United Natural Reports United Natural Higher Profit (GNOM, BX, WPRT, RIMG, UNFI)
Complete Genomics, Inc. (NASDAQ:GNOM) stock surged 10.29% to $2.25 in the pre-market hour after the company announced that it is taking steps to reduce cash consumption and has engaged Jefferies & Company, Inc. to assist it in exploring strategic alternatives. The company also plans to focus on development of clinical applications for its whole human genome sequencing service, while continuing to provide high-quality genomes to research customers.
The Blackstone Group L.P. (NYSE:BX) was upgraded by research analysts at Goldman Sachs to a “buy” rating in a report released on June 1, 2012. The firm currently has a $16.00 target price on the stock. GS also added Blackstone to its conviction buy list.
Additionally, Blackstone is in talks to take ownership of about $2 billion of industrial properties from Walton Street Capital LLC as debt on the assets matures.
Westport Innovations Inc. (USA) (NASDAQ:WPRT) shares climbed 10.91% to $24.70 in the pre-market hour after the company announced that it has signed agreements with Caterpillar Inc. to co-develop natural gas technology for off-road equipment, including mining trucks and locomotives. Caterpillar and Westport will combine technologies including Westport High Pressure Direct Injection (HPDI) technology and Caterpillar’s off-road engine and machine product technology, to develop the natural gas fuel system.
Caterpillar will fund the development program. When the products go to market, Westport expects to participate in the supply of key components.
Rimage Corporation (NASDAQ:RIMG) today announced that Qumu has partnered with one of its key managed service providers to close a multi-year, multi-million dollar contract with a Fortune 50 corporation. This is the largest single transaction in Qumu’s history. Second quarter Qumu contracted commitments are now expected to be more than $6 million, an increase of more than $4 million from first quarter 2012 levels.
United Natural Foods, Inc. (NASDAQ:UNFI) stock gained 2.75% to $51.60 in the pre-market hour after the company’s third quarter profit increased from last year, reflecting improved margins and double-digit revenue growth.
The company posted third quarter net income of $29.03 million or $0.59 per share, higher than $23.36 million or $0.48 per share in the prior-year quarter. Net sales for the quarter grew 15.3% to $1.39 billion. Analysts expected the company to earn $0.56 per share on revenue estimate of $1.35 billion.
Looking forward, the company nor expects fiscal 2012 adjusted earnings in a range of $1.92 to $1.96 per share from the prior forecast in the range of $1.88 to $1.94 per share. The company now projects net sales in a range of $5.18 billion to $5.22 billion, up from the previously provided guidance range of $5.11 billion to $5.17 billion. Analysts are currently looking for full-year 2012 earnings of $1.91 per share on annual revenues of $5.16 billion.