Boston, MA 05/20/2014 (wallstreetpr) – Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) intends to spend $50 million for the improvement of its San Antonio refinery. It acquired the refinery in January 2013 from NuStar Energy L.P. (NYSE:NS) for $30 million. However, the plant has been riddled with almost frequent spills with the latest happening last Friday. The planned investment to improve the plant should lead to fixing of the leaks. The company said that the Friday leak was contained on time. The leak occurred during a planned maintenance of the facility. Calumet’s encouraging 1Q financial performance helped boost investor and analyst confidence in the stock. Several analysts have issued positive comments on the stock in recent times. With the shares trading in the range of $31 per piece, analysts on the average expect the shares to hit $32.34 with a 12-month timeframe. The company reported 1Q EPS of 50 cents, beating consensus estimate of 9 cents for the quarter. The company generated $1.34 billion in revenue in 1Q, against the anticipated $1.23 billion.
The $1.4 billion provider of thermal management technology Gentherm Inc (NASDAQ:THRM) said its CFO Barry Steele will present at two upcoming investor conferences. The company will share its performance highlight, opportunities, challenges and efforts before the participating investors. The first presentation will be on May 28 at the Annual Craig-Hallum Institutional Investor Conference at Marriott City Center, Minneapolis. The second presentation will be on May 29, at the KeyBanc Capital Markets Conference that will bring together players and stakeholders in the industrial, automotive and transportation sector. The KeyBanc event will take place at InterContinental Hotel, Boston. Gentherm Inc (NASDAQ:THRM) last reported its financial performance on May 1, during which the company reported 1Q EPS of $0.47, beating consensus estimate at $0.29. Revenue in the quarter was $193.94 million, ahead of the consensus estimate of $173.20 million. Both revenue and earnings were up in the latest quarter on a year-over-year basis.
MannKind Corporation (NASDAQ:MNKD) entered 2Q2014 from a disadvantaged point after it reported a soft 1Q. The company saw its 1Q losses up compared to the same period last year. The loss per share in the quarter also exceeded the consensus estimate. The higher loss in 1Q was due to increase in expenses. The company promised to undertake initiatives to support the bottom-line in the future.