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Major Movers on April 4; GBX, ZNGA, BBY, FMS, CPWR

Shares of Greenbrier Companies Inc. (NYSE: GBX) slumped on Thursday after the rail road freight car equipment maker reported that fiscal second quarter profit plunged by 22 percent due to a 27% fall in deliveries. The Company reported a profit of $13.8 million or 45 cents a share compared to net income of $17.7 million or 57 cents a share, in the same quarter of last year. Revenue for the quarter contracted to $432.2 million from $458.2 million.

Shares of Zynga Inc. (NASDAQ: ZNGA) plunged after analysts at Jefferies Equity Research reiterated rating on the stock even as online gaming company is set to launch real-money versions of online poker and casino games in Britain very soon. The analysts believe that that financial implications from the two new online gambling games will not be very significant, adding that they will keep close eye on usage trends and its monetization. The analysts also said these new games are “immaterial driver” for the top line since it will be only playable on company’s website. The equity research firm maintains a “hold rating on the stock and has a price target of $3 a share.

Shares of Best Buy Co. Inc. (NYSE: BBY) rallied after U.S.’s third largest electronic goods retail chain confirmed to CNBC that it will be offering a 30% discount on iPad 3 and opening Samsung stores within its retail stores.

Shares of Fresenius Medical Care AG & Co. (ADR) (NYSE:FMS) skyrocketed after the Germany based dialysis company announced euro 385 million worth ($494 million) shares repurchase program. The Company said that it will repurchase shares from the open market in the course of next six months, using existing credit lines and cash in hand. The Company has also asked for their approval on one-to-one conversion of all preference shares to common shares. Currently, total outstanding preference shares accounts for 1.3% of the total share capital.

A European financial institution holding approximately 77% of all outstanding preference shares will pay a conversion premium of EUR27 million to Fresenius Medical but all other conversions will be free.

Shares of Compuware Corporation (NASDAQ: CPWR) fell on Thursday after the company, late last evening said that it is downwardly revising its earnings and revenue guidance as revenue from licensing is expected to drop sharply. Addressing analysts at a conference call on Wednesday, Company’s CEO, Bob Paul said that revenue from license fees will come  between $46 million to $48 million compared to $67.9 million, in the same quarter of last fiscal. The Company expects earnings of 5 to 6 cents on revenue range of $237 million to $241 million in the fiscal fourth quarter while analysts polled by FactSet Research were expecting earnings of 17 cents a share on revenue of $272.8 million.

For the fiscal full year, Compuware anticipates earnings to come in the range of 26 cents to 28 cents a share, on revenue of $942 million to $946 million.  Analysts’ consensus forecast was for earnings of 43 cents a share on revenue of $977.4 million.


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