4 Stocks Making Waves in the Market After Earnings
This story from Wall Street Cheat Sheet
Stocks were mostly flat Thursday, but these companies excited investors after earnings and continue to stay in the spotlight today:
1) Viacom (NYSE:VIA): Net income decreased to $610 million ($1 per share) for the most recent quarter. Prior year’s same quarter was $694 million ($1.14 per share). Due to lower home entertainment sales, revenue also decreased from $4.02 billion to $3.83 billion. Shares traded down nearly 1% during Thursday trading.
2) Merck (NYSE:MRK): The company disappointed investors Thursday, as shares traded down 2.7%. The company reported a $531 million (17 cents per share) net loss for the fourth quarter. Merck also took a $1.7 billion charge due to failed testing on its anit-clotting drug vorapaxar.
3) Harmonic (Nasdaq:HLIT): The video services provider delivered mixed quarter results, but traders chose to only hear the good. Due to increased expenses, the company reported a net loss for the fourth quarter. However, traders sent shares 5.5% higher in after hour trading due to the company’s adjusted profit topping estimates. Excluding one time items, the company reported $12.5 million (11 cents per share) net income. Last year’s net income was only $6.3 million (7 cents per share).
4) CVS Caremark Corporation (NYSE:CVS): Thursday trading wasn’t so healthy for the stock as shares traded down 5%. CEO Larry Merlo admitted that profits at the Caremark unit will decrease for the second consecutive year. Fourth quarter profit fell 2% $1.03 billion. Revenue also fell from $25.82 billion to $24.77 billion.
Disclosure: No positions
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