Seagate, Manpower and Whirlpool Among Top Stock Percentage Gainers Feb 1st
Seagate Technology PLC (NASDAQ:STX): Seagate (NASDAQ:STX) reported positive Q2 results last night, beating both EPS and revenue estimates. Q2 EPS came in at $1.32 vs. consensus $1.08, while revenue of $3.2B beat consensus of $3.15B. The company forecast in-line Q3 revenue and noted that it expected to ship at least 60M disk drives next quarter. On its conference call, management said FY12 demand will exceed supply and the low point of industry production likely occured in mid-December. The company expects to continue dividends and share repurchases in 2012. This morning, several firms upgraded their price target on the shares. FBN Securities raised its target to $40 from $25. Needham’s target went to $45 from $35, and RW Baird upped their target to $27 from $20. Due to the positive sentiment and earnings, shares of Seagate have rallied over 23% in late morning action to $26.15, making a fresh 52-week high in the process. The shares closed at $25.53, up $4.39, or 20.77%. They have traded in a 52-week range of $9.05 to $21.23.
Whirlpool Corporation (NYSE:WHR): Appliance maker Whirlpool (NYSE:WHR) reported Q4 EPS of $2.62, compared with analysts’ consensus estimate of $1.96. However, the company’s revenue came in slightly lower than expected. On the other hand, the company provided 2012 adjusted EPS guidance of $6.50-$7.00, versus the consensus estimate of $5.85. The EPS guidance excludes restructuring charges and Brazilian tax credits. Furthermore, the appliance maker said that it expects to generate free cash flow of $100M-$150M in 2012. The company said that strong cash flow from its business would more than offset legal liabilities, and pension contributions of approximately $250M. Whirlpool, which said that its North American business substantially improved, reported that its results were positively impacted by continued improvements in price mix and cost productivity. Conversely, the company noted that its results were hurt by negative economic conditions in Europe. In early trading, Whirlpool jumped $5.58, or 10.27%, to $59.90. The shares closed at $61.64, up $7.32, or 13.48%. They have traded in a 52-week range of $45.22 to $92.00.
ManpowerGroup (NYSE:MAN): Reports Q4 revenue $5.50B vs. consensus $5.54B. Included in the Q4 results is a reorganization charge, primarily related to office consolidations and severance costs, of $20.5M, or $16.3M after tax or 20c per diluted share. Net earnings in the quarter were not significantly impacted by changes in foreign currencies. The shares closed at $45.86, up $5.75, or 14.34%. They have traded in a 52-week range of $31.81 to $69.67.
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