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Juniper Networks, Inc. (NYSE:JNPR) is reported to have hired JP Morgan (NYSE:JPM) to manage bids from possible buyers, Network World reports, citing Benzinga.com. Unnamed sources claim that Juniper received an offer in the “high $20s per share,” and EMC (NYSE:EMC) has been named as a possible suitor.
USG Corp. (NYSE:USG) reports that its Q3 revenue reached $828.0 million, consensus $867.25 million.
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Select Comfort Corporation (NASDAQ:SCSS) retreats after it reports stronger Q3 results than expected and raised its full-year earnings per share guidance. According to the company, it believes that its sales will rise at least 20 percent during Q4. The company also claimed that it would accelerate investments in Q4. Select Comfort is accelerating its investments as an attempt to build brand awareness and advance product innovation, according to CEO Shelly Ibach. In a note to investors earlier this morning, Piper Jaffray analyst Peter Keith sated that weakness regarding the company’s stock after the results is due to its decision to accelerate its investments along with confusion regarding Q4 sales guidance and the amount of mattresses it sold. Keith believes that these concerns are “near-term noise,” and he keeps an Overweight rating and a $36 price target on the stock. In early trading, Select Comfort fell $2.39, or 7.32 percent, to $30.24, as mattress maker Tempur-Pedic (NYSE:TPX) fell 2.70 percent to $32.40.
Morgan Stanley (NYSE:MS): James P. Gorman, Chairman and CEO, stated, “Our third quarter results show a balanced, strategically focused franchise that has attained stronger revenues and executed on key goals. The rebound in Fixed Income & Commodities sales and trading indicates that clients have re-engaged after the uncertainty of the rating review in the previous quarter. We are beginning to unlock the full potential of the Global Wealth Management franchise, having increased our ownership of, and agreed on a purchase price for the rest of, Morgan Stanley Wealth Management. I am confident in our potential to enhance profitability and increase value for our shareholders in the quarters ahead.”
Polaris Industries, Inc. (NYSE:PII) has increased its FY12 revenue view to 19 to 20 percent from 2011′s, consensus $3.13 billion.
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