Fortinet Rallies After Earnings Beat
Fortinet Inc (NASDAQ:FTNT) reported better-than-expected earnings and sales for its first quarter and the company’s shares are 5.7% higher because of it. For the first three months of the year, Fortinet earned an adjusted $0.12 per share on sales of $284.6 million, beating estimates by $0.03 per share and $11.14 million respectively. Sales rocketed up by 33.7% year-over-year while billings grew by 30% year-over-year. Deferred revenue rose to $837.2 million, up from the fourth quarter’s $791.3 million. Cliff Asness‘ AQR Capital Management was a top shareholder of Fortinet Inc (NASDAQ:FTNT) in our database at the end of December.
Examworks to Sell Itself
Examworks Group, Inc. (NYSE:EXAM) is 5.78% in the green after the company entered into a definitive agreement to be acquired by Leonard Green & Partners, L.P. for $35.05 in cash per share. The transaction is expected to close in the third quarter of this year. ExamWorks’ board of directors has approved the merger agreement and recommends shareholders vote in its favor as well. Examworks also has a 25-business-day period concluding on June 1 to see if it can get a better deal with other companies. Of the 786 active funds that we track, nine of them owned $74.42 million of Examworks Group, Inc. (NYSE:EXAM)’s shares on December 31, which accounted for 6.70% of the float.
Boston Scientific Soars On Good First Quarter Results
Boston Scientific Corporation (NYSE:BSX) shares have soared by 9% after the company earned $0.28 per share on sales of $1.96 billion in the first quarter, beating the consensus estimates by $0.04 per share in earnings and $50 million in revenue. Revenue jumped by 10.7% year-over-year, led by Boston Scientific’s MedSurg division, which saw sales jump by 25.8%. Second quarter guidance was for GAAP EPS of $0.14-to-$0.17, adjusted EPS of $0.25-$0.27, and sales of $1.927 billion-to-$1.980 billion. For the full 2016 year the company is guiding for GAAP EPS of $0.64-to-$0.69 and adjusted EPS of $1.06-to-$1.10, each of which was up slightly from previous guidance. The number of elite funds in our system with holdings in Boston Scientific Corporation (NYSE:BSX) decreased to 33 from 37 during the fourth quarter.