Early Stocks in Motion
Sanmina-SCI (SANM) shares jumped after hours Thursday after the company said it earned $15.1 million, or 3 cents a share, for the fourth quarter ended Oct.1, up from $5.3 million, or a penny a share, a year ago. Excluding items, the company earned $31.3 million, or 6 cents a share, beating analysts' mean estimate by a penny. The electronics manufacturer reported revenue of $2.77 billion, down from $3.3 billion last year. Analysts expected revenue of $2.7 billion, according to Thomson First Call. "We are well positioned to capture our share of new business and we are poised to grow at the same rate as the industry," said Jure Sola, chairman and CEO of Sanmina-SCI, in a statement. The stock gained 44 cents, or 12%, to $4.10 in after-hours trading.
Starbucks (SBUX) reported a 7% increase in October same-store sales, while consolidated net sales for the month rose to $550 million from $455 million last year. Starbucks attributed the strong growth to its handcrafted espresso beverages. The stock was up 67 cents, or 2.3%, to $30.10 in after-hours trading.
Fluor's (FLR) third-quarter profit surged to $131.2 million, or $1.51 a share, from $47.3 million, or 57 cents a share, a year ago. The latest results include a $30 million contract settlement and $32.9 million gain from a court ruling. Revenue for the quarter rose 45% to $3.4 billion from $2.4 billion last year. Analysts expected the company to earn 80 cents a share on revenue of $3.1 billion, according to First Call. The stock rose $2.61, or 4%, to $67.83 in after-hours trading.
Expedia (EXPE) said it earned $82 million, or 23 cents a share, for the third quarter, up from $58.1 million, or 17 cents a share, a year ago. The online travel agent's revenue rose to $584.7 million from $504 million last year. Profit excluding some costs was $126.9 million, or 35 cents a share. Analysts expected to Expedia to earn 31 cents a share, before items, on sales of $572.3 million. The company said gross bookings increased 21% from the year-ago period, with domestic booking rising 16% and international bookings up 39%. The stock jumped $2.99, or 14.4%, to $23.70 in after-hours trading.
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