Friday's Early Winners & Losers
Shares of Take-Two Interactive (TTWO) sank in late trading Thursday after the video-game publisher reported a wider-than-expected second-quarter loss amid rising product costs and a huge write-off.
For the quarter ended April 30, Take-Two posted a loss of $50.4 million, or 71 cents a share, widened from $8.2 million, or 12 cents a share, a year ago. The bottom line included a charge of 24 cents a share related to restructuring. Without that charge, the company still would have recorded a loss of about 47 cents a share. Analysts polled by Thomson First Call had predicted the company would post a loss of 11 cents a share before the charge. The wider loss came even as sales jumped 19% to $265.1 million, topping Wall Street's estimate of $258.8 million. Take-Two shares dropped $2.27, or 13%, to $14.50 in after-hours trading.
Shares of Quality Systems (QSII) surged after the health care information-systems company beat Wall Street's fourth-quarter earnings estimates. The company posted earnings of $7.6 million, or 28 cents a share, for the quarter ended March 31, topping analysts' average forecast of 23 cents. A year earlier, the company earned $4.8 million, or 18 cents a share. Revenue climbed 39% to $35.6 million, compared with Wall Street's target of $33.2 million. Shares jumped $3.15, or 10%, to $35.15 in late trading.
Quiksilver (ZQK) shares rose after the outdoor-sporting-goods company matched Wall Street's second-quarter earnings expectation. For the quarter ended April 30, the company reported earnings of $3.7 million, or 3 cents a share, down from $34.7 million, or 28 cents a share a year ago. The company's results included the Rossignol and Cleveland Gold businesses, which were acquired in July 2005. Rossignol's business is seasonal, and hurt the company's second-quarter results, Quiksilver said. Revenue increased to $516.9 million from $426.9 million. Wall Street was looking for earnings of 3 cents a share on revenue of $527.3 million.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV