Stocks to Watch: KORS, FDS, JNPR & More
Take a look at some of Tuesday's morning movers:
Michael Kors - The luxury goods maker reported fiscal fourth-quarter profit of 22 cents per share, five cents above estimates. It also issued current quarter guidance above Street consensus.
FactsetResearch Systems - The financial information provider earned $1.15 per share, excluding certain items, 11 cents above estimates, while issuing current quarter guidance above consensus. Factset also surpassed $200 million in quarterly revenue for the first time.
Juniper Networks - The networking equipment maker announced a stock buyback of up to $1 billion. This plan is in addition to a prior $1 billion program, which has $162.2 million in buyback authorization remaining.
Texas Instruments - The chipmaker has narrowed its second-quarter earnings per share outlook to $0.32 to $0.36 from $0.30 to $0.38. Analysts point out that the mid-range of the new forecast remains intact, with demand for its chips steady, despite a shaky global economy.
Agrium - The company says it expects earnings for the second quarter and the year’s first half to be near or at the top of its previous guidance, as it sees strong results across its fertilizer business. The prior second-quarter guidance range had been $4.18 to $4.78 per share, versus analysts’ estimates of $4.57.
Sanofi - Sanofi's Genzyme unit is applying for both U.S. and European approval for its multiple sclerosis treatment Lemtrada. Lemtrada is administered just once per year, versus daily or weekly applications for older MS drugs.
Under Armour - Bank of America/Merrill Lynch has added the athletic apparel maker's stock to its U.S. 1 list, with the firm citing potential upside to the company's 2012 revenue growth guidance of 21 percent to 22 percent.
United Rentals - Morgan Stanley has begun coverage of the equipment rental company's stock with an "overweight" rating.
Seagate Technology - Greenlight Capital's David Einhorn has increased his stake in the hard disk drive maker to 23.1 million shares, or 5.4 percent.
Fusion-io - The computer drive maker has struck a deal to form an OEM relationship with networking equipment giant Cisco Systems. Fusion-io's equipment will be integrated into Cisco's UCS line of servers.
—By CNBC’s Peter Schacknow
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