Tomahawk, WI 8/24/2011 (PennyPayDay) – Shares of Pacific Sunwear of California were tanking 17.1% to $1.80 in premarket trading Wednesday after the apparel retailer gave a below-consensus outlook for the third quarter.For the October-ending quarter, Pacific Sunwear said it sees a non-GAAP loss of 10 cents to 18 cents a share with same-store sales in the mid-to-high negative single digits. The current average analysts' view is for a loss of 6 cents a share in the third quarter.
Shares of Avago Technologies were surging 6.2% to $31.07 after the supplier of semiconductor devices topped Wall Street expectations for its third quarter and forecast sequential growth in revenue in the current period.
The company reported a non-GAAP profit of $176 million, or 68 cents a share, for the quarter on revenue of $603 million, up from year-ago equivalent earnings of $152 million, or 61 cents a share, on revenue of $551 million. The average estimate of analysts polled by Thomson Reuters was for earnings of 63 cents a share on revenue of $593 million.
Apparel retailer American Eagle Outfitters on Wednesday reported second-quarter earnings of 10 cents a share vs. the average analyst estimate of 11 cents a share.
Shares were tumbling 4% to $11.15.
Shares of Starbucks were rising 3.5% to $38 after the coffee chain operator said it will discontinue sales of Doubleshot canned espresso beverages at its Canadian shops as it creates room for food products.
Mining company BHP Billiton reported a second-half profit that jumped 62% to $11 billion, excluding certain items, but fell short of the average $11.7 billion estimate of analysts polled by Thomson Reuters. The company also said it's challenged by "tight labor and raw material markets." The stock was losing 1.2% to $79.90 ahead of Wednesday's opening bell.
Digital recorder maker TiVo is expected to report after the markets close Wednesday a second-quarter loss of 21 cents a share vs. a loss of 13 cents a share a year earlier.
Shares were up 0.5% to $8.29.
Shares of Toll Brothers were ticking down 0.3% to $14.70 after the luxury homebuilder said revenue fell 13% to $394.3 million. Analysts were expecting Toll to post third-quarter revenue of $403.6 million.
Fiscal third-quarter profit rose 54% as the company recorded a large tax benefit in the latest quarter.
Toll earned $42.1 million, or 25 cents a share, in the third quarter, up from year-earlier earnings of $27.3 million, or 16 cents a share. The latest period included a tax benefit of $38.2 million from the reversal of previously accrued state and federal taxes, compared to a tax benefit of $26.5 million a year earlier.
Semiconductor services and products provider Applied Materials is expected to post third-quarter earnings of 33 cents a share vs. last year's earnings of 29 cents a share. The report is scheduled for release after the markets close Wednesday.
Shares were unchanged at $11.44.
Wholesale power company Calpine said it plans to buy back up to $300 million of its common shares.
Digital marketing intelligence platform provider comScore is being sued by two Internet users for allegedly installing data-mining software on the computers without their knowledge.
PennyPayday Free Stock Quotes and Approach to the Stock Market
PennyPayday focuses on bringing penny stocks and small-cap companies from all exchanges into the spotlight for investors seeking early development opportunities. PennyPayday has quickly become a recognized penny stock site and a top source for investors seeking information and research on today's emerging hot stocks. PennyPayday provides the investing public with stock market daily news, free real-time stock quotes, free stock charts, research for investing, as well as economic stories, videos, and market briefs from a staff of experienced and dedicated financial journalists.
Sign up for our Free Newsletter today, and join the thousands already getting our emails on the hottest stocks to watch.
Disclaimer: Neither www.PennyPayday.com nor its officers, directors, partners, employees or anyone involved in the publication of this website or newsletters is a registered investment adviser or licensed broker-dealer in any jurisdiction whatsoever. PennyPayday may or may not have been compensated by mentioned companies. For full disclaimer/disclosure please read PennyPayday's disclaimer.
No comments:
Post a Comment