News Summary (HELE, SHAW, SMSC, CNXT)

Shares of Helen of Troy Ltd

gained about 2.1% after the company reported 9.4% y/y rise in its fiscal Q3 net profit. The company's earnings came in at $0.86 per share. HELE's sales increased 8.2% y/y to $205 million. However, analysts were expecting earnings of $0.75 per share on sales of $208.8 million. Shares of Shaw Group Inc.

gained about 3.4% after the company reported that its board of directors have approved the repurchase of up to $500 million of the company's common stock. Shaw reported that it will fund the buyback program out of its available cash and short term investments. Shares of Standard Microsystems Corp

dropped about 5.4% after the company announced its plans to buy Conexant Systems Inc

for around $284 million including debt. SMSC also reported upbeat Q3 earnings, but issued weaker-than-expected Q4 projections. The company projected its Q4 earnings of $0.20 to $0.24 per share, excluding items, on revenue of $96-$99 million. However, analysts expected earnings of $0.32 per share, excluding items, on revenue of $99.1 million. CNXT shares surged about 15% following the news. Read more