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  • Earnings recap for the week of 6/27

    Below we highlight several companies that had notable moves higher following quarterly results during the past week (6/27).

    For profit education bellwether Apollo (NASDAQ:APOL) reported its third quarter financial results beating analyst estimates on both the top and bottom lines, and issuing in-line revenue guidance for FY11 & FY12. Shares closed up more than 6% following the better than expected results. The company noted that for the quarter, University of Phoenix Degreed Enrollment decreased 16.4% to 398,400 compared with the prior year third quarter, primarily due to decreases in New Degreed Enrollment in recent quarters, including a 40.5% decrease in New Degreed Enrollment in the third quarter of fiscal 2011 compared with the prior year period.

    After the close on Monday (5/27) shares of Nike (NYSE:NKE) traded more than 4% higher following better than expected quarterly results. The company noted that as of the end of the quarter, futures orders for Nike Brand athletic footwear and apparel scheduled for delivery from June through November 2011, totaled $10.3 bln, 15% higher than orders reported for the same period last year. Geographically, the company noted that Emerging Markets were seeing the largest growth in future orders coming in at +25%, with its China market coming in at a close second at +24%. Interestingly, the company's more mature North American market saw the third largest increase in reported future orders of +14%. The company held its investor day on Tuesday (5/28) of this past week, where it  raised its FY15 revenue target to a new range of $28-30 bln, up from its previous target of $27 bln announced in May 2010.

    Monsanto (NYSE:MON) also reported quarterly results which came in better than analysts had predicted. The company raised its full-year as-reported and ongoing EPS guidance and free cash flow guidance. The company also announced the staff of the Securities and Exchange Commission is conducting an investigation regarding Monsanto's customer incentive programs relating to its glyphosate products in fiscal years 2009 and 2010, and Monsanto has received a subpoena for documents in connection therewith. Shares of MON closed more than 5% higher following the better than expected results and raised guidance

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
    Tags: APOL, NKE, MON
    Jul 02 9:56 PM | Link | Comment!
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