NEW YORK (TheStreet) -- Rare-earth products producer Molycorp (MCP)
reported third-quarter profit of 67 cents a share, missing the average analyst estimate of 70 cents a share. Shares were tumbling 6.9% to $36.04.
Apparel and home furnishing retail company Dillard's (DDS) reported third-quarter earnings of 48 cents a share, beating the average analyst estimate of 32 cents a share. Gross margin was flat compared with last year.
Shares were falling 4.6% to $52.61.
Dow component Walt Disney (DIS) topped Wall Street expectations for its fiscal fourth-quarter results, thanks to strong top-line growth in its media networks and parks and resorts divisions. The Burbank, Calif.-based company reported earnings of $1.09 billion, or 58 cents a share, for the three months ended Oct. 1 on revenue of $10.43 billion, up 7% year-over-year. Excluding charges related to restructuring and impairment, Disney earned 59 cents a share in the latest quarter. The average estimate of analysts polled by Thomson Reuters was for earnings of 54 cents a share in the latest quarter on revenue of $10.36 billion. Shares were gaining 4.5% to $36.20.
Nvidia (NVDA), the graphics chip maker, reported third-quarter earnings of $178.3 million, or 29 cents a share, on revenue of $1.07 billion, beating Wall Street's consensus earnings view by 3 cents. Shares were gaining 4.4% to $15.10.
E*Trade Financial (ETFC) has put an end to speculation that its strategic review would yield a company sale. Rejecting pressure from its largest shareholder Citadel to sell itself to an online broker competitor such as TD Ameritrade (AMTD) or Charles Schwab (SCHW), E*Trade chief executive and interim chairman Steven Freiberg said, "Following this review by our Board, the management team will continue to execute on our strategy designed to create value for both our stockholders and our customers." Shares were tumbling 4.2% to $9.08.
China Petroleum & Chemical (SNP) or Sinopec, has agreed to pay Portuguese oil company Galp Energia $3.54 billion for a 30% stake in its deep-sea oil asset in Brazil. China Petroleum & Chemical was adding 2.2% to $106.48.
Homebuilding company D.R. Horton (DHI) posted fourth-quarter earnings of 11 cents a share. Analysts, on average, were expecting earnings of 14 cents a share. Shares were falling 1% to $11.54.
Oil major Exxon (XOM) has made the controversial move of becoming the first major oil company to enter Kurdistan, a semi-autonomous region of Iraq, after signing exploration contracts with the Kurdistan Regional Government. Shares were edging up 0.9% to $79.39.
A Siberian court has rejected a pair of lawsuits involving claims of 496 billion rubles ($16 billion) against British oil giant BP (BP) by a minority shareholder in OAO TNK- BP Holding, Russia's third-biggest oil producer, Bloomberg reported. Shares were up 0.2% to $43.19
U.S solar company SunPower ( SPWRA) is laying off 85 employees, or 2% of its workforce, as it restructures during a difficult period for solar companies. -- Written by Andrea Tse in New York.
>To contact the writer of this article, click here: Andrea Tse.
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