Tomahawk, WI 8/18/2011 (PennyPayDay) – Retailer Sears (SHLD) reported a second-quarter loss of $146 million, or $1.37 a share, wider than a year earlier, as domestic comparable-store sales declined. Shares were down 3.7% at $57.91.A year earlier, Sears lost $39 million, or 35 cents a share.
On an adjusted basis, Sears posted a loss of $1.13 a share. Analysts were forecasting the retailer to lose 64 cents a share in the second quarter.
NetApp (NTAP) shares were dropping 14% after the company said its fiscal first-quarter earnings fell. The computer networking company also issued a weak second-quarter outlook.
Shares of JDS Uniphase (JDSU) were falling 2.7% after the company said it expects its fiscal first-quarter revenue to fall short of analysts' estimates.
The maker of communications equipment maker posted increases in fourth-quarter earnings and sales. But JDS Uniphase said first-quarter net revenue would come in at about $400 million to $425 million; analysts were expecting $471 million.
Consol Energy (CNX) agreed to sell a 50% stake of its Marcellus Shale acreage in Pennsylvania and West Virginia to Noble Energy for $3.4 billion. The companies said the joint development plan calls for the rig count to increase from four to 16 by 2015. Consol shares were up 11% to $47.
Dollar Tree (DLTR) shares were losing 4% to $63.80 after the discount retailer reported weaker-than-expected sales for the second quarter. The company's sales rose 12% to $1.54 billion, but fell short of estimates for $1.55 billion.
Hewlett-Packard (HPQ) is expected to post adjusted quarterly earnings of $1.09 a share after the markets close Thursday on revenue of $31.2 billion. The PC and printer maker earned $1.08 a share a year earlier on revenue of $30.7 billion.
Shares were down 1.2% to $31.02 in premarket trading Thursday.
J.M. Smucker (SJM) booked weaker-than-expected sales of $1.19 billion for the quarter ended July 31, though the figure was 13% higher than a year earlier. Analysts had expected Smucker to book quarterly revenue of $1.25 billion. The company also lowered its 2012 revenue outlook, citing weakening demand and recent price cuts. Adjusted quarterly earnings of $1.12 a share beat expectations by 3 cents.
Coca-Cola (KO) plans to invest $4 billion in China over the next three years as the company tries to improve global growth. China accounts for 7% of Coca-Cola's global sales by volume. The stock was down by 1.4% to $68.32.
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