Shares of First Solar Inc. (NASDAQ: FSLR) fell about 9.25% by afternoon trade. Although the solar panel maker, late last evening, reported that it swung into fiscal first quarter profit and handed revenue which edged past Street’s consensus estimate, investors were disappointed as adjusted earnings fell short of expectation. However, the Company maintained its full-year earnings and revenue guidance which exceeded analysts’ consensus estimate.
For the recently concluded quarter, the Company reported adjusted earnings of 69 cents a share against a loss of 8 cents a share, in the same quarter of last year. Revenue climbed 52% to $755 million from $497 million, in the year-earlier quarter. Analysts’ consensus estimate was for earnings of 75 cents a share on revenue of $725 million, according to a data compiled by Thomson Reuters. For the fiscal 2013, the Company is expecting earnings to be in the range of $4 to $4.50 on sales of $3.8 billion to $4 billion. Analysts were expecting earnings of $4.27 a share on sales of $3.84 billion.
Shares of Fossil Inc. (NASDAQ: FOSL) gained about 9.75% by afternoon trade after the accessories maker on Tuesday reported that fiscal first quarter net income jumped 24%. Adjusted earnings and revenue also comfortably edged past Street’s consensus estimates. Sales from company’s own stores including e-sales and sales from other retailers showed strong growth.
Shares of MercadoLibre Inc. (NASDAQ: MELI) rallied about 18% by afternoon trade after the Argentina based e-commerce reported late last evening reported adjusted earnings of 53 cents a share a penny shirt than analysts’ consensus estimate. However, revenue climbed to $102.7 million from year-earlier revenue of $83.7 million, beating analysts’ consensus forecast of $97.44 million.
Shares of Ruckus Wireless Inc. (NYSE: RKUS) tumbled about 25% by afternoon trade after the Wi-Fi solutions provider said that its fiscal first quarter net income fell 92% in the as operating expenses soared, overshadowing strong revenue-growth. The Company not only posted weaker-than-expected results but also provided pessimistic guidance for the current quarter.
Shares of Aruba Networks Inc. (NASDAQ: ARUN) slumped about 22% by afternoon trade after the wireless equipment manufacturer downwardly revised its guidance for the fiscal third quarter, citing weakness in demand in April.
Santarus Inc. (NASDAQ: SNTS) rallied about 11% by afternoon trade after the biopharmaceutical Company’s fiscal first quarter adjusted earnings and revenue topped Street’s consensus estimate. The San Diego based Company also raised its full-year guidance, late last evening. In the first quarter, sales were boosted by its diabetes treatment, Glumetza and the reintroduction of drug called Zegerid, a treatment meant for certain upper gastrointestinal dysfunctions.
Shares of EOG Resources Inc. (NYSE: EOG) climbed about 7.80% by afternoon trade after crude oil producer and marketer on Monday said that fiscal first quarter net income jumped 53%, driven by strong revenue growth. The results also edged past analysts’ consensus estimate.
Shares of DIRECTV (NASDAQ: DTV) gained about 6.80% by afternoon trade after the satellite television company on Monday reported better-than-expected fiscal first quarter results. However, net income fell 5.6% as bottom line took a hit due to foreign exchange volatility.
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