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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

SanDisk, Netflix: After-Hours Trading

NEW YORK (TheStreet) -- Shares of SanDisk (SNDK) fell in late trades on Wednesday despite an above-consensus fourth-quarter profit from the flash memory maker.

The company reported a non-GAAP profit of $317 million, or $1.29 a share, for the three months ended Dec. 31 on revenue of $1.58 billion, beating the average estimate of analysts polled by Thomson Reuters for earnings of $1.26 a share on revenue of $1.57 billion.



"We are pleased to deliver record quarterly and annual revenues with robust profitability," said Sanjay Mehrotra, the company's president and CEO, in a statement. "The secular demand trends for NAND flash remain vibrant and we are particularly excited about the new growth opportunities for our business in the Enterprise and Client Computing markets."

The stock was last quoted at $47.33, down 9.6%, on volume of nearly 650,000, according to Nasdaq.com. Based on Wednesday's regular-session close at $52.34, the shares are up 4% so far this year and 2.4% over the past year, hitting a 52-week high of $53.46 on Oct. 28.

Wall Street may be disappointed with slightness of SanDisk's beat as the company had delivered upside surprises of 12% and 14% in the two preceding quarter. In addition, SanDisk showed a year-over-year decline in gross profit as a percentage of revenue with the latest quarter coming in at 43.9% from 47.2% last year on a non-GAAP basis.

According to Thomson Reuters data, gross margins came in at 42.88% for the fourth quarter, down from 44.27% in the third quarter.

Check out TheStreet's quote page for SanDisk for year-to-date share performance, analyst ratings, earnings estimates and much more.

Netflix

Shares of Netflix (NFLX) surged in the extended session after the DVD-by-mail and online streaming entertainment content subscription company handily beat Wall Street's consensus profit view.

The stock was last quoted at $108.15, up nearly 14%, on late volume of 3.6 million after Netflix said it earned 73 cents a share in its fiscal fourth quarter, topping the average analysts' view of 55 cents a share by more than 30%.

After a dismal 2011 where the shares lost more than half their value amid management miscues, competitive concerns, and rising content acquisition costs, Netflix has come back with a vengeance so far in 2012. The stock has been the biggest percentage gainer in the S&P 500, rising 33.7% through Wednesday's close at $95.04.

Stock quotes in this article: SNDK, NFLX, RJET, TSRX, ETFC 

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.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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