Headlines this morning include earnings from Humana, Sohu and Clorox, a new share repurchase plan at United Therapeutics and acquisitions by Oracle and Cowen Group.
Insurer Humana (HUM) earned $1.19 per share on revenue of $9.56 billion. Analysts had expected the company to earn $1.06 per share on revenue of $9.73 billion. Looking forward, the company stood by its previous guidance of $7.60 to $7.80 per share for 2013. Revenue is expected to be $41 billion to $41.5 billion. Wall Street expects $7.49 per share on $39.18 billion.
United Therapeutics said Monday that its board approved a plan to repurchase $420 million shares of the company's stock. The pharmaceutical company recently finished a $100 million share repurchase in the fourth quarter. The new authorization will take effect on March 4.
Chinese internet portal Sohu.com reported earnings of 60 cents per share on revenue of $229 million. Analysts had expected 53 cents per share on revenue of $292.46 million. The company said expenses rose to $141.5 million as it spent more on staff and marketing.
Cowen Group (COWN) has agreed to purchase privately owned Dahlman Rose & Co. Terms of the deal weren't disclosed. Dahlman's specialties in metals, mining, oil, gas, transportation, chemicals and agriculture will complement Cowen's core business which focuses on health care, technology, media and telecom.
Clorox reported earnings of 93 cents per share on sales of $1.33 billion for its second fiscal quarter. Analysts had expected the company to earn 81 cents per share on revenue of $1.27 billion. The company said sales of disinfecting wipes were boosted by a severe flu season. Clorox boosted it full-year sales forecast to an increase of 3 to 5 percent from its previous forecast for 2 to 4 percent.
Oracle (ORCL) will purchase network equipment maker Acme Packet (APKT) for about $2.1 billion. The deal values Acme at $29.95 per share, a 22 percent premium to Friday's closing price. Acme's board unanimously approved the deal, which still requires the approval of shareholders and regulators.