Los Angeles clothing company Joe's Jeans (JOEZ - Get Report) posted a 5% year-over-year decline in sales in its fiscal third quarter. The company said it swung to a third-quarter loss of $2 million, or 3 cents a share, from a profit of $558,000, or a penny per share, in the same period a year earlier. Shares were falling 10.1% to 62 cents.
Aluminum producer Alcoa (AA - Get Report) fell short of Wall Street's profit view, despite better-than-expected revenue, sending shares lower in premarket trading. The company reported earnings from continuing operations of $172 million, or 15 cents a share, for its third quarter on revenue of $6.42 billion. The average estimate of analysts polled by Thomson Reuters was for a profit of 22 cents a share on revenue of $6.24 billion in the period. Klaus Kleinfeld, the company's chairman and CEO, backed Alcoa's outlook for growth of 12% in aluminum demand for 2011, saying the company sees a "slower pace in the second half of the year, and reaffirm(s) our long-term forecast for a doubling of aluminum demand by 2020." Shares were tumbling 3.8% to $9.91.
Food and beverage giant PepsiCo (PEP - Get Report) reported third-quarter core profit of $1.31 a share, beating the average analyst estimate of $1.30 a share. For 2011, the company is targeting high-single-digit earnings per share growth and anticipates share repurchases of about $2.5 billion in 2011. Shares were rising 1.6% to $61.92.
Telecommunications firm NeuStar (NSR - Get Report) said it will buy caller ID company TARGUSinfo for about $650 million in cash. NeuStar also lifted its full-year earnings guidance to $1.76 and $1.84 a share on revenue of $595 million to $600 million from its previous outlook of earnings of $1.68 to $1.76 a share on revenue of $585 million to $600 million. Shares were rising 1.6% to $28.50.
Hewlett-Packard (HPQ - Get Report) is reconsidering the spinoff of its personal-computer division, the Wall Street Journal reported. Shares were up 0.9% to $26.15.
BlackBerry users around the world have been cut off from texting for a third straight day. Research In Motion (RIMM) said Tuesday that its services returned to normal after a failure within its own infrastructure was discovered. But later it acknowledged that disruptions were continuing. The stock was down 0.6% to $24.26.
Chevron (CVX - Get Report) said in its interim update that earnings for the third quarter are expected to be in line with that of the second quarter, as a one-time refinery sale helps buttress results during a period of declining crude oil prices. Shares were up 0.3% to $97.90.
Healthcare Services (HCSG - Get Report), the provider of housekeeping and laundry services to the healthcare industry, increased its dividend to 16 cents a share, the 33rd consecutive increase since the company initiated regular dividend payouts in 2003.
Private-equity firm Bain Capital is in final talks to buy Japanese restaurant-chain operator Skylark from Nomura (NMR - Get Report) for up to $3.4 billion, including debt, the Wall Street Journal reported. -- Written by Andrea Tse in New York. >To contact the writer of this article, click here: Andrea Tse.