Shares of Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) soared about 25% by afternoon trade after the coffee maker, late last evening, announced that it has extended its partnership with the world’s biggest coffee-store chain, Starbucks Corp (NASDAQ: SBUX). Under the latest agreement, Green Mountain would triple its supplies of KEURIG Brewers line of products to Starbucks.
The Waterbury VT based Company also announced better-than-expected fiscal second quarter earnings although revenue fell a tad short of Street’s estimate.
Shares of Activision Blizzard Inc. (NASDAQ: ATVI) slumped 7.40% by afternoon trade after the videogame publisher late last evening provided slightly downbeat revenue guidance for the fiscal second quarter and reported that its subscribers’ base of leading title “World of Warcraft” plunged 1.3 million in the first quarter, adding that it could further contract amid extremely competitive landscape. However, the Company posted strong growth in fiscal first quarter net income, thanks to robust demand for its “Starcraft II: Heart of the Swarm,” its new PC game developed from Blizzard unit. Adjusted earnings in the fiscal first quarter came at 17 cents a share, which was 6 cents above analysts’ consensus estimate, according to a data compiled by FactSet. Adjusted revenue (revenue excluding deferred payments) was also better-than-expected.
Shares of Groupon Inc. (NASDAQ: GRPN) rallied about 8.50% by afternoon trade after the daily-deals site, late last evening handed better-than-expected fiscal first quarter revenue while adjusted earninsg matched expectation. The Company also narrowed its net loss more-than-expected. The Chicago Il provided optimistic guidance for the fiscal second quarter. Revenue soared 42% in North America but in international markets it plunged 18%. The Company also said that a special committee has been appointed to search for a new Chief Executive. Back in February, Groupon fired its co-founder and Chief Executive Andrew Mason for consistently failing to revive flagging business.
Shares of Tesla Motors Inc. (NASDAQ: TSLA) skyrocketed about 29% by afternoon trade after the electric car maker on Wednesday reported first even quarterly profit since its inception, ten years ago. For the fiscal first quarter, Tesla reported adjusted earnings of $15 million or 12 cents a share while analysts were expecting a loss of penny a share. Revenue soared to $561.8 million from $30.2 million, in the same quarter of last year. The Company also lifted its full-year guidance on worldwide deliveries by 1000 units to 21,000. In the second quarter, Tesla is expecting to deliver 5,000 cars.
Shares of Rackspace Hosting Inc. (NYSE: RAX) plunged about 24% by afternoon trade. Although the cloud computing service provider topped Street’s estimate on earnings by 2 cents a share for the fiscal first quarter, revenue fell short of expectation. The Company reported sales of $362 million while Wall Street was expecting $367 million.
Shares of Barnes & Noble Inc. (NYSE: BKS) leaped about 17% by afternoon trade after TechCrunch quoted sources familiar with the matter saying that Microsoft Corp. (NASDAQ: MSFT) was considering to pay the bookseller $ 1 billion for buying its tablet unit (e-reader business).
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