Electronics manufacturing services provider Jabil Circuit (JBL) forecast first-quarter earnings of 62 cents to 70 cents a share on revenue of between $4.3 billion and $4.5 billion. The current consensus view is for profit of 61 cents a share on revenue of $4.41 billion in the quarter.
The company posted core earnings of $136.3 million, or 62 cents a share, on revenue of $4.28 billion for its fourth quarter, trouncing the average estimate of analysts polled by Thomson Reuters for a profit of 56 cents a share on revenue of $4.19 billion.
Shares were surging 9% to $18.95 in premarket trading Wednesday.
Progress Software (PRGS) said it sees non-GAAP earnings of 30 cents to 33 cents a share for the fourth quarter on revenue ranging from $130 million to $134 million. Analysts are looking for a profit of 42 cents a share in the quarter on revenue of $145.4 million. The Bedford, Mass.-based maker of infrastructure software reported third-quarter non-GAAP earnings that beat the average analysts' earnings per share view by 2 cents. Shares were tumbling 7.3% to $17.98.
Shares of Avago Technologies (AVGO) were tumbling 3.6% to $33.25 after the analog semiconductor devices provider announced the sale of 15 million Avago shares by certain shareholders to Citigroup and Deutsche Bank Securities, the underwriters in the public offering of those shares.
Payroll, human resource and benefits outsourcing solutions provider Paychex (PAYX) reported first-quarter earnings of 41 cents a share, beating the average analyst estimate of 38 cents a share. Shares were spiking 2.6% to $27.39 in premarket trading Wednesday.
Shares of apparel company Ralph Lauren (RL) were falling 1.9% to $145.94 after the stock was cut to hold from buy at Citigroup.
Independent oil and natural gas company SandRidge Energy (SD) agreed to sell certain East Texas natural gas properties to NFR Energy for $231 million. SandRidge plans to use the cash proceeds to fund a portion of its oil-focused drilling program. SandRidge expects the transaction to close in November. Shares were rising 1.7% to $6.60.
Darden Restaurants (DRI) posted first-quarter earnings of 78 cents a share, in line with analysts estimates. Shares were falling 1.2% to $46.40.
Family Dollar Stores (FDO) is predicting full-year earnings of between $3.50 and $3.75 a share vs. the average analyst estimate of $3.58 a share. The company forecasts earnings of 65 cents to 73 cents a share in the first quarter vs. the Wall Street consensus target of 66 cents a share. Family Dollar reported fourth-quarter sales of $2.13 billion, in line with estimates, while profit came in at 66 cents a share vs. the average analyst estimate of 63 cents. Gross profit as a percentage of sales came in at 34% from 34.7% mainly because of stronger sales of lower-margin consumables. Shares were down 1.2% to $53.52.
Google (GOOG) plans to build three of its own data centers in Europe with an investment of more than $200 million. The stock was rising 0.5% to $542.11. -- Written by Andrea Tse in New York.
>To contact the writer of this article, click here: Andrea Tse.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $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
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV