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Monday's Earnings Announcements


AAR Corp, Park Electrochemical, and Synnex will all report results. Imperial Holdings might.

MINYANVILLE ORIGINAL For a jump on Monday's movers, here are the scheduled earnings announcements for Monday, June 25:

AAR Corp (AIR): On June 15, AAR said it expected to report a slightly lower EPS for the fourth quarter (about $0.45 compared to estimates of $0.48). This was taken to be bad news by the market, which pushed shares to a low for the year. The company countered this by announcing a $50 million stock repurchase program on June 18, followed by two insiders buying 25,000 shares as they reported to the SEC.

Ambow Education Holding (AMBO) Investors in AMBO filed a class action lawsuit after the company's revenue fell from $94 million to $14 million after writing off "discontinued operations"; this didn't stop Wells Fargo from initiating coverage with an "Outperform" rating. (See: Analyzing Analysts' Language.)

Apollo Group (APOL): APOL ranked 452 on the Fortune 500 list for 2011 and boasts Margaret Spelllings, former US secretary of education (2005-2009), on its board. It's also facing decreased enrollment, increased regulation, and a long-running securites class action lawsuit stemming from encouraging students to take out Title IV loans to pay for tuition. This is the reason it cut its projections in March for the results due in a conference call Monday at 5:00 p.m. EDT.

GenCorp (GY): GY, which owns subsidiary Aerojet-General, announced in April it was redeeming $75 million senior subordinated notes at 9.5% in May. Then at the end of May it filed documents with the SEC that it was entering a revolving credit facility worth $150 million with Wells Fargo at an unspecified rate.

Imperial Holdings (IFT): IFT announced a delay in filing its year-end 2011 10-K shortly after its president took a leave of absence on the date of the deadline for investors to join in a class action suit against the company. In May, Bulldog Investors filed a 13-D announcing it had increased holdings of IFT shares worth over $8.5 million representing over 10% of the outstanding shares. June 19 Bulldog filed a 14-A with the SEC regarding a special vote for a new slate of directors and a new accounting firm. Although it's unlikely that IFT will make its previously scheduled earnings announcement, Bulldog Investors may take the opportunity to discuss its intentions for the company.

Park Electrochemical (PKE): PKE plans to discuss its earnings in an 11 a.m. EDT conference call on Monday. Earlier in June it announced a cash dividend of $0.10/share payable in August possibly to counter a downgrade announced on May 28 by TheStreet, which was clearly a reaction to the company's May 10 10-K filing revealing that sales for fiscal 2012 (ending in February) decreased sharply.

Synnex Corp (SNX): In March Synnex was downgraded to Neutral from Buy at Citigroup and from Buy to Hold at Stifel Nicolaus. In May, the news looked better as the company moved up on the Fortune 500 for the sixth year in a row, jumping 28 in 2012 spots to number 253. Curiously, on May 7 and 9 there was an odd exchange of missives posted on the SEC between Synnex CFO and the SEC's Division of Corporate Finance over a dispute of a previous SEC comment about the company's 10-K for 2011. The SEC clearly had the last word as it was revealed in an 8-K filed with the SEC on June 9 that Mr. Thomas Alsborg was retiring later this year.

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