Shares of Microsoft Corporation (NASDAQ: MSFT), Hewlett-Packard Company (NYSE: HPQ) slumped on Thursday after market research consulting firm IDC said that sales of PCs tumbled 12.9% in the first quarter of the current year, a steepest decline in quarterly sales since 1994 when IDC started keeping track on quarterly PC sales.
Continue reading Major Movers on April 11; MSFT, ROST, FTNT, APOG, XRX, RT, IART, ZUMZ
Shares of CarMax Inc. (NYSE: KMX) gained about 2.30% by afternoon trading after the largest used car seller in the U.S. reported on Wednesday that fiscal fourth quarter profit climbed 13% as sales in used car and wholesale segment showed strong growth.
Continue reading Major Movers on April 10; KMX, ADTN, MNKD, HMA, PSMT
Although Constellation Brands Inc. (NYSE: STZ) reported on Wednesday that its fiscal fourth-quarter profit shrank 21% from year-earlier quarter mainly due to higher taxes and rise in expenses, adjusted earnings edged past street’s estimate as top line growth was bolstered by strong sales of wines and spirits while its recent acquisition also helped driving up the revenue.
Continue reading Constellation Brands Beats Q4 Earnings Estimate (STZ)
Shares of First Solar Inc. (NASDAQ: FSLR) skyrocketed on Tuesday after the solar maker provided better-than-expected earnings and revenue outlook for fiscal 2013, thanks to its growing power-plant business in emerging markets and expectations over a new kind of panel, which the Company will soon unveil.
Continue reading First Solar Shares Rally After 2013 Outlook (FSLR)
Shares of PriceSmart Inc. (NASDAQ: PSMT) jumped about 3.50% in afterhours trading on Tuesday after the discount warehouse clubs operator said that its income in the fiscal second quarter increased from year-earlier quarter owing to continued improvement in sales.
Continue reading PriceSmart Q2 Results Edge Past Street’s Estimates (PSMT)
Shares of JC Penney Company Inc. (NYSE: JCP) were hammered on Tuesday after the Company said that its Chief Executive Officer Ron Johnson decided to leave the Company. Meanwhile, the Company has re-appointed ex-CEO Mike Ullman at the top position, on interim basis. The beleaguered department chain, whose shares slumped 44% last year which marked Johnson’s first full year as a CEO, tumbled another 25% through last week as his strategy to overhaul the chain’s business failed to generate customer’s traffic while sales kept dwindling. Johnson stint was for only about one and half years.
Continue reading Major Movers on April 9; JCP, CLF, HIMX, TTEK, FCN
Shares of Advanced Micro Devices Inc. (NYSE: AMD) leaped about 13% on Monday after Bloomberg reported that the software giant, Microsoft Corp. (NASDAQ: MSFT) will be using AMD processors for its upcoming Xbox, videogame console as it looks to slash expenses for making machines and entice developers to roll out more game titles.
Continue reading Microsoft to Use Advanced Micro Devices Chips For its New Xbox Console (AMD, MSFT)
Shares Questcor Corp. (NASDAQ: QCOR) tumbled on Monday after analysts at Favus Institutional Research cut their rating on the stock to “sell” from “buy”, citing concerns over the company’s fiscal first quarter results. In its note to clients, Favus said that should the company fails in meeting or misses Q1 results then it would be not easy to gauge whether the slowdown is due to “external reimbursement pushback or QCOR’s internal reorganization of reimbursement process.” The research firm said that sales could feel the pressure as bulk orders for the Achtar Gel (repository corticotropin injection), which is its primary product, were filled in late fiscal fourth quarter.
Continue reading Major Movers on April 8; QCOR, NIHD, BCRX, GOL, LUFK, EPL
General Electric Company announced on Monday that it has agreed to acquire oilfield services provider, Lufkin Industries Inc. (NASDAQ: LUFK), in deal estimated at about $ 3.38 billion.
Valero Energy Corporation (NYSE: VLO) said on Friday that its board has approved the plan to spin off retail business, CST Brands, as the Company shifts its focus on key strategic areas.
Continue reading Valero Energy to Spin Off its CST Brands Business (VLO)