MasterCard reported a 38.4% jump in third-quarter profit Wednesday as spending and transactions made with its credit and debit cards increased. Shares climbed 6.5% to $355.94 in recent premarket trading.
Shares of Garmin rallied 11% to $38.02 premarket after the satellite navigation company reported third-quarter results that beat expectations and provided an upbeat outlook for the full year.
Atmel's third-quarter earnings fell 47% from a year-earlier period that included a hefty tax benefit, though the chip maker reported higher sales and margins. Shares slipped 4.3% to $9.85 in recent premarket trading.
Sony Corp. (SNE, 6758.TO) said Wednesday it swung to a quarterly net loss and now expects to lose over $1 billion this fiscal year, its fourth straight year in the red, stung by a continued inability to curb losses at the struggling television business. Sony's American depositary shares tumbled 5% to $18.70 premarket.
JDS Uniphase Corp. (JDSU) swung to a fiscal first-quarter loss as it booked a tax provision rather than benefit a year earlier. However, shares in the broadband-products maker were up 6.6% at $12.24 premarket as the company's decline in adjusted profit wasn't as deep as expected.
Huntsman Corp. (HUN) swung to a third-quarter loss on a steep restructuring charge, though the polyurethanes business posted stronger revenue and sales prices were up. Shares rose 8.7% to $11.95 in premarket trading.
Heart-pump maker Thoratec Corp.'s (THOR) shares were down 10% to $31.24 in premarket trading after company reported weaker-than-expected third-quarter sales. "In the U.S., it wasn't quite as good and a bit surprising given that our data suggested the overall market is a bit stronger," says analyst Jason Mills at Canaccord Genuity.
Diamond Foods Inc.'s (DMND) $1.5 billion purchase of Pringles snacks from Procter & Gamble Co. (PG) is being held up as Diamond investigates accounting matters regarding some crop payments it made to walnut growers. The deal is expected to close in the first-half of 2011, as opposed to this December, as Diamond's audit committee looks into some external communication regarding the company's accounting methods the crop payments. Diamond Foods shares fell 12% to $56.66 in premarket trading, while P&G shares rose 0.4% to $62.96.
MELA Sciences Inc. (MELA) shares jumped 16% to $6.26 premarket after saying the U.S. Food and Drug Administration has approved its premarket approval application for MelaFind, a non-invasive tool used for early melanoma skin cancer detection. MELA's CEO calls approval the "most important achievement in the company's history," and said MELA plans to launch MelaFind in the northeast U.S. and Germany during the first quarter.
Cognizant Technology Solutions Corp.'s (CTSH) third-quarter earnings rose 11% as revenue surged ahead of the company's own forecast. Still, shares slipped 5.1% to $67.31 premarket.
OpenTable Inc. (OPEN) third-quarter earnings rose 5.8% as the online restaurant-reservation company continued to see its restaurant base and number of customers grow, but shares slid 12% to $38 in premarket trading as revenue growth missed analysts' expectations.
The recent optimism on consumer-electronics and appliance retailer hhgregg Inc. (HGG) from a few quarters proved well-placed as the company's fiscal second-quarter results came in well above consensus expectations amid a 1.5% increase in same-store sales. It tacked on about 5% to the year's earnings-per-share target as a result.
Boston Beer Co.'s (SAM) third-quarter profit grew 5.5% as the brewer of Sam Adams beer reported higher shipment volumes, though advertising, promotional and selling expenses also increased. The latest results topped analysts' expectations and Boston Beer also raised its full-year earnings outlook, pushing shares up 6.5% to $92 premarket.
Foster Wheeler AG's (FWLT) third-quarter income fell 29%, as higher expenses masked improved revenue and growth in the company's power and engineering businesses. Shares lost 5.1% to $19.34 premarket.
TRW Automotive Holdings Corp.'s (TRW) third-quarter earnings fell 21% as the auto-parts maker faced higher costs and slowing demand. SHares slipped 2.1% to $38.01 premarket.
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