SUPERVALU INC. Soars On Robust Earnings (SVU, SMI, DELL, XRIT, WPI)
SUPERVALU INC. (NYSE:SVU) shares climbed 15.23% to $6.13 in the pre-market trading after the company reports fourth quarter better than expected earnings per share.
The company reported fourth-quarter net loss of $424 million or $2.00 per share, as against a profit of $95 million, or $0.44 per share last year. Analysts expected earnings per share of $0.35 for the quarter. Net sales declined to $8.23 billion from $8.66 billion in the earlier year period, while analysts estimated revenues of $8.31 billion for the quarter.
Semiconductor Manufacturing Int’l (ADR) (NYSE:SMI) shares closed at $2.40 in yesterday’s session after the company yesterday announced an upward revision of its first quarter revenue and gross margin guidance for the three months ended March 31, 2012.
The company now expects first quarter 2012 revenue guidance to report a sequential increase of 14% to 15%, from the original guidance of an increase of 7% to 9%. Gross margin is expected to be between 10% and 12% from the original guidance of between 4% and 7%.
Dell Inc. (NASDAQ:DELL) shares climbed 1.60% to $16.48 in the pre-market session. Dell Inc.’s (DELL) Indian unit today said that it has received an order from the customs department. The company didn’t exactly say what the order was about, but the Press Trust of India said that the department has ordered Dell’s India unit to pay warehousing and other charges to the importers.
Additionally, Dell has acquired Make Technologies, its third acquisition last week. The terms of the deal are not disclosed.
X-Rite, Incorporated (NASDAQ:XRIT) shares soared 39% to $5.56 in the pre-market session after Danaher Corporation today announced that it has entered into an agreement with X-Rite, pursuant to which Danaher will acquire X-Rite by making a cash tender offer to acquire all the outstanding shares of common stock of X-Rite at a purchase price of $5.55 per share, for an enterprise value of approximately $625 million, including debt assumed and net of cash acquired.
Watson Pharmaceuticals, Inc. (NYSE:WPI) shares closed at $66.59 in the previous trading session. The company today said that its subsidiary Watson Laboratories, Inc. has received approval from the United States Food and Drug Administration for its Abbreviated New Drug Application for Vancomycin Hydrochloride Capsules, USP, 125 mg and 250 mg, generic versions of ViroPharma Inc.’s Vancocin HCl capsules.