Tomahawk, WI 8/25/2011 (PennyPayDay) – Apple CEO Steve Jobs has resigned, with Chief Operating Officer Tim Cook stepping up to take the reins of the tech giant.Shares were falling 2.4% to $367.12 in premarket trading Thursday.
Digital video recorder maker TiVo reported a second-quarter loss of 17 cents a share, narrower than the loss of 21 cents a share that analysts were forecasting.
Shares were surging 8.4% to $8.80.
Semiconductor capital equipment maker Applied Materials gave a disappointing outlook for the current quarter. The company expects non-GAAP earnings of 16 cents to 24 cents a share in its fourth quarter with sales seen declining between 5% to 30% on a sequential basis.
The current estimate of analysts polled by Thomson Reuters is for a profit of 30 cents a share in the period on revenue of $2.57 billion.
Shares were falling 4.1% to $10.90.
Applied Materials topped Wall Street expectations for the third quarter.
Hormel Foods raised its full-year earnings guidance to $1.70 to $1.75 a share from its previous projection of earnings of $1.67 to $1.73 and reported third-quarter earnings that topped expectations.
The company reported profit of 36 cents a share in the quarter vs. the average analyst estimate of 35 cents a share.
Retailer Big Lots said second-quarter profit fell 8% as same-store sales fell 1.5%. Big Lots earned $35.7 million, or 50 cents a share, compared with year-earlier earnings of $38.9 million, or 48 cents a share. Excluding the impact of its new Canadian operations, Big Lots said non-GAAP income from continuing operations was $36.9 million, or $52 cents a share.
Analysts were expecting earnings of 44 cents a share.
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