On Monday, in the course of current trade, Shares of Mead Johnson Nutrition CO (NYSE:MJN), dropped -0.23%, and is now trading at $87.59.
Mead Johnson Nutrition Company, declared that it is revising full-year 2015 financial guidance based on preliminary second quarter sales results. Results are preliminary at this time as the Company has not yet accomplished its quarter close processes. Final Q2 results will be declared on July 23, 2015.
- Preliminary second quarter constant dollar sales(1) were 3% below the preceding year quarter. Counting the impact of foreign currency, preliminary stated sales were 7% below the preceding year quarter.
- Strong sales of the recently launched imported products to China were insufficient to fully offset declines in the China based manufactured products. Hong Kong cross-border sales stabilized, but were below preceding year levels.
- Preliminary year-to-date sales were in-line with the preceding year on a constant-dollar basis and 4% lower on a stated basis.
- Slowing emerging market growth and dairy costs approaching five-year lows drove competitive promotional price discounting across several MJN markets in Latin America and Asia, most notably in China.
- Preliminary non-GAAP and GAAP EPS for the second quarter of 2015 are predictable to be $0.76 and $0.80, respectively, influenced by the sales decline and raised Advertising & Promotion expenditure.
- Annual sales growth is predictable to be in the range of 0% to 2% on a constant-dollar basis, formerly estimated at 7%. Counting the estimated impact of foreign exchange, stated sales are predictable to be 2% to 4% below the preceding year, formerly estimated to be 2% above the preceding year.
- Full-year non-GAAP EPS is predictable to be in the range of $3.63 to $3.78, formerly estimated at $3.90 to $4.00. Specified Items are presently predictable to be $0.07 per share, not taking into account any future mark-to-market pension adjustment. As a result, full-year GAAP EPS guidance is predictable to be in the range of $3.56 to $3.71, formerly estimated at $3.79 to $3.89.
Mead Johnson Nutrition Company manufactures, distributes, and sells infant formulas, children’s nutrition, and other nutritional products. It offers routine infant formula products as a breast milk substitute for healthy infants for the use as the infant’s source of nutrition, in addition to a supplement to breastfeeding under the Enfamil Premium, Enfapro Premium, Enfamil A+, and Enfalac A+ names; and solutions products to address common feeding tolerance problems, counting spit-up, fussiness, gas, and lactose intolerance under the Enfamil Gentlease and Enfamil A.R names.
During an Afternoon trade, Shares of GameStop Corp. (NYSE:GME), dipped -0.21%, and is now trading at $46.55.
GameStop Corp., declared the successful completion of its acquisition of Geeknet through a tender offer to purchase all outstanding shares of Geeknet, Inc. (formerly NASDAQ: GKNT) for $20.00 per share in cash, without interest thereon and less any applicable withholding taxes (the “Offer Price”). Following the completion of the Offer to purchase all outstanding shares of Geeknet for the Offer Price, GameStop attained all remaining Geeknet shares through a merger without a vote or meeting of Geeknet’s stockholders following Section 251(h) of the General Corporation Law of the State of Delaware.
Paul Raines, chief executive officer of GameStop, stated, “This acquisition is another example of our on-going efforts to leverage our core competencies to diversify and expand into new and growing categories. The collectibles category is a rapidly growing segment and Geeknet provides us with a strong consumer brand, product development expertise and meaningful vendor partnerships, all of which position us to become the market leader. We welcome the Geeknet team and their ThinkGeek brand into the GameStop family of brands.”
GameStop Corp. operates as a multichannel video game retailer. It sells new and pre-owned video game hardware; physical and digital video game software; pre-owned and value video game products; video game accessories, such as controllers, gaming headsets, memory cards, and other add-ons for use with video game hardware and software; and digital products, counting downloadable content, network points cards, prepaid digital and online timecards, and digitally downloadable software.
Shares of Cabot Oil & Gas Corporation (NYSE:COG), during its Monday’s current trading session fell -0.65%, and is now trading at $28.82.
Cabot Oil & Gas Corporation, will host its second quarter 2015 earnings conference call on Friday, July 24, 2015 at 9:30 a.m. Eastern Time. The Company plans to issue its financial and operating results preceding to the market opening on the same day.
Cabot Oil & Gas Corporation (COG) will host its second quarter 2015 earnings conference call on Friday, July 24, 2015 at 9:30 a.m. Eastern Time. The Company plans to issue its financial and operating results preceding to the market opening on the same day.
Finally, Radian Group Inc (NYSE:RDN), gained 0.05% Monday.
Radian Group, declared that it will hold a conference call on Wednesday, July 22, 2015, at 10:00 a.m. Eastern time to talk about the company’s second quarter 2015 financial results, which will be declared preceding to the market open on the same day.
Radian Group Inc., through its auxiliaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance, and Mortgage and Real Estate Services (MRES).
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