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3 Stocks Move Tuesday

- By Omar Venerio

Shares of Logitech International SA (LOGI) plunged 11% Tuesday after announcing second-quarter results. The company posted earnings per share of 49 cents and revenue of $691.15 million, reflecting 9.3% year-over-year growth. It beat earnings estimates by 4 cents but was in-line revenue estimations.

The GAAP operating income was $65 million, compared to $59 million in the same trimester a year ago. GAAP earnings per share rose 15 % to 38 cents , compared to 33 cents .

Non-GAAP operating income increased 18 % to $85 million, compared to $71 million in the same quarter a year ago. N on-GAAP earnings per share grew 26 % to 49 cents , compared to 39 cents .

Looking ahead , the company confirmed its fiscal year 2019 outlook of 9-11 % sales growth in constant currency and $325 million to $335 million in non-GAAP operating income.

Shares of United Technologies Corp. (UTX) jumped more than 1 .5 % after the company reported th ird -quarter earnings per share of $ 1 . 9 3 on revenue of $ 1 6 . 51 b illion, reflecting 9 . 6 % year-over-year growth.

Gregory Hayes, the company's CEO, said, "We are well positioned to close out the year as we continue to execute on our strategic priorities. The acquisition of Rockwell Collins, once complete, will further strengthen our position as a premier systems supplier to the aerospace industry."

The company now expects a djusted earnings per share of $7.20 to $7.30, higher than previous figures of $7.10 to $7.25. Also, it is expected s ales of $64.0 to $64.5 billion, up from $63.5 billion to $64.5 billion, and o rganic sales growth of approximately 6 % , up from 5-6 %.

Waters Corp. (WAT) shares dropped 5% Tuesday on weak financial results. The company posted third-quarter earnings of $1.92 on revenue of $578.02 million. The company beat earnings estimates by 2 cents but fell short of revenue estimations by $9.63 million.

During the quarter, sales in the pharmaceutical market rose 1%, sales into the industrial market grew 2% and sales into the government al and academic markets increased 7%.

By areas , sales in Asia during the quarter rose 6%, Americas grew 2% (with U.S. sales flat) and Europe declined 3%.

The company expects fourth quarter 2018 sales growth to be in a range of 3-4%. The c ompany also projects fourth quarter 2018 non-GAAP earnings per fully diluted share to be between $2.55 and $2.65.

D isclosure: The author holds no position in any stocks mentioned.

This article first appeared on GuruFocus.