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Big Movers: Martha Stewart Living Omnimedia, Inc. (NYSE:MSO), Honda Motor Co Ltd (ADR) (NYSE:HMC), Synalloy Corporation (NASDAQ:SYNL)

Big Movers: Martha Stewart Living Omnimedia, Inc. (NYSE:MSO), Honda Motor Co Ltd (ADR) (NYSE:HMC), Synalloy Corporation (NASDAQ:SYNL)
Written by
Joel Najarian
Published on
October 28, 2014
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Martha Stewart Living Omnimedia, Inc. (NYSE:MSO) posted Q3 earnings that came in just ahead of forecasts, but revenue fell short due to lower print and merchandising sales. The basic and diluted net loss per share was $0.19 for the third quarter compared to $0.06 for the third quarter of 2013. Excluding an impairment charge in Q3, the net loss per share was $0.06. That's a penny better than the net loss of $0.07 analysts had been expecting.Revenues totaled $29.8 million in the third quarter of 2014 compared to $33.8 million in the third quarter of 2013 due to lower print and merchandising revenue partially offset by higher digital advertising revenue. Analysts had been expecting $33.6 million. Martha Stewart Living Omnimedia, Inc. (NYSE:MSO) CEO Dan Dienst said Q3 is traditionally the weakest for the lifestyle company and the results don't yet reflect the impact of a recent 10-year accord signed with Meredith Corp (MDP), which will lead the sales, advertising sales circulation and non-editorial functions of the group. The shares closed at $4.06 on Monday with a 52-week range of $2.35 - $5.50.Honda Motor Co Ltd (ADR) (NYSE:HMC), the Japanese carmaker reported mixed Q2 financial results ended September 30, with earnings missing the Street view and revenues slightly above the consensus of analysts polled by Capital IQ. Q2 net income attributable to the company rose 17.9% to JPY 141.8 billion ($1.3 billion) from a year ago. Basic net income per share rose to JPY78.73 ($0.72) from JPY66.79, missing the consensus of JPY82.55 per share.Q2 revenue increased 4.3% year-on-year to JPY3.01 billion ($27.5 billion), edging above the Street forecast of JPY 3.06 billion. For the fiscal year ending March 31, 2015, Honda Motor Co Ltd (ADR) (NYSE:HMC) said it expects revenues of 12.75 trillion yen, up 7.7% year-on-year yet below a previous forecast of 12.80 trillion yen and net profit of 565 billion yen, down 1.6% year-on-year and 5.8% less than forecast in July. HMC ADRs are moving closer to the low end of the 52-week range of $30.43 - $42.96.Synalloy Corporation (NASDAQ:SYNL), a metals and specialty chemicals company, posted Q3 revenue that missed forecasts. Adjusted net income for the third quarter of 2014 was $2,469,000, or $0.28 per share, up 81% from $0.21 per share a year ago. Net earnings from continuing operations more than doubled to $3.17 million, or $0.36 per share. The Street view was $0.32 per share, but it's unclear which number is comparable. Net sales from continuing operations fell 2% to $48.45 million, short of estimates for $52.56 million.The company said it will continue to reduce and monitor the cost structure in all of its business units, improve the product mix at both the pipe and storage tank facilities, and continue to penetrate new markets in the Specialty Chemicals Segment. It said all remaining business units have reported results in excess of their targets thus far in 2014 and it's well positioned to make accretive acquisitions. Synalloy Corporation (NASDAQ:SYNL) shares are trading with a 52-week range of $13.15 - $18.78.

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