Philips N.V (PHG) slumped 4.1% or $1.17 to $27.11 after the Netherlands-based technology company said sales in the first-quarter ending in March increased 3.4% from a year ago to 5.52 billion.

Net income in the quarter tumbled 63% to 37 million or 3 cents per diluted share compared to 100 million or 11 cents per share from the same quarter last year.

Roper Technologies Inc (ROP) rose 17 cents to $178.80 after the medical and industrial equipment maker reported net sales in the first-quarter ending in March advanced 4% from a year ago to $902.4 million.

Net income in the quarter fell 2.8% to $151.4 million or $1.48 per diluted share compared to $155.8 million or $1.54 per share from the same quarter last year.

In the second-quarter, the medical and industrial equipment maker estimated diluted earnings per share between $1.56 and $1.61.

Roper maintained its adjusted diluted earnings per share forecast in the full-year in the range of $6.85 to $7.15.

Xerox Corporation (XRX) tumbled 12.9% or $1.44 to $9.73 after the business process services provider stated revenues in the first-quarter ending in March declined 4% from a year ago to $4.3 billion.

Net income in the quarter plummeted 85% to $34 million or 3 cents per diluted share compared to $225 million or 19 cents per share from 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