Infosys Misses Earnings Targets, Omnicare May Not Pass FTC
Looking past the positive PR spin, investors sent Williams-Sonoma, Inc. (NYSE:WSM) sharply lower on reduced Q4 guidance. While the company’s shares have traded in a 52-week range of $27.90 to $45.48, they closed at $34.32, down $4.76, or 12.18%.
In moves that it says will shave 2.4% off of revenue this year Delhaize Group (NYSE:DEG) will cut 5K jobs and close more stores in the U.S. and Europe. The company, which operates grocery stores expects to take a €120M ($152M) charge in Q4 related to the store closings in the US. Trading in a 52-week range of $54.72 to $88.86, shares closed at $53.72, down $5.88, or 9.87%.
Indian software exporter Infosys Ltd ADR (NASDAQ:INFY) forecasts ~$7.03B in sales for the year period ending March 31. In October it had estimated sales of $7.08B-$$7.2B. With FQ3 earnings of 23.7B rupees ($458M) up 15.4% Y/Y, quarterly profit topped expectations. Trading in a 52-week range of $46.12 to $74.25, shares closed at $51.85, down $5.02, or 8.83%.
Omnicare, Inc.‘s (NYSE:OCR) proposed $716M offer for fellow pharmacy provider PharMerica (NYSE:PMC), is expected to be blocked by the FTC. A decision is expected by the end of next week. According to a source, “The FTC is not offering Omnicare any remedies,” strongly implying that it is not trying to look for ways to OK the transaction. Trading in a 52-week range of $20.36 to $35.8, the shares closed at $32.90, down $2.46, or 6.96%, while PharMerica shares are -11.1%.