This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Friday's Winners & Losers: E*Trade

Apple (AAPL) continued to slide, down $4.49, or 3.3%, to $131.11 in recent trading.

The stock is now down 6.4 percent since the company announced sluggish iPod sales and a disappointing forecast for the current quarter earlier in the week.

For the current quarter, Apple is forecasting $6.8 billion in revenue and EPS of 94 cents. Analysts were expecting $6.98 billion in revenue and EPS of $1.09.

Juniper Networks (JNPR) was up 35 cents, or 1.33%, to $26.65.

The Sunnyvale, Calif., company posted strong sales of its networking equipment in the fourth quarter.

Sales were up 36 percent to $809 million from $595 million in the prior year. Net income was $504 million, or 87 cents a share, compared to $440 million, or 73 cents a share, in the year-ago quarter.

FirstFed Financial (FED) surrendered 9.1% to $35.44 even though the Santa Monica, Calif., bank came in above targets with income of $8.4 million, or 61 cents a share. As is the case with so many other banks these days, that represents a severe year-on-year decline -- some 75% -- as its loan-loss provision more than quadrupled sequentially to $21 million, in line with guidance issued earlier this month. Analysts had sought earnings of 59 cents a share, according to Thomson Financial.

E*Trade (ETFC), on the other hand, jumped 6% after the online broker predicted a "return to profitability" this year, with intentions to slice off $360 million in expenses and accumulating excess cash "approaching $1 billion" in its banking unit by the end of the year. In November, E*Trade announced a $2.5 billion capital infusion from a group led by Citadel Investment Group, a deal that included the sale of its wrecked $3 billion portfolio of asset-backed securities.

E*Trade's most recent results, as expected, were fairly miserable. Due to its foundering banking business, the firm's fourth-quarter loss came to $1.71 billion, or $3.98 a share -- even worse than Wall Street's rather pessimistic estimates for a $2.90 shortfall. That also reverses last year's profit of $176.7 million, or 40 cents a share. E*Trade's banking business is largely to blame, with asset losses and impairments reaching roughly $2.45 billion. It also recorded a loan-loss provision of $640 million for the year.

Shares of the New York-based company were recently up 21 cents at $3.69.

Greenville, S.C.'s ScanSource (SCSC), a wholesale distributor of specialty technology products, saw shares climb 19.2% to $30.63 on the conclusion of an Securities and Exchange Commission investigation, second-quarter earnings and an upgrade. The company announced Thursday after the close that the SEC had determined that no enforcement action was recommended regarding its historical stock option grant practices.

Canadian organic food concern SunOpta (STKL) fell 36.7% to $6.05 on frenzied volume. On Thursday evening, the company chopped its full-year 2007 EPS outlook to between 12 cents and 14 cents from a previous range of 35 cents to 40 cents. Wall Street is expecting EPS of 34 cents. SunOpta is investigating adjustments related to its Fruit Group berry operations, and may have to revise previous financial statements. Northland Securities piled on, downgrading the stock to market perform from outperform.

This article was written by a staff member of TheStreet.com.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,960.57 -123.23 -0.72%
S&P 500 1,978.34 -9.64 -0.48%
NASDAQ 4,449.5640 -22.5440 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs