For the three months ended Dec. 31, First Solar posted an adjusted profit of $110 million, or $1.26 a share, on net sales of $660 million, down more than 30% on a sequential basis.
Analysts were expecting earnings of $1.53 a share on sales of $779.3 million.
First Solar reduced its fiscal 2012 revenue view to between $3.5 billion and $3.8 billion from a prior projection of $3.7 billion to $4 billion.Shares were dropping 7.5% to $33.68 in premarket trading on Wednesday.
Staples (SPLS - Get Report), the office-products retailer, reported fourth-quarter net income of $283.6 million, or 41 cents a share, on sales of $6.46 billion. Staples was expected by analysts to earn 41 cents a share in the fourth quarter on revenue of $6.45 billion. Shares were popping 3% at $16.48.
Costco (COST - Get Report), the warehouse retailer, earned $394 million, or 90 cents a share, in its fiscal second quarter, up from $348 million, or 79 cents, a year earlier. Total revenue jumped 10% to $23 billion. Analysts expected Costco to earn 87 cents a share on revenue of $22.83 billion. Shares were rising 1.3% to $86.40.
Wells Fargo (WFC - Get Report) and Goldman Sachs (GS) said they received Wells notices from the Securities and Exchange Commission and could face civil claims tied to sales of mortgage-backed securities. According to reports, JPMorgan Chase (JPM) is expected to announce Wednesday that it too received a Wells notice. The notices generally indicate the SEC plans to bring charges or take other enforcement action against a company. Shares of Goldman Sachs were sliding 1.2% to $115.70, while JPMorgan shares were up 0.5% to $39.40.
Joy Global (JOY), the mining equipment maker, reported first-quarter income from continuing operations of $142 million, or $1.33 a share on net sales of $1.1 billion. Analysts expected earnings of $1.33 a share on sales of $1.16 billion. Shares were down 0.8% at $91.