Shares of Plexus Corp. (NASDAQ: PLXS) rallied 7.77% by afternoon trade. The contract electronic manufacturer, late last evening, handed better-than-expected revenue for the fiscal third quarter, aided by strong performance of its healthcare business. The company also provided upbeat revenue outlook for the current quarter.
Revenue from the company’s healthcare segment, which manufacturers X-Ray machines and other instruments, climbed 12% to $142 million. For the fiscal third quarter, the company reported net income of $23.2 million or 68 cents a share down from a profit of $23.5 million or 66 cents a share, in the same quarter of last year. For the current quarter, Plexus expects earnings of 60-66 cents a share on revenue of $545 million to $575 million. Analysts polled by Thomson Reuters had expected earnings of 57 cents a share on revenue of $555.8 million.
Shares of Select Comfort Corp. (NASDAQ: SCSS) tumbled about 9.30% by afternoon trade. On Wednesday after the closing bell, the mattress maker said that its fiscal second quarter profit plunged 42% as the bottom line was weighed by higher operating costs and shrinkage in gross margin. In addition, earnings and revenue also missed Wall Street’s expectations. The Minneapolis Minnesota based company reported a net income of $9.93 million or 18 cents a share compared to a profit of $16.97 million or 30 cents a share, in the year-earlier quarter. Net sales edged up 1% to $207.39 million from $205.22 million, in the same quarter of last fiscal year. Analysts surveyed by Thomson Reuters had forecasted earnings of 24 cents a share on sales of $210.77 million. Company’s controlled same-store-sales, a key metric on retail chain’s performance, plunged 6%.
Shares of Xilinx Inc. (NASDAQ: XLNX) climbed about 4.20% by afternoon trade. The specialty chipmaker said on reported on Wednesday that fiscal first quarter profit rose 21% as the demand for its products was robust from wide ranging industries such as defense, telecommunication and aerospace. Non-GAAP earnings as well as revenue also topped analysts’ expectations. Xilinx also provided upbeat outlook for the fiscal second quarter. The Company expects revenue in the range of $579 million to $596.3 million while analysts’ most recent forecast was for $562.8 million.
Shares of eBay Inc. (NASDAQ: EBAY) fell about 6.50% by afternoon trade. The online auction services provider posted earnings of 63 cents share for the most recent concluded quarter, which matched Street’s expectation but revenue of fell slightly short of analysts’ forecast. Besides, the company’s outlook on current quarter’s earnings and revenue also fell short of expectations. The Company cited higher costs and slowing growth in PayPal business.
Shares of UnitedHealth Group Inc. (NYSE: UNH) jumped about 6.25% by afternoon trade. The manage-care company said on Thursday that profit rose 7.4% in the fiscal second quarter, driven by higher membership. Although revenue missed estimate, earnings comfortably beat expectation. The company also raised its lower end of the full-year earnings guidance by 10 cents. The Company now anticipates earnings to come in the range of $5.35 to $5.50 a share. UnitedHealth Group also reiterated its full year revenue outlook.
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