Shares of Pitney Bowes Inc. (NYSE: PBI) tumbled about 17% by midday trade after the mail and document services provider handed lower-than-expected fiscal first quarter earnings and slashed its dividend. For the first quarter, Pitney Bowes reported adjusted earnings of 42 cents a share, missing analysts’ consensus estimate by 2 cents a share. The quarterly revenue was slashed to 18.75 cents a share from 37.5 cents a share, in the year earlier quarter.
Shares of Aetna Inc. (NYSE: AET) gained about 3.40% by midday trade after the diversified healthcare benefit company raised its full-year guidance, driven by increase in Medicaid and Medicare premiums. Stripping out onetime items, adjusted earnings climbed to $1.50 a share from $1.34, in the year-earlier quarter. Analysts’ consensus estimate was for earnings of $1.39 a share, according to a data compiled by Thomson Reuters. For the period, revenue rose to $9.54 billion.
Shares of Buffalo Wild Wings plunged (NASDAQ: BWLD) fell about 4.30% by midday trade. Although the restaurant chain’s fiscal first quarter revenue topped analysts’ estimate, net income plunged 10% due to higher wings costs and also fell short of Street’s consensus forecast. For the quarter ended March 31, Buffalo Wild Wings posted a profit of $16.4 million or 87 cents a share down from a profit of $18.2 million or 98 cents a share, in the same quarter of last fiscal. Revenue surged 21% to $304.4 million from $251.1 million, in the same quarter of last fiscal. Analysts’ consensus estimate was for earnings of 99 cents a share on revenue of $303.9 million, according to a data compiled by FactSet Research.
Shares of Herballife Ltd. (NYSE: HLF) gained about 2.75% by afternoon trade after nutrients supplement and skin care products maker reported fiscal first quarter results late last evening, which showed earnings edging past Street’s estimate and revenue falling slightly short of consensus expectation. The Company also raised its outlook on full-year earnings. The Company now anticipates earnings to come between $4.60 a share and $4.80 a share compared to analysts’ estimation of $4.66 a share. For the fiscal first quarter, Herbalife posted profit of $118.9 million or $1.10 a share compared to net income of $108.2 million or 88 cents a share, in the year-earlier quarter. Adjusted earnings climbed to $1.27 a share from 88 cents a share. Revenue jumped 14% to $1.10 billion from $964 million. Analysts surveyed by Thomson Reuters had forecasted earnings of $1.06 a share on revenue of $1.12 billion.
Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT) climbed about 3.60% by midday trade after the hotel chain reported better-than-expected fiscal first quarter earnings and revenue and lifted its earnings guidance for full-year 2013. Excluding onetime items, adjusted earnings stood at 76 cents a share compare to 63 cents, in the year-earlier quarter, Analysts polled by Thomson Reuters were expecting earnings of 53 cents a share.
Worldwide system-wide revenue per available room (RevPAR), equivalent to same-store-sales in the retail industry, rose 5%, excluding the impact of currency fluctuations. Including the impact of currency fluctuations, RevPAR increased 4.6%. RevPAR in North America jumped 6.2%, excluding the impact of currency fluctuation.