Market Overview

Top Trending Tickers On StockTwits For March 19

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Here's a look at the top tickers trending on StockTwits.com.

FedEx: Earnings miss

This morning, FedEx (NYSE: FDX) reported its third quarter results. The company announced an EPS of $1.23, missing the consensus estimate of $1.46. Revenue of $11.3 billion missed the consensus estimate of $11.46 billion. The company claimed that its earnings and revenue miss was due to “Unusually severe winter storms throughout the quarter disrupted operations, decreasing shipping volume and increasing costs, and impacted year-over-year operating income by an estimated $125 million.”

Net income for the quarter rose to $378 million from $361 million in the same quarter last year. Operating margin also rose from a year ago from 5.4 percent to 5.7 percent.

FedEx issued downside guidance and sees its full year 2014 EPS to be $6.55 to $6.80, lower than the consensus estimate of $6.90.

Shares were trading lower by 0.40 percent in the pre-market session.

Horizon Pharma: Reverse merger announced

Horizon Pharma (NASDAQ: HZNP) announced that it has entered into a definite agreement in which the company will acquire Vidara Therapeutics International through a reverse merger for stock and cash which values the deal at around $660 million.

Horizon will exchange 74 percent of its ordinary shares will be exchanged for Horizon Pharma's common shares. Vidara will receive 26 percent of Horizon Pharma shares in addition to $200 million in cash.

According to Horizon's CEO Timothy Walber, a combined entity benefits from a portfolio of four proprietary products in addition to international options to build on its strategy. “We look forward to working with the Vidara team to bring our companies together to accelerate the creation of shareholder value,” Walber said.

Shares of Horizon were surging higher by 22.62 percent in the pre-market session.

General Mills: Earnings miss

This morning, General Mills (NYSE: GIS) reported its third quarter results. The company announced an EPS of $0.62, missing the consensus estimate of $0.64. Revenue of $4.38 billion missed the consensus estimate of $4.43 billion. The company noted that “severe winter weather” hurt sales performance. Retail sales declined two percent as the company faced higher dairy costs and higher marketing and merchandising costs for its yogurt business.

Net income for the quarter rose to $410.6 million from $398.4 million in the same quarter last year.

General Miss issued guidance and see its full year 2014 EPS to be $2.87 to $2.90, in-line with the consensus estimate of $2.88.

Shares were trading lower by 0.71 percent in the pre-market session.

Kandi Technologies: Private placement raise

Kandi Technologies (NASDAQ: KNDI) announced that it has raised $11 million in a private placement with two institution investors for 606,000 shares valued at $18.24 per share. The company also issued 90,900 warrants struck at $22.80 per share which expires in 18 months.

Kandi said that the proceeds will be used for “general working capital purposes” with the completion of the placement scheduled to finalize around March 24.

Shares were trading lower by 3.36 percent in the pre-market session.

Oracle: Yesterday's earnings miss

Last night, Oracle (NYSE: ORCL) reported its fourth quarter results. The company announced an EPS of $0.68, missing the consensus estimate of $0.70. Revenue of $9.3 billion missed the consensus estimate of $9.9 billion. Net income rose to $2.565 billion from $2.504 billion in the same quarter last year.

New software license and cloud subscription revenue rose four percent year over year to $2.4 billion which is favorable compared to last quarter's one percent decline. Sales of hardware products rose eight percent year over year and matched the high end of the company's prior guidance.

Oracle issued guidance and sees its fourth quarter EPS to be $0.92 to $0.99, in line with the consensus estimate of $0.96.

Shares were trading lower by 3.35 percent in the pre-market session.

Posted-In: fedex General Mills Horizon Pharma Kandi Technologies Oracle stocktwits Tomothy WalberNews Best of Benzinga

 

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