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Major Movers on May 10; PCLN, MT, GPS, MCP, UBNT

Shares of Inc. (NASDAQ: PCLN) gained about 3.70% by afternoon trade. The online travel reservation company, late on Thursday reported that fiscal first quarter net income rose 36%, thanks to 42.8% growth in international bookings. Adjusted earnings as well as revenue edged past analysts’ expectation.

However, the Company provided slightly disappointing outlook for the fiscal second quarter.  Revenue for the period came at $1.3 billion up from $1.04 billion, in the year-earlier quarter. Excluding onetime items, non-GAAP earnings stood at $297 million or $5.76 a share up from $221 million or $4.28 a share, in the same quarter of last year. Analysts’ consensus estimate was earnings of $5.27 a share on revenue of $1.28 billion, according to a data compiled by Thomson Reuters. For the second quarter, the travel planner expects earnings to be in the range of $8.87 to $9.45 a share while analysts’ most recent estimate is for $9.58 a share.

Shares of ArcelorMittal (ADR) (NYSE: MT) gained about 3.90% by afternoon trade. Although the world’s largest steelmaker  posted a net loss of $345 million for the first three months of 2013 as lackluster demand for steel continued to put pressure on steel prices, adjusted earnings declined less-than-feared. The Company also maintained its guidance of full-year profit.

Shares of the Gap Inc. (NYSE: GPS) climbed 5.30% by afternoon trade after the apparel retail chain provided better-than-expected fiscal first quarter guidance. The Company also reported robust same-store-sales and sales growth in April. Same-store-sales rose 2% while total sales climbed 7% in April, the Company said.

Molycorp Inc. (NYSE: MCP) skyrocketed about 30% by afternoon trade after the rare earth metal mining company reported narrower-than-anticipated non-GAAP loss in the fiscal first quarter while revenue also beat analysts’ consensus estimate. Excluding onetime items, adjusted loss stood at 15 cents a share compared to a loss of 18 cents a share, in the same quarter of last year. Revenue leaped 71% to $146.4 million. Analysts surveyed by Thomson Reuters most recently forecasted for a loss of 27 cents a share on revenue of $138 million.

Shares of Ubiquiti Networks Inc. (NASDAQ: UBNT) rallied about 18% by afternoon trade. Although the internet gear manufacturer late last evening reported that fiscal third quarter earnings plunged 26% due to higher operating expenses and drop in revenue, it provided optimistic guidance for the current quarter. The Company expects earnings to be in the range of 26 cents to 29 cents a share on revenue of $90 million to $96 million. Analysts polled by Thomson Reuters had most recently forecasted for earnings of 23 cents a share on revenue of $86 million. For the quarter ended March 31, Ubiquiti reported a profit of $20.7 million or 23 cents a share, compared to $27.9 million, in the same quarter of last year. Revenue contracted 9.3% to $83.2 million. Earlier in February the Company projected earnings of 19 to 23 cents on revenue of $76 to $84 million.  Gross margin fell to 42.6% from 43.3% while operating expenses soared 68%.



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