Orix Corporation (ADR) (NYSE: IX) rallied on Wednesday. The Tokyo based financial services provider and Funabashi Eco Services Corporation announced in February that will merge to form a new entity referred to as Orix Eco Services Corporation. The merge is aimed at creating synergies and improving customer services.
Shares of J.C. Penney Inc. (NYSE: JCP) climbed on Friday amid news reports that beleaguered department chain will forge partnerships with seven leading jewelry designers such as Kenneth J. Lane and Kara Ross, who usually craft high-end jewelry for up-market department stores.
The Company intends to focus on these highly regarded designers, who are expected roll out a new line of jewelry, affordable for JC Penney’s customer base. The Company hopes that this move will allow it create its own niche, which is missing at the moment.
Shares of Whiting Petroleum Corp. (NYSE: WLL-A) slumped, taking hit due to across-the-board plunge in equity markets after unexpectedly disappointing non-farm payrolls data shattered the market sentiment.
Meanwhile the Company announced that it will release its fiscal first quarter results on April 24th, after the closing bell. The Company also said that conference call with investors and analysts will be held on April 25th at 11:00 EST.
In the preceding quarter ended Feb 27, the Company posted earnings of 83 cents a share, edging past Street’s consensus estimate of 74 cents. Revenue during the period stood at $577.10 million against analysts’ forecast of $535.95 million.
F5 Networks Inc. (NASDAQ: FFIV) tumbled about 17% by midday trade after the application delivery networking (ADN) technology services provider. Following the closing bell on Thursday downwardly revised its outlook on earnings and revenue for the fiscal second quarter, citing fragile demand from North American business. For the fiscal second quarter, the Seattle WA based Company is expecting non-adjusted earnings of 79 to 80 cents a share while adjusted earnings is expected at $1.06 to $1.07 a share on revenue of $350.2 million. In its earlier guidance, the Company was anticipating non-adjusted EPS of 93 cents to 96 cents and adjusted earnings of $1.21 to $1.24 a share on revenue range of $370 million to $380 million. The Company is scheduled to release results on April 24th.
Analysts polled by Thomson Reuters are expecting earnings of $1.23 a share on revenue of $375.8 million.
Hanesbrands Inc. (NYSE: HBI) gained on Friday after the apparel maker provided upbeat outlook on the fiscal first quarter earnings, late last evening. Guidance on revenue matched analysts’ estimate.
For the fiscal first quarter, the Company expects earnings to come between 48 cents and 51 cents a share, comfortably above Street’s consensus estimate of 32 cents a share. Revenue in the fiscal first quarter is expected at $975.36 million. For the full-year fiscal, the Winston-Salem, NC, based Company expects earnings to come at $3.25 a share to $3.40 a share, which is in-line with Street’s estimate of $3.36 a share.
Shares of NII Holdings (NASDAQ: NIHD) continued to rally on Friday. According to Bloomberg report which was published on Thursday, the wireless communication services provider will sell its Peruvian business to a Chilean telecom company.