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Major Movers on March 27; LNN, CLF, AOL, FRAN, MFRM, SAI

Shares of Lindsay Corp. (NYSE: LNN) tumbled after the Company warned that orders for its equipments could drop due if prices of crops fall. The Company said that if US harvests turn out to be as strong as anticipated by some commentators then it could have adverse impact on its top line. The company said that until now it benefitted from “positive farmer sentiment” and “historical high farm incomes”

However, the Company’s fiscal second quarter earnings edged past street’s consensus estimate. For the quarter, Lindsay reported earnings of $1.50 a share, up from $1.00 a share, in the same period of last fiscal. Revenue during the period came at $175.50 million, a 32.9% growth from the year earlier quarter. Analysts’ consensus estimate was for earnings of $1.30 a share on revenue of $163.26 million.

Shares of Cliffs Natural Resources Inc. (NYSE: CLF) slumped after analysts at Credit Suisse slashed their price target on iron ore miner’s stock to $10 from $30 , citing that “structural changes taking place in CLF’s key Great Lakes market…will compromise its pricing power and erode the earnings potential of the US iron-ore business”.

Shares of AOL Inc. (NYSE:AOL) rallied after Barclays upgraded its rating on the stock to “overweight” from “equal weight”.

Shares of Francesca’s Holdings Corp. (NASDAQ: FRAN) fell after the boutique chain said some shareholders, including members of the retailer’s management and private-equity firm CCMP Capital, are planning  to offload 7.4 million of its shares.

Shares of Mattress Firm Holding Corp. (NASDAQ: MFRM) rallied. Following the closing bell on Tuesday, the Company reported sharp drop in fiscal fourth quarter profits as recent acquisition weighed on the bottom line; nevertheless, the Company provided optimistic guidance on the current fiscal, citing that addition of new and acquired stores will bolster top line growth.

Stripping out onetime items such as acquisition related and impairment charges, the Company reported adjusted earnings of 30 cents a share. Revenue surged 37% to $258.2 million. However, comparable-store-sales fell 1.6%.  Analysts’ consensus estimate was for earnings of 32 cents a share on revenue of $262.1 million, according to a data compiled by FactSet Research. For the current fiscal year, Mattress Firm expects earnings to be in the range $1.90 to $1.98 a share on revenue of $1.24 billion to $1.25 billion, which was in-line with Street’s estimate.

Shares of SAIC Inc. (NYSE: SAI) climbed. The multi-industry focused engineering solutions provider declared a special dividend of $1 share, late last evening. However, its fiscal fourth-quarter results and its guidance on the current fiscal were mixed.

For the quarter ended January 31, the Company posted a profit of $186 million or 54 cents a share compared to a loss of $161 million or 49 cents a share, in the year earlier quarter. Analysts’ consensus forecast was for earnings of 52 cents a share. Excluding adjustments, revenue and operating income fell during the quarter fell, the Company said.

For the current fiscal, SAIC anticipates earnings to be in the range of $1.16 to $1.33 a share on revenue of $10 billion to $10.7 billion while analysts polled by FactSet Research were expecting earnings of $1.27 a share on revenue of $10.81 billion.


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