Littelfuse (LFUS) Boosts Profit Projections; Blackstone Holdings Sees Potential In Clear Channel Outdoor (CCO)

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Littelfuse, Inc. (Nasdaq:LFUS) shares climbed over 6% to touch a new 52-week high in the extended session Monday after the company said that it now expects to deliver quarterly revenue and profit numbers above its previous outlook – and also above analysts’ expectations.

For the third quarter 2016, Littelfuse now projects sales to range between $279 million and $281 million versus previously reported guidance of $262 million to $272 million, and adjusted net income to be in the range of $1.85 to $1.89 per diluted share, compared to previous outlook of $1.36 to $1.50 per diluted share, easily surpassing the Capital IQ Consensus Estimate of $1.44 earnings per share on revenues of $269.31 million for the period

LFUS stock closed at $129.30, up $3.60 (or +2.86%) with a total volume of 85,220 shares traded

Littelfuse, which designs, manufactures, and sells circuit protection devices for use in the automotive, electronics, and industrial markets worldwide, has 22.45M Shares Outstanding. At close on Monday, the company had a Market Capitalization of $2.90B and LFUS stock one-year range was from $90.61 to $130.79 per share

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Blackstone Holdings I L.P. disclosed after the closing bell Monday in a regulatory filing ( SC 13G ) with the U.S. Securities and Exchange Commission (SEC) a 6.8% stake (3,220,940 shares) in the outdoor-advertising company Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

CCO stock closed at $5.75 and 88,995 of its shares changed hands during the day

Clear Channel Outdoor Holdings, which owns and operates advertising display faces worldwide, has 47.18M Shares Outstanding, Market Capitalization (intraday) of $2.08B and CCO stock 52-week range is between $2.97 and $7.74 per share

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