Shares of Yahoo! Inc. (NASDAQ: YHOO), a digital media company, are up sharply in early trading today. At last check, YHOO shares were trading 3.46% higher at $16.32 on volume of 2.78 million. The stock hit an intra-day high of $16.57 in early trading today.
YHOO shares are gaining after the company reported its third-quarter financial results. For the quarter ended September 30, 2012, YHOO reported revenue excluding traffic acquisition costs of $1.089 billion, up 2% over the same period in the previous year. The company’s GAAP revenue for the quarter was $1.20 billion, down 1% over the same period in the previous year.
Yahoo’s operating income on a non-GAAP basis was $177 million for the third quarter of 2012, up from $175 million reported for the same period in the previous year.
Shares of Monster Beverage Corp. (NASDAQ: MNST), a holding company engaged in the development, marketing, sale and distribution of alternative beverages, are down sharply in early trading today. At last check, MNST shares were trading 5.86% lower at $43.05 on volume of 425,620. The stock fell to an intra-day low of $42.56 in early trading today.
MNST shares are sinking following a rating downgrade from Goldman Sachs. Analysts at Goldman Sachs downgraded MNST from Conviction Buy to Buy rating. The downgrade comes on the back of news that the company’s energy drinks have been cited in five death reports submitted to regulators over the past year.
Shares of Coach Inc. (NYSE: COH), a marketer of fine accessories and gifts for women and men, are climbing in early trading today. At last check, COH shares were trading 3.80% higher at $56.23 on volume of 4.88 million. The stock hit an intra-day high of $58.52 in early trading today.
COH shares are gaining after the company reported its first-quarter financial results. For the quarter ended September 29, 2012, COH reported sales of $1.16 billion, compared to $1.05 billion reported for the same period in the previous year. Net income for the first quarter was $221 million, or $0.77 per share, compared to $215 million, or $0.73 per share reported for the same period in the previous year.
Lew Frankfort, Chairman and CEO of Coach, said that COH is pleased with its results in the first quarter, highlighted by double-digit top-line growth, with strong comparable stores sales, most notably in North America and China.
Shares of United Technologies Corporation (NYSE: UTX), a provider of high technology products and services to the building systems and aerospace industries worldwide, are marginally lower in early trading today. At last check, UTX shares were trading 0.39% lower at $77.53 on volume of 293,969. The stock fell to an intra-day low of $76.35.
UTX today reported its third-quarter financial results. For the third quarter of 2012, the Hartford, Connecticut-based company reported earnings per share of $1.37 and net income of $1.2 billion, representing a decline of 4% and 3%, respectively, over the same period in the previous year. UTX’s sales for the quarter were $15 billion, up 6% over the same period in the previous year.
Louis Chenevert, Chairman and CEO of United Technologies, said that the integration of Goodrich and IAE is off to a good start with solid underlying performance at both businesses. Chenevert further said that UTX expects just $0.10 of EPS dilution from the Goodrich acquisition in 2012, versus prior estimate of $0.20.
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