These Big Name Stocks Are Causing Waves in Pre-Market Trading
This story from Wall Street Cheat Sheet
The Dow (NYSE:DIA) finally broke 12,000 on Wednesday. Although the Dow didn’t close above 12,000, lets look at the earnings that will help shape Thursday’s closing.
These 6 big stocks announced earnings on Wednesday night and are actively traded in pre-market trading this morning:
1) Starbucks (Nasdaq:SBUX): Shares fell 1.7% during regular trading hours, then continued to fall another 2.6% in after-hour trading. Net income for the most recent quarter rose 44% to $346 million (45 cents per share). The continued rise of coffee bean prices seem to overshadow the company’s profit.
2) Netflix (Nasdaq:NFLX): Shares screamed 10% higher in after-hour trading. The company earned $47.1 million (87 cents per share) for the fourth quarter, compared to only 56 cents per share in the prior year same quarter. Analysts estimates of 71 cents were easily beat. Netflix also added 3.1 million subscribers in the fourth quarter.
3) QualComm (Nasdaq:QCOM): With sales up 25%, and earnings up 40%, shares had no problem increasing over 6% after the closing bell. The company earned $1.17 billion (71 cents per share) for the most recent quarter. This was an improvement to last year’s 50 cents per share.
4) E*Trade (Nasdaq:ETFC): The company reported a surprise loss for the fourth quarter. The net loss for the fourth quarter was $24 million (11 cents per share). In the previous quarter, the company earned $8 million. Investors traded out of E*Trade and sent the stock down 2.5% in after hours.
5) Symantec (Nasdaq:SYMC): Symantec beat estimates by earning $132 million (17 cents per share). Revenue rose by 4% to $1.6 billion, compared to prior year’s $1.55 billion. Shares are up 2.8% on the good news.
6) Citrix (Nasdaq:CTXS): The company earned $94 million (49 cents per share). Revenue increased from last year’s $451 million to $530 million in the fourth quarter. Shares traded up 2.5% during regular market hours, then continued to advance another 2% after the closing bell.
Disclosure: No positions.
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