Corning, Codexis, Motorola Solutions, Rockwell, Timken Attact High Trading Interest Wednesday
Corning Incorporated (NYSE:GLW): Expects to have ample financial flexibility for share repurchases, M&A, or to increase the dividend. Says the global oversupply of poly combined with the decline in subsidies for two of the world’s biggest markets for poly — Germany and Italy — continue to impact poly pricing and solar demand. Does not expect pricing to improve until supply demand levels return to balance and the current over capacity situation subsides. Shares of Corning Incorporated are trading 5.73% higher today.
Codexis, Inc. (NASDAQ:CDXS): Codexis announced that the FDA has approved a new process co- developed by Codexis for the manufacture of sitagliptin, the active pharmaceutical ingredient in Merck’s Januvia. Shares of Codexis, Inc. are trading 10.11% higher today.
Motorola Solutions Inc (NYSE:MSI): Motorola Solutions reports Q1 adjusted EPS 59c, consensus 54c Reports Q1 revenue $1.96B versus consensus $1.93B. Shares of Motorola Solutions Inc are trading 5.03% higher today.
Rockwell Automation (NYSE:ROK): Net income for the industrial automotive-robotics rose to $167.8 million ($1.16 per share) vs. $166.4 million ($1.14 per share) in the same quarter a year earlier. This marks a rise of 0.8% from the year-earlier quarter. Revenue rose 6.6% to $1.56 billion from the year-earlier quarter. Shares of Rockwell Automation are trading 2.11% lower today.
The Timken Company (NYSE:TKR): Timken now expects FY12 sales growth of 7%-10% , with the following: Mobile Industries sales expected to be flat to up 5% for the year, reflecting improved off-highway and rail demand and the impact of acquisitions, offset by reduced light-vehicle business; Process Industries sales up 10%-15%, projecting increased global industrial distribution demand, new product sales and the full-year impact of acquisitions; Aerospace and Defense sales up 10%-15%, driven by increased demand across most end markets, led by the defense and civil aerospace sectors; and Steel sales up 5%-10% percent, driven by demand in the energy markets as well as pricing. Shares of The Timken Company are trading 5.77% higher today.
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