Shares of Time Warner Inc. (NYSE: TWX), media and entertainment company operating in three segments; Networks, Filmed Entertainment and Publishing, are up sharply in early trading today. At last check, TWX shares were trading 3.48% higher at $44.61 on volume of 1.82 million. The stock hit an intra-day high of $45.14.
TWX shares are climbing in early trading today after the company reported its third-quarter financial results. For the third quarter ended September 30, 2012, TWX reported revenue of $6.8 billion, down 3% over the same period in the previous year. The company’s operating income for the quarter fell 1% to $1.6 billion.
Jeff Bewkes, Chairman and CEO of Time Warner, said that with one quarter left to go in 2012, the company is on track for another very strong quarter. Bewkes said that the highlight in the third quarter was the strength of its Networks businesses, which delivered double digit Adjusted Operating Income growth.
Shares of Telephone & Data Systems Inc. (NYSE: TDS), a diversified telecommunications service company with wireless operations provided by its 84%-owned subsidiary, U.S. Cellular, and wireline operations provided by its wholly-owned subsidiary, TDS Telecommunications Corporation, are down sharply in early trading today.
At last check, TDS shares were trading 10.61% lower at $23.43 on volume of 207,847. The stock fell to an intra-day low of $23.39 in early trading.
TDS shares are sinking after the company reported its third-quarter financial results. For the third quarter of 2012, TDS reported consolidated operating revenue of $1,370.1 million, representing an increase of 3% over the same period in the previous year. The company’s net income for the quarter was $29.1 million, or $0.27 per share, compared to $71.3 million, or $0.65 per share reported for the same period in the previous year.
LeRoy T. Carlson Jr., President and CEO of Telephone & Data Systems, said that U.S. Cellular and TDS Telecom achieved modest revenue growth, while profitability declined due to increasing smartphone subsidies, declining regulatory support and investment spending.
Shares of Ciena Corporation (NASDAQ: CIEN), a provider of communications networking equipment software and services that support the transport, switching, aggregation and management of voice, video and data traffic, are soaring in early trading today.
At last check, CIEN shares were trading 9.26% higher at $14.40 on above average volume of 3.48 million. The stock hit an intra-day high of $14.86 in early trading today.
Shares of Arch Coal Inc. (NYSE: ACI), a coal producer based St. Louis, Missouri, are sinking in early trading today. At last check, ACI shares were trading 11.09% lower at $7.70 on volume of 11.16 million. The stock fell to an intra-day low of $7.50 earlier today.
Shares of Acme Packet Inc. (NASDAQ: APKT), a provider of session delivery network solutions, which enable delivery of voice, video, data and unified communications services and applications across Internet Protocol (IP) networks, are soaring in trading today.
At last check, APKT shares were trading 5.40% higher at $18.34 on volume of 1.13 million. The stock hit an intra-day high of $18.86 in early trading today.
Shares of Alpha Natural Resources Inc. (NYSE: ANR), a supplier and exporter of metallurgical coal for use in the steel-making process and a supplier of thermal coal to electric utilities and manufacturing industries across the country, are sinking in early trading today.
At last check, ANR shares were trading 9.98% lower at $8.66 on volume of 12.08 million. The stock fell to an intra-day low of $8.33 in early trading today.
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