MARKET CURRENTS
real-time news and commentary for investors
MARKET CURRENTS
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Today - Tuesday, May 22, 2012
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10:48 AM Nordson (NDSN) +9.4% after its guidance yesterday offsets an FQ2 miss. Net profit -20% to $52.1M as lighter organic volume and higher expenses weakened margins. Nordson also announced the $200M buy of extrusion-dies producer EDI. In FQ3, Nordson expects EPS of $0.96-$1.04 vs. forecasts of $0.86 and revenue of $337M-$$349M vs. $326M. Comment!
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7:50 AM Medtronic on (MDT) FQ4: Net profit rises to $991M from $776M, benefiting from growth across MDT's businesses and geographies - particularly in emerging markets - and strong product launches. Guidance: FY 2013 revenue growth 2%-4%, EPS of $3.62 to $3.70 vs. consensus of $3.66. Shares +2.65%. Comment!
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7:45 AM More on Best Buy's (BBY) Q1: Comparable-store sales down 5.3%, led lower by 10.5% fall in international sales. Domestic segment online revenue growth +20% Y/Y. Domestic segment mobile phones growth +13% Y/Y. Revenue per square foot flat compared to last year. Maintain FY13 EPS guidance of $3.50-$3.80. Shares +4.6% premarket. (PR) Comment!
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6:45 AM More on Williams-Sonoma's (WSM) Q1: Brand revenue gain of 5.4% led by West Elm brand and Pottery Barn, offsetting declines at PBteen, Williams-Sonoma, and Pottery Barn Kids. Operating margin falls to 6.0% from 6.7% last year. Sees FY12 EPS of $2.42-$2.49, up from prior guidance of $2.37-$2.47. Expects FY12 revenue of $3.95B-$4.02B, just above the prior estimate of $3.93B-$4.02B. (PR) Comment!
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Monday, May 21, 2012
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