3 Stocks to Watch on Tuesday: Advanced Energy Industries, Inc. (AEIS), GGP Inc (GGP) and Sanmina Corp (SANM)

Monday was a down day for U.S. equities, with energy stocks suffering the most, posting a 1.8% loss. The S&P 500 Index lost 0.6%, the Dow Jones Industrial Average fell 0.6% and the Nasdaq Composite was 0.8% lower than it was Friday by day’s end.

3 Stocks to Watch on Tuesday: Advanced Energy Industries, Inc. (AEIS), GGP Inc (GGP) and Sanmina Corp (SANM)It was another busy day of earnings to kick off the week, with Advanced Energy Industries, Inc. (NASDAQ:AEIS), GGP Inc (NYSE:GGP) and Sanmina Corp (NASDAQ:SANM) all reporting after the bell.

Here’s what you should know ahead of today’s action:

Advanced Energy (AEIS)

Advanced Energy Industries shares were booming on an earnings report that thrilled investors.

In its fourth quarter, the company — which is responsible for the manufacturing of power and control products used in semiconductors — earned $40.4 million, or $1.06 per diluted share.

In the third quarter, Advanced Energy posted earnings of $29 million, or 73 cents per share. Meanwhile, revenue came in at $135.3 million, topping the year-ago figure of $86.9 million.

Semiconductor and service revenues were strong over the period, which helped bolster earnings despite a weaker industrial application segments to close out the year.

For fiscal 2016, Advanced Energy raked in $483.7 million, marking $68.9 million rise year-over-year. For the year, the company’s profit was $116.9 million, or $2.92 per share, which is 89 cents per share higher than in 2015.

The semiconductor services provider expects to earn between $141 million and $151 million in the first quarter of 2017.

AEIS stock grew enjoyed a 7% surge after hours Monday, and is now up 1.9% in early morning trading.


General Growth Properties revealed its quarterly earnings in the afternoon. The company’s financial results were in line with expectations, with funds from operations clocking in at $412.2 million, or 43 cents per share. Wall Street had anticipated earnings of the same amount in its fourth quarter.

The real estate investment trust (REIT) had net income of $232.5 million after depreciation and amortization. This total amounts to a positive 24 cents per diluted share.

Net sales for the three-month period that took place in the fall and winter amounted to $610.3 million. Four analysts surveyed by Zacks were calling for revenue of $606.7 million. Over the course of its fiscal year, General Growth Properties raked in $1.47 billion in funds from operations, tallying up to $1.53 per share. Revenue was $2.35 billion.

In the first quarter of fiscal 2017, the REIT predicts that FFO somewhere between 35 cents to 37 cents per share. For the full year, this statistic will be around $1.56 to $1.61 per share, slightly higher than 2016.

GGP stock eked 0.6% higher after the bell yesterday and is trading up 3.4% as of this writing.

Sanmina Corp (SANM)

Sanmina also had earnings data to report as we wrap up the first month of the new year. The contract electronics manufacturer reported earnings of $44.9 million, or 58 cents. Adjusted for one-time gains and costs, the company brought in a profit of 75 cents per share.

The Wall Street consensus estimate was calling for earnings in the range of 67 cents to 72 cents per share on a non-GAAP basis. Additionally, Sanmina announced revenue of $1.72 billion over the three months that made up the company’s first quarter of fiscal 2017.

The figure also topped analysts’ projections of $1.69 billion by a narrow margin. For its fiscal second quarter, the company expects to bring in between $1.68 billion and $1.73 billion.

Additionally, earnings will likely be in the range of 67 cents to 72 cents per share on a non-GAAP basis, according to company projections. Analysts expect Sanmina to earn 66 cents per share in the quarter, or revenue of $1.65 billion.

SANM shares skyrocketed 10.9% after Monday’s market close, but has since tempered its rally to a gain of 2%.

Article printed from InvestorPlace Media, https://investorplace.com/2017/01/3-stocks-to-watch-on-tuesday-advanced-energy-industries-inc-aeis-ggp-inc-ggp-and-sanmina-corp-sanm/.

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