Pre-Market News (ZZ, HRB, BMY, GES)

Pre-Market News (ZZ, HRB, BMY, GES)

Sealy Corporation (NYSE:ZZ) posted a second-quarter profit as the company recorded wider margins, reflecting higher pricing on luxury mattress sales. The company reported a second quarter profit of $1.68 million, or $0.02 a share, as compared with a year-earlier loss of $377,000, or less than a penny a share. Revenue decreased 2.9% to $312 million. Analysts expected the company to break even, on $312 million in revenue.

H&R Block, Inc. (NYSE:HRB) stock gained 1.06% to $15.25 in pre-market trading after the company posted a fourth quarter net income of $586.1 million or $1.99 per share, as compared to $658.6 million or $2.14 per share for the year-ago quarter. Income from continuing operations for the fourth quarter was $591.7 million or $2.01 per share, as compared to $642.8 million or $2.09 per share in the year ago quarter. Total revenue declined slightly to $2.00 billion from $2.05 billion in the same quarter last year. Analysts expected the company to earn $2.05 per share on revenue estimate of $2.01 billion for the fourth quarter.

Bristol Myers Squibb Co. (NYSE:BMY) shares climbed 0.78% to $34.79 in the pre-market session after the company’s Board of Directors declared a quarterly dividend of $0.34 per share on the $0.10 par value Common Stock of the corporation. The quarterly dividend will be payable on August 1, 2012, to stockholders of record at the close of business on July 6, 2012. The Directors also declared a quarterly dividend of $0.50 per share on the $2.00 Convertible Preferred Stock of the corporation, payable September 4, 2012, to stockholders of record at the close of business on August 10, 2012.

The Company’s Board of Directors also increased by $3 billion its authorization for the repurchase of the Company`s common stock. This adds to the current, active $3 billion-repurchase program, announced in May 2010, under which the Company has approximately $340 million remaining. This brings the total authorized to approximately $6 billion, of which approximately $3.34 billion remains to be used for future repurchases.

Guess?, Inc. (NYSE:GES) shares gained 1.77% to $28.80 in the pre-market after the company’s Board of Directors authorized a new program to repurchase, from time-to-time and as market and business conditions warrant, up to $500 million of its common stock. This new $500 million authorization is in addition to the existing $250 million repurchase authorization announced in March 2011, under which approximately $231 million has been used to repurchase approximately 8.2 million shares to date. Approximately $19 million remains available for repurchases under the existing $250 million authorization