Shares of PSS World Medical Inc. (NASDAQ: PSSI), a national distributor of medical products and supplies, diagnostic equipment, healthcare information technology and pharmaceutical products, are seeing a huge rally in trading today.
At last check, PSSI shares were trading 32.50% higher at $28.62 on above average volume of 24.80 million. The stock hit a 52-week high of $28.66 in early trading today.
PSSI shares are soaring in trading today after the company agreed to be acquired by McKesson Corporation (NYSE: MCK). Under the terms of the agreement, MCK will acquire PSSI for $29 per share in an all cash transaction. John H. Hammergren, Chairman and CEO of McKesson, said that the combination of MCK’s Medical Surgical business and PSS World Medical is an exciting next step in McKesson’s commitment to improve business health and clinical performance across healthcare.
MCK shares have also risen sharply in trading today. The stock hit an intra-day high of $93.68 in early trading today. At last check, the stock was trading 3.58% higher at $92.71 on volume of 208,073.
Shares of Crocs Inc. (NASDAQ: CROX), a designer, manufacturer and distributor of footwear and accessories for men, women and children, are sinking in early trading today. At last check, CROX shares were trading 17.67% lower at $13.33 on above average volume of 2.63 million. The stock fell to a 52-week low of $13.01 in early trading today.
CROX shares are sinking in trading today after the company reported its third-quarter financial results. For the quarter ended September 30, 2012, CROX reported revenue of $295.6 million, representing an increase of 7.5% over the same period in the previous year. The company’s net income for the quarter was $45.1 million, or $0.49 per share, compared to net income of $30.2 million, or $0.33 per share reported for the same period in the previous year.
John McCarvel, President and CEO of Crocs, said that the company’s Americas and Asia performance helped to more than offset weakness in the European market, where challenging macroeconomic conditions and foreign currency exchange rate fluctuations continue to pressure the company’s results.
Shares of 3D Systems Corporation (NYSE: DDD), a holding company that operates through subsidiaries in the U.S., Europe and the Asia-Pacific region, are seeing a huge rally in trading today. At last check, DDD shares were trading 15.26% higher at $41.40 on volume of 1.12 million. The stock hit an intra-day high of $41.74 in early trading today.
DDD shares are soaring in trading today after the company reported its third-quarter financial results. For the third quarter of 2012, DDD reported non-GAAP adjusted earnings of $0.32 per share. The company’s GAAP earnings for the quarter were $0.24 per share.
Revenue for the third quarter rose 57% to $90.5 million. Gross profit for the quarter rose 69%. Gross margin expanded 350 basis points in the third quarter of 2012.
Abe Reichental, President and CEO of 3D Systems, said that DDD is very pleased to report another outstanding quarter driven by doubling printer unit sales. Reichental further said that the company believes that its record revenue and earnings growth, amidst expected seasonal weakness, reflects the potency of its diversified portfolio and business model.
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