Shares of SINA Corporation (NASDAQ: SINA), an online media company serving China and the global Chinese communities, are soaring in trading today.
At last check, SINA shares were trading 13.10% higher at $57.57 on above average volume of 6.11 million. The stock touched an intra-day high of $57.75 in trading today.
SINA shares are soaring after the China-based company reported its second-quarter financial results. For the second quarter ended June 30, 2012, SINA reported net revenue of $131.6 million, representing an increase of 11% over the same period in the previous year.
SINA’s non-GAAP net revenue for the quarter rose 11% to $126.9 million. Advertising revenue for the quarter rose 12% to $103.1 million in the quarter ended June 30, 2012.
SINA’s net income for the quarter was $33.2 million, or $0.49 per share.
Charles Chao, CEO of SINA Corp., said that SINA is pleased to continue to grow its online advertising business despite a challenging macroeconomic environment in China.
Shares of Perrigo Company (NASDAQ: PRGO), a global healthcare supplier engaged in the development, manufacturing and distribution of over-the-counter and generic prescription pharmaceuticals, infant formulas, nutritional products and active pharmaceutical ingredients (API), are down sharply in trading today.
At last check, PRGO shares were trading 7.86% lower at $107.43 on above average volume of 958,609. The stock fell to an intra-day low of $106.56 in trading today.
PRGO shares fell sharply even as the company reported record fourth quarter and fiscal year 2012 financial results.
For the full year, PRGO reported revenue from continuing operations of $3.2 billion, a record and up 15% over the previous year. The company’s GAAP income from continuing operations for the full fiscal year was $393 million or $4.18 per share, representing an increase of 15% over the previous fiscal year.
For the fourth quarter, PRGO reported GAAP income from continuing operations of $107 million, or $1.14 per share, representing an increase of 25% over the same period in the previous year.
Shares of Electronic Arts Inc. (NASDAQ: EA), developer, marketer, publisher and distributor of game software content and services that can be played by consumers on a variety of video game machines and electronic devices, are soaring in trading today.
At last check, EA shares were trading 9.70% higher at $14.36 on above average volume of 5.72 million. The stock touched an intra-day high of $14.39.
EA shares are soaring after the New York Post reported that the company is exploring a sale as it struggles to grow its business. The New York Post, citing sources familiar with the matter, said that EA has been approached by private equity firms KKR and Providence Equity Partners.
Shares of Agilent Technologies Inc. (NYSE: A), a measurement company offering bio-analytical and electronic measurement solutions to the communications, electronics, life sciences and chemical analysis industries, are down sharply in trading today.
At last check, Agilent shares were trading 6.77% lower at $37.74 in above average volume of 4.61 million. The stock fell to an intra-day low of $36.85 in trading today.
Agilent shares are falling after the company reported its third-quarter financial results. For the third quarter ended July 31, 2012, Agilent reported revenue of $1.72 billion, up 2% over the same period in the previous year.
The company reported GAAP net income of $243 million, or $0.69 per share, compared to $330 million, or $0.92 per share reported for the same period in the previous year.
Bill Sullivan, President and CEO of Agilent, said that the company’s performance in the third quarter did not meet with revenue and earnings guidance. Sullivan said that the company has clearly entered an environment of much slower growth, resulting in deals taking longer to close and customers delaying their order deliveries.
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