U.S. Stocks Open Broadly Higher After Jobs Data -2-
02/01/2013| 07:16am US/Eastern
Eastman Chemical Co. (>> Eastman Chemical Company) swung to a fourth-quarter loss as the chemical-and-materials manufacturer recorded expenses related to asset impairments, restructuring and a recent acquisition. The company raised its 2013 adjusted earnings guidance.
Electro Scientific Industries Inc. (>> Electro Scientific Industries, Inc.) swung to a fiscal third-quarter profit on patent-related settlement proceeds, although it recorded an adjusted loss and lower revenue. The laser-systems manufacturer gave downbeat guidance for the current quarter.
Essex Property Trust Inc.'s (>> Essex Property Trust Inc) fourth-quarter earnings more than tripled as gains from co-investments boosted results for the West Coast owner of apartments, while funds from operations also improved.
Forest City Enterprises Inc. (FCEA, FCEB) said it currently has no definitive announcement to make on potential leadership succession, a response to recent media reports that the chief executive of Forest City Ratner Cos. intends to step down.
New home construction built up Fortune Brands Home & Security Inc. (>> Fortune Brands Home & Security Inc) sales growth in the fourth quarter, helping the home-fixtures and hardware company swing to a profit.
McKesson Corp.'s (>> McKesson Corporation) fiscal third-quarter earnings were down slightly as the medical-products distributor reported modest revenue growth that was offset by higher operating expenses. Adjusted earnings growth wasn't as strong as expected and the company lowered its fiscal year outlook.
NetSuite Inc.'s (N) fourth-quarter loss narrowed as the maker of cloud software continued to report strong demand from its business customers. The results beat analyst expectations.
PerkinElmer Inc.'s (>> PerkinElmer, Inc.) fourth-quarter loss narrowed as the manufacturer of health-testing equipment increased its revenue and recorded income-tax benefits.
PMC-Sierra Inc.'s (>> PMC-Sierra, Inc.) fourth-quarter profit fell 61% as the chip maker's revenue declined, though margins improved. Results topped analyst expectations.
Principal Financial Group Inc.'s (>> Principal Financial Group Inc) fourth-quarter profit rose 47% as the asset manager and insurer reported higher core earnings from retirement and investor services, and fewer investment losses.
Reinsurance Group of America Inc.'s (>> Reinsurance Group of America Inc) fourth-quarter profit rose 61% as the life reinsurer saw strong results from its North American businesses, and investment income jumped.
EveryWare Global Inc. will merge with ROI Acquisition Corp. (>> ROI ACQU) in a cash and stock deal that values the manufacturer and distributor of tableware at about $420 million.
Wynn Resorts Ltd.'s (>> Wynn Resorts, Limited) fourth-quarter profit fell 41% as the casino operator reported lower revenue in Macau.
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Stocks mentioned in the article : Eastman Chemical Company
, PerkinElmer, Inc.
, PMC-Sierra, Inc.
, Reinsurance Group of America Inc
, ROI ACQU
, Principal Financial Group Inc
, Electro Scientific Industries, Inc.
, Essex Property Trust Inc
, Fortune Brands Home & Security Inc
, McKesson Corporation
, Wynn Resorts, Limited