Shares of Nabors Industries Ltd. (NYSE: NBR) plunged about 5.50% by afternoon trade.Late on Tuesday, the drilling contractor said that fiscal second quarter operating earnings will miss analysts’ expectation, citing weak performance in its rig, completion and production services businesses.
While lower sales and drop in rental activities impacted Nabors’ rig business, bad weather and intensifying competition put pressure on its completion and production services business. The Company now anticipates operating earnings of $88 million to $91 million. Analysts polled by FactSet had forecasted earnings of $111.8 million. Nabors Industries is slated to announce fiscal second results on July 23. Meanwhile, analysts at Jefferies Group reaffirmed “hold” rating on the stock on Tuesday and raised the price target to $15.00 from $14.00.
Shares of Pharmacyclics Inc. (NASDAQ:PCYC) climbed about 11% by afternoon trade. The Company announced on Wednesday that it has submitted a new drug application to the Food and Drug Administration to examine its oral Bruton’s tyrosine kinase inhibitor, ibrutinib—a treatment for mantle cell lymphoma and chronic lymphocytic leukemia/small lymphocytic lymphoma.
Shares of Nu Skin Enterprises Inc. (NYSE: NUS) rallied about 14% by afternoon trade. The skin care products maker, late last evening lifted its earnings guidance for the fiscal second quarter and full-fiscal year. The Company said that sales trends in North Asia, China and Americas were positive. The Company now anticipates earnings of $1.20 a share on revenue of about $680 million up from its earlier projections of 91 to 95 cents a share on revenue of $570 million to $580 million. For the full-fiscal year, Nu Skin expects earnings to be in the range of $4.85 to $5 a share on revenue of $2.83 billion to $2.86 billion. For the second quarter, analysts’ consensus estimate is for earnings of 96 cents a share on revenue of $578.9 million while for full-year it is $4.89 and $2.77 billion, respectively.
Shares of Helen of Troy (NASDAQ: HELE) Limited edged up about 1.50% by afternoon trade on Wednesday. The Consumer products company on Tuesday announced better-than-expected fiscal first quarter results. Profit fell slightly as gross margin narrowed while it also took some asset impairment charges. For the recently concluded quarter, Helen of Troy posted a profit of $14.4 million or 45 cents a share compared to net income of $23.5 million or 74 cents a share. The Company took a non-cash charge of $12.05 million related to impairments of some trademarks from personal care segment. Excluding onetime items, earnings stood at $26.4 million or 82 cents a share. Revenue increased 1.4% to $304.5 million from $300.2 million, in the year earlier quarter. Analysts’ consensus estimate was for earnings of 71 cents a share on revenue of $301.50 million, according to a data compiled by Thomson Reuters.
Shares of Family Dollar Stores Inc. (NYSE: FDO) jumped about 6.25% by afternoon trade. The discount retailer handed better-than-expected fiscal third quarter earnings while revenue also matched analysts’ expectation. The Company’s earnings guidance for the full-year fiscal was also in-line with Wall Street’s expectation.
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