Sealed Air Corp Plunges On Poor Earnings (PRX, RDC, SBH, SEE, SHO)

Sealed Air Corp Plunges On Poor Earnings (PRX, RDC, SBH, SEE, SHO)

Par Pharmaceutical Companies Inc (NYSE:PRX) went up 0.28% to $50.07 after the Company reported second quarter results. Net income was $51.3 million or $1.38 per share compared to $9.05 million or $0.25 per share in the prior year period. However, analysts projected earnings of $1.08 per share for the quarter. Total revenues were $294.3 million compared to $224.19 million in the prior year period. However, analysts expected revenues of $289.54 million. The increase profit for the second quarter was due to improve in revenue benefiting from the launch of sleep disorder drug Modafinil.

Rowan Companies PLC (NYSE:RDC) decreased 3.22% to $34.53 after the Company released second quarter results. Net income was $49.4 million or $0.40 per share compared to $465.9 million or $3.65 per share in the second quarter of 2011. The revenues increased 57% to $351.0 million in the second quarter of 2012 due primarily to incremental activity from fleet additions and higher utilization and day rates for existing rigs between periods. Operating income was $70.4 million in the second quarter of 2012.

Sally Beauty Holdings Inc (NYSE:SBH) went down 0.11% to $26.21 after the Company released third quarter results. Net sales increased 6.0% to $887.0 million. The increase in sales was due to same store sales growth, addition of new stores and acquisitions. Consolidated gross profit for the fiscal 2012 third quarter was $444.4 million. Adjusted EBITDA was $155.7 million compared to $132.7 million in the prior year period.

Sealed Air Corp (NYSE:SEE) plunged 17.66% to $13.02 after the Company reported second quarter results. Net loss was $13.7 million or $0.07 loss per share compared to profit of $65.0 million or $0.37 per diluted share in the last year. Sales were $2.00 billion versus $1.21 billion in the prior year quarter. The Company has lowered its adjusted earnings per share guidance range of $1.00 to $1.10 and cash earnings per share range of $1.60 to $1.70 for 2012.

Sunstone Hotel Investors Inc (NYSE:SHO) is up 0.20% to $9.82. Baird upgraded the rating on the stock and the price target remains at $12.