Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Hologic, Inc. > News item |
Midday Commentary: Hologic adds outright after earnings; JDS Uniphase reports disappointing results
By Rebecca Melvin
New York, May 1 - Hologic Inc.'s two convertible bonds gained in outright trade early Thursday as shares of the Bedford, Mass.-based medical diagnostics company added 8% following its fiscal second-quarter earnings, revenue beat estimates and full-year guidance was raised.
Hologic was trading and JDS Uniphase Corp. was in focus after their earnings reports, but the convertibles market was quiet in general, market players said.
Hologic's 2% convertibles due 2042 traded at 105.487, and the 2% convertibles due 2037 added more than 4 points outright to 117, according to Trace data. Meanwhile, Hologic shares were up $1.80, or 8.6%, at $22.78 at 11 a.m. ET.
Hologic reported a net loss, but earnings excluding items were $103.1 million, or 37 cents per share, which was up 10% from the year-earlier period and better than the estimate of 33 cents per share. Revenue grew 2% to $625 million.
Hologic also raised its full-year earnings guidance to a range of $1.37 per share to $1.40 per share, compared to previous guidance of $1.34 to $1.38 per share, and raised revenue guidance to $2.46 billion to $2.49 billion for the year, up from $2.425 billion to $2.475 billion. Its strong report was attributed to revenue gains in key product lines such as 3D mammography and Aptima HPV.
JDS Uniphase was in focus, but its 0.625% convertibles due 2033 weren't seen to have traded as shares of the Milpitas, Calif.-based networking equipment company fell 11% on an earnings miss and forward guidance for the fourth quarter that was below consensus estimates, a New York-based trader said.
Elsewhere, Heartware International Inc. saw its 3.5% convertibles due 2017 trade at 121.55 after the Framingham, Mass.-based medical device company reported earnings that sent its common stock up $9.04, or 10.6%, to $94.00 in the early going.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.