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Why Verint Systems, Energizer, and Titan Machinery Jumped Today


The stock market soared on Thursday, partially recouping its losses after several volatile sessions earlier this week. When the closing bell rang on the final day of the quarter, the Nasdaq Composite and S&P 500 had each climbed roughly 1.5%, and the Dow Jones Industrial Average  wasn't far behind with a 1.1% rise.

But several individual stocks enjoyed even more pronounced gains. Here's why Verint Systems (NASDAQ: VRNT) , Energizer Holdings (NYSE: ENR) , and Titan Machinery (NASDAQ: TITN) outperformed today.

Verint's earnings surprise

Shares of Verint Systems popped 13.9% after the customer engagement and cyber intelligence specialist announced impressive fiscal fourth-quarter results.

Verint's adjusted (non- GAAP ) revenue grew 7.7% to $322.7 million. That translated to adjusted net income of $68.7 million, or $1.05 per share, up from $0.90 per share in the same year-ago period. Analysts were only expecting earnings of $1.00 per share on revenue of $314 million.

Verint CEO Dan Bodner credited the company's strength to sustained "demand for actionable intelligence solutions and the successful execution of our growth strategy."

As such, Verint increased its full-year outlook to call for fiscal 2019 revenue of $1.23 billion (plus or minus 2%), and adjusted earnings of $3.09 per share. Verint's previous outlook -- provided in December -- called for fiscal 2019 revenue of $1.215 billion, and earnings of $3.00 per share.

Stock market charts indicating gains and overlapping a digital global map

Image source: Getty Images.

Energizer's acquisition moves forward

Energizer stock jumped 12.4%  after the battery maker announced the U.S. Federal Trade Commission has allowed the expiration of a mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976 with respect to its planned $2 billion acquisition of Spectrum Brands ' battery and lighting business. Shares of Spectrum -- which owns the Varta and Rayovac brands -- climbed 15.1% today.

"The combination will expand our presence in a number of international markets, broaden our product portfolio and manufacturing capabilities, and increase our ability to bring innovative new products to consumers," added Energizer CEO Alan Hoskins.

The transaction is still subject to regulatory approvals in several jurisdictions outside the United States. But with this significant step now complete, Energizer now expects the deal to close in the second half of 2018.

Titan Machinery's big beat

Shares of Titan Machinery soared 19.3% today after the agricultural and construction equipment dealer announced a strong quarter.

For the fourth quarter of fiscal 2018, revenue grew 6.9% year over year to $339.6 million, as modest declines in parts sales (down 6.6% to $45.5 million) and services (down 5.4% to $26.5 million) were offset by an 11.3% increase in equipment sales to $252.6 million. That translated to an adjusted net loss of $2.1 million, or $0.10 per share, narrowed from a loss of $0.31 per share in last year's fourth quarter. Analysts had predicted a wider adjusted loss of $0.14 per share on revenue of $315 million.

"We were well positioned to capture the anticipated fiscal fourth quarter acceleration in Agriculture sales activity due to better than anticipated crop yields in our footprint, and the resulting improvement in grower sentiment," stated Titan Chairman and CEO David Meyer.

Meyer also noted that, with the help of its restructuring initiatives over the past year, the company has significantly reduced its operating expenses and streamlined its operating structure. As a result, Titan expects improved earnings per share for fiscal 2019 in the range of $0.35 to $0.55, above investors' expectations for earnings of $0.27 per share.

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Steve Symington has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Personal Finance , Stocks
Referenced Symbols: ENR , TITN , VRNT


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