Fossil Plunged On Lowered Outlook (FOSL, HCN, GTXI, IFF)

Fossil Plunged On Lowered Outlook (FOSL, HCN, GTXI, IFF)

Fossil, Inc. (NASDAQ:FOSL) shares plunged 25.18% to $94.10 in the pre-market hour after the company’s first-quarter earnings rose 4.2%, but the company cut its full-year outlook after a softening European economy contributed to slower-than-expected sales growth.

The company reported a first quarter profit of $58.1 million, or $0.93 a share, up from $55.8 million, or $0.86 a share, a year earlier. Sales rose 9.8% to $589.5 million. Its February projection was per-share earnings of $0.90 to 0.92 a share on 15% sales growth, below analysts’ estimates at the time.

Looking ahead, Fossil smashed its full-year earnings forecast to $5.30 to $5.40, down from $5.40 to $5.50 previously and below estimates from analysts for $5.56. However, the company upped its 2012 sales view to a rise of 16%.

For the current quarter, Fossil said it sees EPS of 77 cents to 79 cents, missing the Street’s view of 94 cents.

Health Care REIT, Inc. (NYSE:HCN) stock fell 0.71% to $56.25 in the pre-market hour after the company reported a first quarter profit of $57.5 million, or $0.19 a share, up from $31.8 million, or $0.15 a share, a year earlier. Revenue rose 77% to $435.4 million. Analysts had expected earnings of $0.32 a share on revenue of $418 million.

Looking forward, the company now expects fiscal 2012 net income in a range of $1.09 to $1.19 per share from $1.26 to $1.36 per share for fiscal 2012.

GTx, Inc. (NASDAQ:GTXI) shares climbed 19.67% to $3.68 in the early hour after the company said that the FDA removed its full clinical hold on the company’s Investigational New Drug application for Capesaris following the review by the FDA of the company’s complete response and its new Phase II clinical protocol.

The company additionally reported first quarter net loss of $11.1 million, as compared to a net loss of $2.6 million for the same period in 2011. Revenue for the first quarter 2012 was $1.8 million compared to $9.3 million for the same period in 2011.

International Flavors & Fragrances Inc. (NYSE:IFF) posted first-quarter net income of $81.06 million or $0.99 per share, as compared with last year’s $84.04 million or $1.03 per share. Adjusted earnings per share declined 3% to $1.00. Quarterly revenue was $710.62 million, down 1% from $714.27 million in the year earlier period. Analysts expected earnings per share of $1.00 on revenues of $713.24 million for the quarter.