Shares of the satellite radio company, Sirius XM Radio Inc. (NASDAQ: SIRI) gained 2.90 by mid-day trade on Tuesday. The Company said that it added 715,000 new subscribers in the fiscal second quarter, raising its total base in excess of 25 million.
Sirius also upwardly revised its full-year subscribers’ growth base estimate. The Company now expects to add 1.5 million net subscribers in this fiscal year, compared to its original guidance for 1.4 million. Sirius, which has consistently posted top line growth in the recent past, said that improved automotive sales helped driving up the subscribers’ growth by 15% in the second quarter.
Commenting over the results, Sirius XM Chief Executive said in a stamen, “The new subscriber additions in the quarter have helped SiriusXM reach an exciting new milestone that reflects the popularity and reach of SiriusXM programming and services.” Earlier in April, the company said that it added net 453,000 subscribers in the first quarter.
Shares of shares of Intuitive Surgical (NASDAQ: ISRG) slumped 16% by mid-day trade. The medical equipment company, late on Monday, provided a very lackluster earnings guidance for the fiscal second quarter. The Company expects revenue of $575 million while analysts’ consensus forecast was for $630 million. The Company is scheduled to report fiscal second quarter results on July 18.
Shares of WD-40 Company (NASDAQ: WDFC) climbed about 5% by mid-day trade. The multipurpose household lubricant manufacturer handed better-than-expected fiscal third quarter results, late last evening. In addition, the Company also lifted its full-year earnings outlook. For the quarter ended May 31, WD-40 posted net income of $10.3 million or 66 cents a share compared to a profit of $9.1 million or 57 cents a share. Revenue rose 7% to $93.1 million from $87 million. Analysts’ consensus forecast was for earnings of 56 cents a share on sales of $89 million. For the full-fiscal year, Wd-40 anticipates earnings of $2.40 to $2.48 a share up from its earlier projection of $2.32 to $2.42 a share. Analysts’ consensus forecast was for $2.39 a share.
Shares of struggling bookseller and Nook maker, Barnes & Noble NYSE: BKS) jumped about 4.80% by mid-day trade. The embattled bookseller announced that Chief Executive Officer, William Lynch has decided to resign from his post. Lynch led the Company for three years. The Company said that search was on for his replacement even as it reviews its overall business strategy.
Shares of Kroger Company (NYSE: KR) and Harris Teeter Supermarkets Inc. (NYSE: HTSI) edged up on Tuesday. Kroger announced that it has agreed to acquire Harris Teeter is deal valued at $2.5 billion or $49.38 per share. The merger would help Kroger to expand its presence in the mid-Atlantic and Southeast regions of the United States. In addition, the merger will bring cost synergies of $40 million to $50 million in nest three to four year, said Kroger Company. Following the completion of the deal, existing senior management Harris Teeter will continue to manage stores -, which will now become Kroger’s subsidiary. This is a financially and strategically compelling transaction and a unique opportunity for our shareholders and associates,” said David B. Dillon, Kroger’s Chairman and CEO in a statement.
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