Actuant Corporation Falls After Earnings (ATU, KR, COP, KITD, HOT)
Actuant Corporation (NYSE:ATU) slipped 5.32% to $25.99 after the Company reported third quarter results. Consolidated sales increased 9% to $429 million. Core sales increased 4% with acquisitions. Earnings were $34.4 million or $0.45 per share compared to $38.4 million or $0.51 in the comparable prior year quarter. The Company expects sales of $1.60-1.61 billion and EPS in the $2.03-2.08 range for 2012. The Company projects fiscal 2012 free cash flow to be in the range $180-185 million.
The Kroger Co (NYSE:KR) went up 0.44% to $22.81. The Company reported first quarter profit of $439.4 million or 78 cents per share compared to $432.3 million or 70 cents per share in the prior year period. Revenue increased 5.8% to $29.1 billion. However, analysts projected revenue of $29.13 billion. The board also authorized a $1 billion stock repurchase plan.
ConocoPhillips (NYSE:COP) declined 1.33% to $54.90. TheStreet Ratings restated a buy rating on the stock with a ratings score of B. The Company is expected to be an active bidder for the first drilling rights leases in the central Gulf of Mexico since the 2010 oil spill.
KIT digital Inc (NASDAQ:KITD) decreased 2.35% to $4.16. The Company announced a partnership with Civolution. Civolution is a leading provider of technology and solutions for identifying, managing and monetizing media content. KIT digital has integrated Civolution’s Automatic Content Recognition technology that will now deliver second screen interactivity to consumers with non-connected TV sets.
Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT) went up 1.27% to $53.56. The Company has reached a historic milestone with 103 hotels open and in operation and now another 100 signed hotel deals in the pipeline for Greater China. China is second largest market outside of the United States for Starwood. The Company has opened 11 hotels in China in 2012 and expects to open another 13 hotels by year’s end.