DOW JONES NEWSWIRES
Below is a synopsis of major quarterly releases from Thursday
evening:
CBS Profit Slumps 96% On Items, Ad Woes
CBS Corp.'s (CBS) second-quarter profit sank 96% on lower ad
sales and a one-time gain, but the media giant cited early signs of
a recovery. Shares climbed 8.3% to $8.65 in after-hours trading as
earnings excluding the items edged expectations.
Beazer Homes Posts Smaller Loss, Sees Higher Demand
Beazer Homes USA Inc.'s (BZH) fiscal third-quarter loss narrowed
sharply as the home builder reported reduced write-downs and a
debt-extinguishment gain. But the company is seeing increased
demand, with its backlog jumping nearly 50% during the quarter, as
low interest rates and falling prices combine with tax credits to
entice potential buyers. Its stock climbed 7.9% in late trading to
$3.57.
Leap Wireless Matches MetroPCS With Weak Results
Leap Wireless International Inc.'s (LEAP) second-quarter loss
widened on a credit-line repayment and expenses associated with the
issuance of notes, which mitigated higher revenue and improved
operating profit. Shares slumped 19% to $18.40 after falling 6.5%
during regular trading as rival MetroPCS Communications Inc. (PCS)
also disappointed with its quarterly results.
Hansen Natural Profit Up 14%; Shares Gain
Hansen Natural Corp.'s (HANS) profit grew 14% as the all-natural
soda and juice maker reported higher sales led by its Monster
Energy drink and improved margins. The stock jumped 9.2%
after-hours to $33.50.
Crocs Soars As Results, Forecast Top Expectations
Crocs Inc. (CROX) swung to a loss on write-downs and a modest
drop in sales, though results still easily topped the footwear
company's own estimates. Shares soared 32% to $5.64 in late trading
as the company also issued a bullish third-quarter view. The stock
has more than tripled so far this year through Thursday's
close.
Assured Guaranty Posts Loss On Derivatives
Assured Guaranty Ltd. (AGO) swung to a loss as the insurer
posted an unrealized loss on credit derivatives, resulting
primarily from the narrowing of the company's own credit spread,
and absorbed costs for the Financial Securities Assurance Holdings
acquisition. Its stock fell 2.5% in late trading to $16.68.
Chiquita Earnings Surge 46%, Smashing Estimates
Chiquita Brands International Inc. (CQB) earnings rose 46% as
the food company's cost-cutting efforts offset a small drop in
revenue. Shares soared 17% to $15 after-hours as results easily
topped Wall Street estimates. The stock through the close was down
14% in 2009.
VeriSign Back In Black; Operations Improve
VeriSign Inc. (VRSN) reversed a year-earlier loss caused by big
restructuring charges while operating results were much stronger as
it repositions itself. In after-hours trading, shares were down
3.2% at $19.90 as earnings fell just short of analysts'
expectations.
Nvidia 2Q Results Top Views, Upbeat On Current Quarter
Nvidia Corp.'s (NVDA) fiscal second-quarter loss - its fourth in
the past five quarters - narrowed on smaller charges, and the
graphics-chip maker said its business is recovering. Its stock
added 4.8% to $13.60 in late trading as the results topped
expectations and the company forecast revenue this quarter would
top analysts' estimates.