Early Stocks in Motion
Qualcomm (QCOM) after the bell Wednesday reported net income of $538 million, or 32 cents a share, for the fourth quarter ended Sept. 25, up from $393 million, or 23 cents a share, a year ago. Excluding certain items, Qualcomm earned $543 million, or 32 cents a share, a penny short of analysts' mean estimate. Revenue rose to $1.56 billion from $1.12 billion last year. Analysts predicted revenue of $1.54 billion, according to Thomson First Call.
For the fiscal first quarter, the wireless technology company expects to earn 36 cents to 38 cents a share on revenue of $1.67 billion to $1.77 billion. Wall Street's forecast calls for earnings of 35 cents a share and revenue of $1.66 billion. The stock was up 62 cents, or 1.5%, to $41.
Priceline.com (PCLN) said it earned $170.6 million, or $3.71 a share, for the third quarter, up from $9.3 million, or 23 cents a share, a year ago. The latest results included a $160 million net noncash tax benefit. Excluding items, the travel services company earned $19.3 million, or 47 cents a share. Priceline's revenue rose 9.7% to $258.8 million from $235.9 million last year. The results easily beat analysts' expectations for earnings of 37 cents a share and revenue of $242.9 million.
Looking ahead, the company anticipates fourth-quarter earnings of 24 cents to 28 cents a share and full-year earnings of $1.33 to $1.37 a share. The forecasts exclude any one-time items. Wall Street projected earnings of 28 cents a share for the fourth quarter and $1.26 for the year. Shares of Priceline surged $2.98, or 15.3%, to $22.48 in after-hours trading.Symbol Technologies (SBL) reported third-quarter net income of $16.7 million, or 7 cents a share, down slightly from $17.8 million, or 7 cents a share, a year earlier. The bar-code technology company said revenue for the quarter increased to $432 million from $429.2 million last year. The results beat analysts' forecasts for a profit of 3 cents a share and sales of $429.3 million.
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