Ulta Salon Jumps On Earnings (CLMT, DNR, P, LYG, ULTA)
Calumet Specialty Products Partners, L.P(NASDAQ:CLMT) increased 4.80% to $4.34% to $22.60. The Company has signed a definitive agreement to acquire Royal Purple Inc for total consideration of approximately $335 million. The Royal Purple Acquisition is expected to close by the middle of July 2012.
Denbury Resources Inc (NYSE:DNR) soared 4.95% to $15.48. The Company announced the closing of its previously announced acquisition of Thompson Field for cash consideration of approximately $360 million. The Company funded the purchase with approximately $213 million of cash received from its property sales earlier this year and the remainder from borrowings under its revolving credit facility.
Denbury is increasing its most recent 2012 annual production estimates by 1,150 barrels of oil equivalent per day due to the acquisition.
Pandora Media Inc (NYSE:P) climbed up 2.82% to $10.57. The Company announced that Mazda has joined the growing roster of major car manufacturers who have announced plans to integrate Pandora into the radio of their vehicles. Mazda models that will feature Pandora are expected to be available at dealers beginning in the fall of 2012.
Lloyds Banking Group PLC (ADR) (NYSE:LYG) went up 4.40% to $1.66. The Company is selling a portfolio of GBP 809 million Australian corporate real estate loans to AET SPV Management Pty Limited for cash consideration of approximately GBP 388 million. The sale proceeds will be used to repay debt. The closing of the transaction is expected to occur in the third quarter.
Ulta Salon Cosmetics & Fragrance Inc (NASDAQ:ULTA) jumped up 10.65% to $96.69 after the Company released first quarter results. Net sales increased 22.8% to $474.1 million. Comparable store sales increased 10.1%. Gross profit increased 36.0% from 34.9% in the first quarter of fiscal 2011. Net income increased 49.7% to $34.9 million. Income per diluted share was $0.54 compared to $0.37 in the first quarter of fiscal 2011.