NuVasive Surged 19% Solid Q1 Earnings (NUVA, PCL, IPSU, GNK, FST)
NuVasive, Inc. (NASDAQ:NUVA) shares jumped 18.77% to $19.68 in the morning hour on an unusual volume of 3.07 million shares. The company reported first quarter revenue of $151.7 million, as compared to $124.5 million for the same quarter last year. On a GAAP basis, the company reported net income of $673 thousand, or $0.02 per share, for the first quarter 2012.
Looking forward, the company expects fiscal 2012 revenue of approximately $615 million, GAAP EPS of approximately $0.09 and Non-GAAP earnings per share (EPS) of approximately $0.93. Analysts are expecting the company to report revenue of $616 million and EPS of $0.94 for fiscal 2012
Plum Creek Timber Co. Inc. (NYSE:PCL) shares fell 4.88% to $39.99 in the morning hour on an above average volume of 1.51 million shares, 2x times its average volume after the company’s first-quarter earnings fell 24% owing to weaker earnings at its real-estate business.
The company reported a profit of $29 million, or $0.18 a share, as against $38 million, or $0.23 a share, a year earlier. Revenue increased 23% to $337 million. Analysts most recently projected $330 million.
Imperial Sugar Company (NASDAQ:IPSU) shares soared 58.27% to $6.41 in the morning hour on an unusual volume of 5 million shares, 10x times its average volume. Imperial Sugar Company and Louis Dreyfus Commodities LLC today announced a definitive agreement under which a subsidiary of Louis Dreyfus Commodities LLC will acquire Imperial Sugar through a cash tender offer and second step merger at $6.35 per share.
Genco Shipping & Trading Limited (NYSE:GNK) shares plunged 13.64% to $4.62 in the morning hour after the company posted a first quarter net loss of $33.1 million or $0.87 per share, as compared to a net income of $13.4 million or $0.38 per share last year. Total revenues for the quarter declined to $59.8 million from $101.4 million a year ago. Analysts expected the company to lose $0.70 per share on revenue estimate of $69.26 million.
Forest Oil Corporation (NYSE:FST) shares plummeted 12.01% to $11.72 in the morning hour after the company posted a wider first-quarter loss primarily due to lower production and weaker natural-gas prices.
The company reported a first-quarter net loss of $32.67 million or $0.29 per share, from $3.33 million or $0.03 per share in the same quarter last year. Total revenues for the quarter declined to $158.93 million, as against $166.86 million in the prior year quarter. Analysts expected the company to report earnings of $0.20 per share on revenues of $189.07 million for the quarter.