Shares of First Cash Financial Services Inc. (NASDAQ: FCFS) slumped about 10.70% by afternoon trade. The pawn store operator, late last evening, handed downbeat earnings outlook for the fiscal second quarter and downwardly revised full year revenue guidance. For the fiscal second quarter, First Cash Financial Services Inc expects earnings to be in the range of 56 cents to 59 cents a share while analyst’ consensus estimate was for 60 cents a share. For the full-year fiscal, the Company expects revenue in the range of $275 million to $290 million down from earlier projection of $310 million to $324 million. Analysts’ forecast was for $310 million.
Shares of Apollo Group Inc. (NASDAQ: APOL) plunged about 9.80% by afternoon trade. Falling enrollments in the backdrop of stricter federal regulation is weighing heavily on for-profit education service provider’s top line. Apollo said on Tuesday that fiscal third quarter profit plunged 40% as enrollments dropped 17% to 287,500 students while sign ups by new students fell almost 25% to 38,900. For the quarter ended May 31, Apollo Group, which owns Phoenix University, posted net income of $80 million or 71 cents a share compared to a profit of $134 million or $1.13 a share, in the same period of last year. Excluding onetime items such as restructuring expense, non-GAAP or adjusted earnings fell to $1.05 from $1.18 a share. Revenue fell 16% to $946.8 million from $1.12 billion. Analysts had forecasted earnings of 86 cents a share on revenue of $964.6 million.
Shares of Smith & Wesson Holding Corporation (NASDAQ: SWHC) fell about 3.20% by afternoon trade despite of strong quarterly results and upbeat guidance for the new fiscal year. for the fiscal fourth quarter, the gun maker posted net income of $25.2 million or 38 cents a share on revenue of $178.7 million, a 38% growth YOY. Analysts had forecasted revenue of $171 million. For the new fiscal year, Smith & Wesson expects earnings from continuing operations to between $1.30 and $1.35 a share on sales of $605 million to $615 million. Analysts’ consensus forecast was for earnings of $1.18 a share on sales of $590 million.
Shares of of Synaptics Incorporated (NASDAQ: SYNA) rallied about 10.40% by afternoon trade. The touchscreen technology provider late last evening lifted its revenue outlook for the fiscal fourth quarter. The Company now anticipates revenue to come in the range of $227 million to $230 million up from its earlier projection of $190 million to $205 million. Analysts’ consensus forecast was for revenue of $198.15 million.
Shares of Adobe Systems Incorporated (NASDAQ: ADBE) climbed about 2.90% after analyst at Jefferies upgraded the software maker to “buy” from “hold”. Adobe’s “Creative Cloud” subscription model instead of selling packaged software is yielding strong results.
Shares of Pandora Media Inc. (NYSE: P) jumped about 6.40% by afternoon trade. Cowen and Company upgraded the internet radio company to “outperform” from “market-perform”, citing company’s increasing potential to boost its ad revenue. Cowen and Co also said that threat arising from Apple’s radio service should be manageable for Pandora.
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