Shares of Whirlpool Corp. (NYSE: WHR) fell about 4.30% in early trade after the home appliances maker reported fiscal first quarter results which showed revenue falling short of Wall Street’s consensus estimate; however, earnings topped expectations, thanks to higher prices and cost slashing measures that helped boosting the bottom line.
Shares of Yum! Brands Inc. (NYSE: YUM) jumped about 7.30% by early trade after the fast food chain, late last evening handed better-than-expected fiscal first quarter earnings. Revenue was slightly short of expectation as dwindling sales in China continued to put pressure on the top line. The outbreak of bird flu in China and the negative publicity Yum Brands received after Chinese regulators found some amount of chemical traces in some of KFC’s products last year, has deterred Chinese customers dining out in KFC stores in China, lately. Same-store-sales in China plunged 20% in the recently concluded quarter, which matched analysts’ forecast. However, the Company is confident of turning things around in coming months as it looks to embark on “aggressive quality assurance marketing campaign”. Same-store-sales in the U.S. increased 1% while it rose 2% in the international division. Stripping out onetime items, EPS stood at 70 cents a share while Street’s consensus estimate was for 60 cents a share. Revenue contracted 7% to $2.54 billion which was slightly lower than Street’s forecast of $2.56 billion.
Shares of Broadcom Corporation (NASDAQ: BRCM) climbed about 6.30% by early trade after the semiconductor maker, late last evening, reported fiscal first quarter’s income more than doubled, driven mainly by growing demand for its connectivity chips and wireless baseband. The Company’s earnings and revenue also topped Street’s estimate. Excluding onetime items, non-GAAP/adjusted earnings came at 65 cents a share, beating analysts’ consensus estimate of 56 cents a share. Revenue during the quarter jumped 9.7% to $2 billion, surpassing company’s own January’s guidance of $1.9 billion. The Company also provided upbeat revenue outlook for the fiscal second quarter. The Company anticipates revenue of $2.10 billion while analysts’ consensus forecast was for $2.05 billion.
Shares of AT & T Inc. (NYSE: T) slumped about 5.25% by early trade. Even though the telecommunication giant’s net income increased 3.2%, thanks to expanding subscribers’ base, revenue fell short of Wall Street’s estimate. EPS, after adjusting onetime items was in-line with analysts’ expectation.
Shares of pharmaceutical company, Amgen Inc. (NASDAQ: AMGN) plunged about 6% by early trade after the company handed lower-than-expected revenue for the fiscal first quarter, late last evening. The Company also said that full-year earnings are now expected to come in the midpoint range of previously announced guidance. Earnings in the first quarter however edged past Street’s estimate.
Shares of DeVry Inc. (NYSE: DV) were hammered after the for-profit education company handed weaker-than-expected fiscal third quarter revenue, after the closing bell on Tuesday. For the quarter, DeVry reported earnings of 90 cents a share on revenue of $5.09 billion. The Wall Street was expecting earnings of 82 cents a share on revenue of $5.17 billion. The Company said enrollments for undergraduate courses slumped 21%, in the recently concluded quarter.
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