Shares of American International Group Inc. (NYSE: AIG), climbed about 5.40% by afternoon trade after the insurer on Friday posted profit of $1.34 per share for the fiscal first quarter, comfortably beating analysts’ consensus estimate of 87 cents a share. Revenue however missed analysts’ expectation. Meanwhile, analysts at JP Morgan Chase reiterated “neutral” rating on the stock. Separately, Barclays Capital raised price target on the stock to $41 from $36, in research note released on Friday to clients. The firm has a “equal weight” rating on the stock.
Shares of Kraft Foods Group Inc. (NASDAQ: KRFT) jumped about 6.50% by afternoon trade after the food processing company on Thursday reported better-than-expected fiscal first quarter earnings. Revenue fell slightly short of consensus estimate though. For the recently concluded quarter, Kraft Foods reported earnings of 76 cents a share on revenue of $4.55 billion, beating analysts’ estimations for earnings of 64 cents a share on revenue of $4.48 billion. The Company also reiterated its full-year earnings guidance which is of $2.75 a share. Analysts’ consensus estimate was of $2.78 a share.
Shares of LinkedIn Corp. (NYSE: LNKD) plunged about 10% by afternoon trade. Although the professional networking site’s fiscal first quarter results topped Wall Street’s estimates, its guidance on the revenue for the current quarter and full-year disappointed investors. The Company, which has grown at a brisk pace ever since it went public two year ago, also said that earnings growth will slow down in coming period as it looks to expand by hiring more people and enhance its infrastructure.
Shares of Open Table Inc. (NASDAQ: OPEN) jumped about 4.4% by afternoon trade after the online restaurant reservations service provider reported better-than-expected fiscal first quarter results and provided upbeat guidance for fiscal 2013, late last evening. For the fiscal first quarter, the Company posted adjusted earnings of $10.7 million or 45 cents a share up from $9.2 million or 40 cents a share, in the year-earlier quarter. Net revenue rose to $45.50 million from $38.37 million, in the year-earlier quarter. Analysts were expecting earnings of 43 cents a share on revenue of $45.48 million. For the full-year fiscal, Open Table expects adjusted earnings to be in the range of $1.88 a share to $2.02 a share. revenue is anticipated in the range of $185.3 million to $190.9 million. Wall Street was expecting earnings of $1.91 a share on revenue of $189.55 million.
Shares of Automatic Data Processing (NASDAQ: ADP) gained about 2.50% by midday trade after the business solutions provider on Friday handed fiscal third quarter results which were in-line with analysts’ estimates. For the quarter ended March 31, ADP posted adjusted earnings of $482.7 million or 99 cents a share compared to $452.4 million or 92 cents a share, in the same quarter of last year. analysts’ consensus estimate was for earnings of 98 cents a share, according to a data compiled by FactSet. Revenue for the quarter rose 7% to $3.11 billion from $2.91 billion, which matched Street’s estimate.
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