Bookmark and Share

Major Movers on February 8; LNKD, CZR, NUAN, RVBD

Shares of LinkedIn Corp. (NYSE: LNKD), a professional network on the Internet, are soaring in trading today after the company reported better-than-expected fourth-quarter earnings, driven by an 81% increase in revenue.

LNKD shares rose to an all-time high of $148.90 in trading today. At last check, the stock was trading 18.08% higher at $146.52 on above average volume of 5.97 million.

Another big gainer in trading today is Caesars Entertainment Corp. (NASDAQ: CZR), a provider of casino entertainment services. Shares of Las Vegas-based company are currently trading 27.43% higher at $12.83 on above average volume of 2.44 million. The stock hit an intra-day high of $13.59 earlier today. CZR shares have gained more than 56% in the last three trading sessions.

Shares of Nuance Communications Inc. (NASDAQ: NUAN), a provider of voice and language solutions for businesses and consumers globally, have plunged in trading today after the company reported a loss in its first quarter of fiscal 2013.

Burlington, Massachusetts-based Nuance Communications reported a net loss of $22.1 million, or $0.07 per share for the first quarter of fiscal 2013, compared to net income of $9.3 million, or $0.03 per share reported for the same period in the previous year.

On a non-GAAP basis, NUAN reported net income of $112.96 million, or $0.35 per share for the first quarter, compared to $108.55 million, or $0.34 per share reported for the same period in the previous year. The company’s adjusted earnings for the quarter fell short of Street estimates of $0.36 per share.

Revenue for the first quarter of fiscal 2013 was $462.27 million, up 28.2% over the same period in the previous year. The company’s adjusted revenue for the quarter was $492.42 million, up from $382.05 million reported for the same period in the previous year. The company’s revenue for the quarter fell well short of analysts’ forecast of $492.42 million.

NUAN shares fell to an intra-day low of $19.80 earlier today. At last check, the stock was down 18.37% to $20.04 on above average volume of 12.38 million.

Shares of Riverbed Technology Inc. (NASDAQ: RVBD), a developer of solutions that address the fundamental problems associated with information technology (IT) performance across wide area networks (WANs), have also tumbled in trading today after the company reported its fourth-quarter financial results.

For the fourth quarter, RVBD reported net income of $4.78 million, or $0.03 per share, down from $20.15 million, or $0.12 per share reported for the same period in the previous year. On an adjusted basis, RVBD reported net income of $46.46 million, or $0.29 per share for the quarter, compared to $41.1 million, or $0.25 per share reported for the same period in the previous year. The company’s adjusted net income for the quarter came in-line with Street estimates. Total revenue for the quarter was $237.8 million, up from $202.84 million reported for the same period in the previous year.

RVBD shares fell to an intra-day low of $15.92 earlier today. At last check, the stock was trading 19.35% lower at $16.21 on above average volume of 10.32 million.