Kindred Healthcare Surges 23% (KND, IGT, PNRA, MOS)
Kindred Healthcare, Inc. (NYSE:KND) shares skyrocketed over 23% as the Centers for Medicare & Medicaid Services proposed phasing in over a three-year period a cut to reimbursement-payment rates for in-patient stays at long-term care hospitals. Moreover following the news, analyst at Jefferies upgraded the stock ) from Hold to Buy and lifted the price target by $2 to $13.
International Game Technology (NYSE:IGT) was up 0.82% to $16.03 after the company lifted its full year outlook. The company earned 21 cents per share in its second-quarter, down from a year ago profit of compared to $69.6 million, or 23 cents per share, a year ago. On an adjusted basis, the company would have earned 27 cents a share, beating analysts’ estimates by 2 cents. Revenue increased 13 percent to $541.2 million, also beating the $512 million expected by analysts.
IGT lifted its full year outlook to a range of 98 cents to $1.04 per share. The mid-point is above the 99 cents that analysts were looking for. In January, IGT forecast annual adjusted earnings of 93 cents to $1.03 per share.
Panera Bread Co (NASDAQ:PNRA) shares climbed 8.30% as the company posted better than estimated first-quarter profit, prompting the company to boost its full-year outlook The company said that it earned $41.2 million or $1.40 a share on revenue of $498.6 million, compared to a year ago profit of $32.8 million or $1.09 a share. Analysts were estimating the company to report $1.35 a share on revenue of $500.8 million.
Panera raised its 2012 earnings-per-share outlook to a range of $5.58 to $5.63 due to better-than-expected sales and improved operating margins. Panera previously called for 2012 earnings of $5.50 to $5.55 per share.
Mosaic Co (NYSE:MOS) gained 4.71% to $52.86 the company said it expects volumes for its potash and phosphate fertilizers to come at the upper end of its forecast issued in March for the fourth quarter of fiscal 2012, citing a rapid acceleration in demand.