Editor’s Note: Related Tickers: Safeway Inc. (NYSE:SWY), Exide Technologies (NASDAQ:XIDE), CRA International, Inc. (NASDAQ:CRAI), Whiting USA Trust (NYSE:WHX), Maxcom Telecomunic S.A.B. de C.V. (ADR) (NYSE:MXT)
Safeway first-quarter sales fall short, stock plummets (San Jose Mercury News)
Safeway Inc. (NYSE:SWY)’s revenues missed Wall Street expectations for the first quarter of the year, sending stocks plunging Thursday morning. The company announced sales of less than $10 billion for the first three months of 2013, which was below analyst projections of $10.14 billion and a slight dip from a year ago. News of the weaker sales sent stocks down more than 15 percent in the first hour of trading Thursday.
Safeway Inc. (NYSE:SWY) profits rose from last year, aided by tax benefits, and the company earned $118.9 million, or 49 cents per share. Excluding tax benefits, per-share earnings were 35 cents, up from $73 million, or 27 cents per share, a year ago. Analysts had predicted 36 cents per share for the first quarter.
The California Department of Toxic Substances Control has shut down a battery recycling plant in Vernon whose own investigation revealed that it’s contaminating the soil around it. Exide Technologies (NASDAQ:XIDE) recycles 22 million car batteries a year at its Vernon plant. The DTSC said Wednesday that it has suspended Exide’s operating permit. Last month, regional air regulators said arsenic in Exide’s emissions has raised cancer risks for people in nearby Maywood, Huntington Park and Boyle Heights. DTSC Director Debbie Raphael says video provided by Exide Technologies (NASDAQ:XIDE) shows that its wastewater pipes are leaking metals and other toxic substances into the ground.
CRA International, Inc. (CRAI) Announces First-Quarter 2013 Financial Results (Business Wire)
CRA International, Inc. (NASDAQ:CRAI), a worldwide leader in providing management, economic and financial consulting services, today announced financial results for the fiscal first quarter ended March 30, 2013. Revenue for the first quarter of fiscal 2013 was $63.1 million, compared with $69.1 million for the fiscal first quarter ended March 31, 2012. Non-GAAP revenue for the first quarter of fiscal 2013 was $62.0 million, compared with $68.0 million for the first quarter of fiscal 2012. Net income for the first quarter of fiscal 2013 was $3.0 million, or $0.29 per diluted share. This compares with net income for the first quarter of fiscal 2012 of $0.5 million, or $0.05 per diluted share.
Maxcom Considers Bankruptcy After Takeover Deal Collapse (Bloomberg)
Maxcom Telecomunic S.A.B. de C.V. (ADR) (NYSE:MXT) said it’s considering operational and financial alternatives, including a Chapter 11 bankruptcy filing, after a takeover deal with Ventura Capital Privado SA collapsed. The Mexican phone company said in a statement today that only 61.93% of old notes were tendered in a bond exchange, not enough to complete a swap, which was a requirement for an equity offer from Ventura Capital. “In light of this outcome, Maxcom is considering…
