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Major Movers on April 16; GWW, SRPT, PDCE, NTGR, KO

Shares of W.W. Grainger Inc. (NYSE:GWW) rallied after the  distributor of maintenance, repair and operating supplies reported better-than-expected fiscal first quarter results and raised its guidance on 2013 results.

For the quarter, the Lake Forest, Illinois-based Company reported earnings of $2.94 compared to $2.57 in the year earlier quarter. Analysts’ consensus estimate was for earnings of $2.74 a share. The Company now anticipates sales-growth of between 5% and 9% and earnings in the range of $11.30 to $12.00 a share. In its earlier guidance, W.W. Grainger was expecting sales-growth of 3 to 9% and earnings of $10.85 to $12.00 a share. Analysts’ consensus estimate was for earnings of $11.75 a share on revenue of $9.61 billion.

Shares of Sarepta Therapeutics Inc. (NASDAQ: SRPT) slumped.  The biopharmaceutical company on Monday provided an update of its discussions with the U.S. Food and Drug Administration (FDA), concerning a possible application for a speedy approval of eteplirsen, a treatment of Duchenne muscular dystrophy (DMD).

The Company said that the FDA has asked to provide more information from the existing eteplirsen dataset to inform a decision on the acceptability of this dataset for a New Drug Application (NDA), according to the Wall Street Journal.

Shares of PDC Energy Inc. (NASDAQ: PDCE) jumped after analysts at equity research firm, Canaccord Genuity raised their price target on the stock to $49 from $47.

The upgrade comes just after analysts at Topeka Capital Markets initiated the coverage on the stock on April 10 with a price target of $50 and set a “hold” rating. On April 5, analysts at SunTrust boosted their rating on the stock to “buy” from “neutral” and set a price target of $56. While six analysts have kept “hold” rating on the stock, eight have “buy” rating. On average, the stock has a “buy” rating with a average price target of $55.68

Shares of NetGear Inc. (NASDAQ: NTGR) were hammered  after the San Jose CA based Company said on Monday that it expects earnings in the fiscal first quarter to miss analysts’ estimate due to lower-than-expected shipments of its new ReadyNas line.

The networking, storage and security solution provider said that revenue is likely to come at the lower end of its initial guidance. For the fiscal first quarter, NetGear expects adjusted earnings of 45 cents a share to 50 cents a share. Analysts polled by Thomson Reuters were expecting earnings of 59 cents a share. For the fiscal first quarter, the Company expects revenue to come in the range of $290 million from $295 million down from original forecast of $290 million to $305 million.

Shares of the Coca Cola Company (NYSE: KO) climbed after the world’s largest beverage maker handed better-than-expected earnings. Although revenue declined from the year-earlier quarter, it still edged past analysts’ consensus estimate. The Atlanta based Company said that total case-volume rose 4%, driven by 15% jump in Eurasia and Africa. Non-GAAP earnings stood at 46 cents a share on revenue of $11.04 billion. Analysts polled by Thomson Reuters were expecting earnings of 45 cents a share on revenue of $10.94 billion.

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