Major Movers on June 18; FDS, GNMK, KFY, JW.A, SNE

Shares of FactSet Research Systems Inc. (NYSE:FDS) fell about 2% by afternoon trade. Although FactSet posted fiscal third quarter earnings which matched street’s estimate, revenue fell short of expectation. In addition, the Company said it envisage a tough market condition. Factset sells services to clients that use its merger acquisition and stock research. In the fiscal third quarter, FactSet’s net income rose 11%. Its outlook for the current period was in line with expectations. For the fiscal third quarter ended May 31, FactSet posted a net income of $53.4 million or $1.20 a share compared to a profit of $48 million or $1.05 a share, in the same period of last year. Stripping out onetime items, adjusted earnings stood at $1.15 a share. Revenue climbed 6% to $214.6 million from $202.3 million. Analysts’ consensus estimate was for earnings of $1.15 a share on revenue of $215 million. The Company’s guidance for the current quarter was in-line with estimate. GenMark Diagnostics Inc. (NASDAQ: GNMK) tumbled about 11% by afternoon trade. The molecular diagnostics company late last evening downwardly revised its full-year revenue outlook. For the full-year fiscal ending December, GenMark now expects revenue of about $30 million down from its earlier projection of $35 million. Analysts polled by Thomson Reuters had most recent consensus estimate for $35.11 million. Shares of Korn/Ferry International (NYSE: KFY) fell about 2.20%. The executive search firm’s fiscal fourth quarter income was weighed down by higher expenses, offsetting strong growth in revenue, aided mainly by recent acquisitions. For the fiscal fourth quarter ended April 30, the Company reported adjusted earnings of 32 cents up from 28 cents in the year-earlier quarter. Revenue climbed 15% to $238.6 million. Revenue from fee soared 15% to 227.9 million; nevertheless, excluding proceeds from its recent acquisitions of Global Novations and PDI Ninth House, revenue fee edged up mere 1%. In March, Korn/Ferry provided earnings guidance of 28 to 34 cents a share on revenue of $210 million to $230 million. Operating margin shrank to 6.8% from 7.8%, in the same quarter of last year. Shares of John Wiley & Sons (NYSE: JW.A) fell sharply on Tuesday after the Company announced fiscal fourth results. Net income plunged 84% in the fourth quarter as high impairment and restructuring charges put a dent on the bottom line even as the Company continues its cost control efforts. For the new fiscal year, the Company is now expecting low single digit percentage growth in revenue. Non-GAAP earnings are expected to be in the range of $2.85 to $2.95 a share. Analysts’ consensus estimate was for earnings off $3.22 a share on revenue growth of 2%. The Company said that it expects to book additional charges in the fiscal 2014 as it looks to implement its restructuring plans in phased manner. Shares of Sony Corporation (ADR) (NYSE: SNE) climbed about 3.30% by afternoon trade. Third Point, a U.S. hedge fund said that it raised its stake in the Company to 70 million shares. Third Point’s CEO Daniel Loeb also requested the Japanese electronics giant to spin-off its entertainment division.