Market Roundup

Shares of Korn/Ferry International KFY surged about 7% after the company reported upbeat earnings for the fourth quarter. Korn/Ferry reported its quarterly earnings at $0.43 per share, up from $0.19 per share, in the year-ago period. Excluding certain tax adjustments, the company's earnings came in at $0.39 per share. Korn/Ferry's fee revenue surged to $197.3 million, from $168.7 million, in the year-ago quarter. The company's total revenue surged to $205.8 million, from $176.9 million, in the year-ago period. The company's quarterly net income increased to $20.4 million, from $ 8.9 million, in the year-ago period. However, analysts were expecting earnings of $0.32 per share on revenue of $191.01 million. Korn/Ferry's compensation and benefits rose 13% y/y to $133.5 million. Its general and administrative expenses climbed 2% y/y to $29.0 million. Korn/Ferry projects Q1 fee revenue to be in the range of $190 to $205 million and earnings to be in the range of $0.30 to $0.36 per share. Analysts expected revenue of $199 million and earnings of $0.31 per share. Shares of Finisar Corporation FNSR dropped about 2.7% as the company is all set to report its quarterly results after the closing bell. Finisar is estimated to report its Q4 EPS at $0.33 on revenue of $242.89 million. Shares of Breakwater Resources Ltd BWLRF jumped about 41% after the company agreed to be bought by Nyrstar NV for C$7 (US$7.23) per share in cash, or C$619 million (US$639.5 million). Under the deal, Breakwater would issue a dividend of C$0.50 per share to its holders, bringing the total value of the deal to C$663 million. The deal price and special dividend, represents up to 44% premium over Breakwater's closing price of C$5.20 on Tuesday on the Toronto Stock Exchange. Shares of Clarcor Inc CLC gained about 5.5% after the company reported a 37% surge in its second-quarter earnings. The company's earnings climbed to $32.8 million, or $0.64 per share, from $23.9 million, or $0.47 per share, in the year-earlier period. Clarcor's revenue increased 12% to $288.5 million. Analysts were expecting earnings of $0.56 per share on revenue of $282.8 million. Clarcor lifted its full-year earnings forecast to $2.25 to $2.40 per share. Read more from Benzinga's Markets.