Services Sector

Arrium’s share price was pushed up by 17% on the day of their earnigns results though many analysts do not share the market’s enthusiasm. Adjusted profit increased from AUD 143 million to AUD 168 million but quality remains poor. Profit was boosted by an interest rate on sizable, mainly U.S dollar denominated debt, of less…

Maxim Integrated announced this week that it will acquire Volterra Semiconductor for $23 per share or $605 million in total (or $450 million after excluding Volterra’s cash on hand). Analyst’s initial take is that the deal will be made at a reasonable, but not especially cheap, valuation, but it does allow Maxim to expand into…

On Wednesday afternoon, MarkWest Energy announced second-quarter results that were lower than last year, though roughly in line with expectations. Contending with meager gas and NGL prices, net income was cut by more than half to $84 million from $187 million last year, and though processing volumes actually increased dramatically by 53% over last year,…

Atmos Energy reported solid third-quarter earnings per share from continued operations of $0.42, compared with $0.32 in the year-ago quarter. Management reaffirmed its fiscal 2013 EPS forecast range of $2.45-$2.55 per share. The company will pay a $1.40 per share dividend in fiscal 2013, a 1.4% increase from 2012. Natural gas distribution gross profit rose…

U.K.-based fund manager Henderson Group reported an impressive underlying profit before tax of GBP 101 million for first-half 2013, up 22% on first half 2012 and in line with our expectations and guidance. Diluted earnings per share of 8 pence per share increased 14% on 7 pence in first-half 2012. Assets under management increased 3.5%…