In this report: Alliance HealthCare Services (NYSE:AIQ), Zimmer Holdings Inc. (NYSE:ZMH) and Alaska Communications Systems (NASDAQ:ALSK).
Alliance HealthCare Services (NYSE:AIG) shares have soared by more than 20 percent today after the company reaffirmed its 2011 revenue guidance and announced its 2012 full year outlook. The company expects 2011 fiscal revenue to be between $475 million to $495 million while adjusted earnings for the year are expected to be in the $140 million to $150 million range. The company said that it is expecting both result to be at the higher end of those ranges. For the 2012 fiscal year the company expects adjusted earnings of $140 million to $160 million on revenue of $470 million to $500 million. Alliance HealthCare Services currently trades at $1.28 per share.
Zimmer Holdings Inc. (NYSE:ZMH) traded another 1.5 percent higher after the company received an upgrade by analysts at Mizuho. The firm upped its rating on the company to ‘Buy’ from ‘Neutral’ with a $62 price target. The analyst cited potentially improving growth in orthopedic markets and a strengthening knee product cycle. Zimmer Holdings soared 6 percent yesterday after the company announced that it will pay an 18 cents quarterly dividend for the first quarter and initiate a stock repurchase program for as much as $1.5 billion through 2014. The company’s CEO David Dvorak stated that the dividend “reinforces our confidence in the company’s future and our commitment to generating value for stockholders”.
Alaska Communications Systems (NASDAQ:ALSK) dropped by more than 25 percent today after company announced that it would reduce its quarterly dividend to 5 cents per share. The dividend will be payable on January 18th 2012 to shareholders of record as of December 30th 2011. The reduced dividend will allow the company to retain $29.8 million cash on an annualized basis.
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