Mid Day Movers: SNDK, GENE, IR, ATHM

Technology Stocks News 2

Ingersoll-Rand Plc (NYSE:IR) is up 2.3% to $60.75 per share in Monday mid-day trading following a positive mention in this weekend’s Barrons. The article identifies companies with 1-2% dividend payouts that could double over the next five years, including IR, a diversified industrial company that could benefit from a housing recovery. Also mentioned in this article as candidates well positioned for potential dividend increases: AIG, +1.1%, HAL, +2.8%, DFS, +1.4%, and CVS, +1.1%. Ingersoll-Rand is up 48% over the past 12 months and trades near the upper end of a 52-week price range of $40.65 – 63.42 per share.

Genetic Technologies (NASDAQ:GENE) said on Monday that Alison Mew will resume her post as chief executive officer from April 1. Acting CEO Tom Howitt will relinquish the role on March 28. Howitt has also tendered his resignation as chief financial officer and company secretary and will leave Genetic the same date. Current financial controller, Bronwyn Christie, will be appointed as acting chief financial officer until a replacement for Howitt is found, the company said. Christie will be appointed as company secretary.

Sandisk (NASDAQ:SNDK) moved higher Monday following a weekend report in Barron’s that said the tech firm’s shares have room to run on top of a 65% advance last year. Barron’s said Sandisk, a maker of flash storage cards, has increased cost-cutting to offset softer flash prices. SNDK shares are trading at a discount to historical P/E levels as expectations remain fairly low, according to Barron’s. In late morning trade, SNDK was up 1.7% to $76.05.

Automobile website Autohome Inc. (NYSE:ATHM) reached its highest levels since its December IPO Monday after the company reported better-than-expected results for Q4, and issued revenue guidance for Q1 above Street estimates. Shares are up 4.2% at $36.84 in late-morning trading, and reached $40.68 earlier, more than double its IPO price of $17. The Chinese provider of professionally produced content, user generated content, automobile library and automobile listing information said that Q4 2013 net income increased 183.2% year over year to $20.3 million, or $0.20 per share. Net revenues were up 74.1% from last year to $63.8 million.

The analyst consensus on Capital IQ was earnings of $0.17 on revenue of $59.6 million. For Q1 2014, the company expects revenues of $52.5 million to $54.8 million. The Street view is for revenues of $52.10 million.

 

 

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