Shares of Mattress Firm Holding Corp. (NASDAQ: MFRM) jumped about 6.90% by afternoon trade. The bedding company, late last evening, said that fiscal first quarter profit rose, driven by a solid revenue growth and handed better-than-expected earnings as well as revenue. Mattress Firm also reaffirmed its full-year earnings and revenue outlook.
Excluding onetime items, the Houston Texas based Company reported adjusted earnings of 38 cents a share up from 31 cents a share, in the same quarter of last year. Analysts surveyed by Thomson Reuters were expecting earnings of 36 cents a share. Total sales jumped 31.5% to $276 million in the recently concluded quarter from $209.8 million, in the same quarter of last year. Addition of new and acquired stores helped driving up the revenue. Analysts were expecting sales of $274.39 million.
Shares of Cyberonics Inc. (NASDAQ: CYBX) gained about 3.65% by afternoon trade. The medical device manufacturer said on Wednesday that fiscal fourth quarter income rose 8.1% as the demand improved. Both earnings and revenue edged past analysts’ expectations. For the new fiscal year, the Boulevard Houston based Company expects earnings to be in the range of $1.93 to $2.01, on assumption that sales will be between $279 million and $283 million. Wall Street’s forecast was for earnings of $1.91 a share on sales of $277 million.
Shares of RPC Inc. (NYSE: RES) gained about 3.91% by afternoon trade. The Atlanta GA based oilfields services and equipments provider said on Wednesday that the Board of Directors approved to expand its shares buyback program by another 5.0 million shares.
Shares of Ambarella Inc. (NASDAQ: AMBA) climbed about 2.60% by afternoon trade. The video processing chipmaker, late on Tuesday said that fiscal first quarter profit jumped 82%, aided by strong sales growth for its internet protocol and wearable sports cameras. The Company not only handed better-than-expected earnings and revenue but also provided optimistic guidance for the fiscal second quarter. For the current quarter, the Santa Clara based company revenue of $34.5 million to $37.5 million. Analysts’ consensus estimate was for revenue of $34.7 million, according to a data compiled by Thomson Reuters.
For the recently concluded quarter, the Company posted a profit of $4.7 million or 16 cents a share up from net income of $2.6 million or 7 cents a share, in the same quarter of last year. Excluding onetime items, adjusted earnings stood at 21 cents up from 11 cents a share, in the same quarter of last year. Revenue jumped 31% to $33.9 million. Analysts surveyed by Thomson Reuters were expecting earnings of 15 cents a share on revenue of $31.9 million.
Shares of Juniper Networks Inc. (NYSE: JNPR) leaped about 4.50% by afternoon trade, driven by upbeat remarks from the Company’s Chief Executive, Kevin Johnson, who said that the demand from its crucial telecom customer base appeared stronger now compared to past years.
Shares of Bed Bath & Beyond Inc. (NASDAQ: BBBY) edged up about 2% by afternoon trade after analysts at Nomura upgraded shares to “Buy” from “Neutral”.
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