Shoe Carnival, Discover: After-Hours Trading (Update 1)
Shares of Discover Financial Services (DFS) ticked lower in the extended session despite the credit card company blowing past analyst expectations for its fiscal first quarter.
The Riverwoods, Ill.-based company reported net income of $631 million, or $1.18 a share, for the three months ended in February, ahead of the average estimate of analysts polled by Thomson Reuters for a profit of 94 cents a share. Revenue came in at $1.84 billion, slightly above the consensus view of $1.82 billion.
The stock was last quoted at $31.40, down less than 1%, on volume of 440,000, according to Nasdaq.com. At current levels, the shares are up more than 30% in 2012. Discover said card sales volume rose 7% year-over-year to $25.6 billion in the quarter, and that the delinquency rate for credit card loans over 30 days past due came in at 2.22%, "an improvement of 137 basis points from the prior year, and 17 basis points from the prior quarter." Check out TheStreet's quote page for Discover Financial for year-to-date share performance, analyst ratings, earnings estimates and much more. Other companies making news after the bell included Diamond Foods (DMND), whose stock was off 1.3% to $25.32 on volume of more than 360,000 after the troubled snacks company inked a deal to amend its credit agreement that calls for it to suspend dividend payments; Sonic Corp. (SONC), whose shares fell 5.2% to $7.63 on volume of more than 20,000 after the drive-in restaurant operator missed on the top line with its fiscal second-quarter results, reporting revenue of $115.1 million, below Wall Street's consensus view of $116.8 million; and Sturm, Ruger & Co. (RGR), whose stock advanced 11.1% to $46.98 on volume of nearly 20,000 after the gun maker said it's received orders for more than one million units in the first quarter. --Written by Michael Baron in New York.>To contact the writer of this article, click here: Michael Baron.
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