Netflix posted a healthy second quarter but said efforts to separate its DVD-by-mail and Internet video streaming plans would weigh on the current period's results, sparking concern the video rental giant's growth might stall. Shares were down 8.1% at $258.82 in premarket trading.
Broadcom Corp. reported better-than-expected second-quarter earnings and third-quarter revenue outlook, driven by rising demand for mobile devices. Shares jumped 8.3% to $37.81 in pre-market trading.
Baidu's second-quarter earnings jumped 95% as China's Internet-search leader continued its rapid customer growth and revenue improvement, including strong spending by its larger advertising customers. The company's American depositary shares were up 8.1% at $169.24 premarket, as it forecast third-quarter revenue would be stronger than expected.
Ford Motor Co. (F) said its second-quarter net income slipped more than 7% as the auto maker increased spending on new-model development and paid higher prices for commodities such as steel and plastics. But its adjusted earnings topped Street estimates and shares were up 1.7% to $13.39 in pre-market trading.
Weatherford International Ltd. (WFT) rebounded in the second quarter from a year-earlier loss caused by write-downs and severance costs as the oil-field services company again reported strong growth at its North American operations. Shares gained 6.9% to $21.85 premarket.
Valero Energy Corp.'s (VLO) second-quarter earnings rose 28% as the largest independent refiner in the U.S. benefited from sharply stronger refining margins and volume growth. Still, shares were down 1.5% at $26.29 in pre-market trading as earnings missed analysts' estimates.
U.S.-based solar-panel maker SunPower Corp. (SPWRA) predicted its second-quarter loss and adjusted gross margin would be worse than expected, citing market conditions in Germany and recent solar-policy changes in Italy. SunPower's Class A shares were down 4% at $20.05 in pre-market trading.
Covidien PLC (COV), which makes operating-room gear, generic drugs and other items, saw its fiscal third-quarter earnings rise 47% as acquisitions and new products continued to drive sales growth. Shares rose 5.4% to $52.94 in pre-market trading.
RadioShack Corp.'s (RSH) second-quarter earnings slid 53% on a drop in sales at its U.S. consumer electronics stores. It also disclosed a pact with Verizon Wireless to offer its products and services beginning in September. Under the new Verizon deal, RadioShack will offer prepaid and postpaid wireless products and services in more than 4,300 RadioShack company-operated stores beginning Sept. 15. It will stop carrying T-Mobile products the day before. Shares climbed 7% to $14 in pre-market trading even as the results missed estimates.
Regions Financial Corp.'s (RF) swung to a surprise second-quarter profit, its third in a row, as the lender benefited again from shrinking loan-loss provisions and improved credit quality. Shares were 1.3% higher at $6.29 in pre-market trading.
Qiagen NV's (QGEN, QIA.XE) second-quarter profit fell 14% as a benefit from last year's restructuring efforts masked slightly higher core earnings, though the company tempered its expectations for the rest of the year. Shares in the U.S. fell 2.5% to $17.11 in pre-market trading.
3M Co.'s (MMM) second-quarter earnings rose 3.5% as the diversified manufacturer reported sales growth at most of its businesses. For the year, the company again raised the low end of its per-share earnings forecast and affirmed its organic sales volume growth view. Shares slid 2.7% to $92.50 premarket.
Cummins Inc.'s (CMI) second-quarter profit more than doubled as the maker of truck engines and power-generation systems saw its top line helped by strong growth in global truck markets and off-highway markets. Looking ahead, the company again boosted its full-year sales outlook. Shares climbed 5.7% to $112.71 in pre-market trade.
Sanmina-SCI Corp.'s (SANM) fiscal third-quarter profit fell 67%, but the electronics contract manufacturer's adjusted profit was better than expected due to stronger sales. Shares were up 13% at $10.40 in pre-market trading.
ACI Worldwide Inc. (ACIW) offered to acquire S1 Corp. (SONE) for $540 million, as the software company looks to boost its presence in the enterprise payment software industry. ACI said it believes its offer is superior to a deal S1 has with Fundtech Ltd. (FNDT) to combine operations in a stock-for-stock deal that initially valued Fundtech at $318 million. Under terms of ACI's offer, S1 holders will receive $9.50 a share in cash and/or stock, a 33% premium to Monday's closing price. S1 shares surged 33% to $9.48 premarket while Fundtech's fell 7.4% to $17.75.
W.R. Grace & Co.'s (GRA) second-quarter profit jumped 49% as pricing improvements and strong sales in emerging regions boosted results, leading the chemical company to raise its outlook for the current year. Shares gained 4.8% to $48 in pre-market trading.
National Oilwell Varco Inc.'s (NOV) second-quarter profit jumped 20% as the oilfield firm's services and supply segment posted sharply higher earnings. Shares climbed 2.2% to $84.10 premarket.
STMicroelectronics NV's (STM, STM.MI) second-quarter earnings grew 18% as the European chip maker recorded a $305 million gain related to a settlement with Credit Suisse Group (CS, CSGN.VX), as well as slightly higher revenue. The company--which supplies chips for the handset, computing, automotive and industrial sectors--also issued a weak third-quarter revenue forecast. Shares fell 9.2% to $8.27 in pre-market trading due to the weak outlook. Additionally, the company's adjusted bottom line in the latest quarter missed Wall Street's expectations.
American Apparel Inc. (APP) will sell its products on eBay Inc.'s (EBAY) online-auction site as part of its efforts to expand into new markets and open new distribution channels. The clothing retailer's shares rose 33% to $1.37 premarket.
DryShips Inc. (DRYS) bought OceanFreight Inc. (OCNF) for $118 million as the cargo transporter looks to add additional vessels with long-term charters to its fleet. OceanFreight holders will get $11.25 a share in cash and 0.52326 share of Ocean Rig UDW Inc., a drilling services company majority-owned by DryShips, for each share they hold, valuing the stock at $19.85, a sharp premium to Monday's close of $9.47. The stock surged 83% to $17.35 premarket, while DryShips slipped 1.8% to $8.76.
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