NEW YORK -- AOL (AOL), the Internet media company, reported Wednesday first-quarter net income of $21.1 million, or 22 cents a share, up from year-earlier earnings of $4.7 million, or 4 cents.
Revenue fell 4% from a year earlier to $529.4 million.
Analysts, on average, were expecting earnings of 7 cents a share on revenue of $526.48 million.
Shares of AOL fell 1.09% in premarket trading Wednesday to $25.30.
Social media company Demand Media (DMD) reported Tuesday first-quarter adjusted earnings of $5.9 million, or 7 cents a share, on revenue of $82.9 million, topping analysts' estimates of 5 cents a share on revenue of $79.7 million. Shares of Demand Media rose 22.95% in premarket trading Wednesday to $9.75.
Dow component Cisco (CSCO) will report fiscal third-quarter earnings after the closing bell Wednesday, and analysts expect profit of 47 cents a share on revenue of $11.57 billion. Cisco, the world's largest maker of computer networking equipment, is expected to reveal Wednesday more evidence of its turnaround. Cisco shares ticked down 12 cents, or 0.64%, to $18.59 in premarket trading Wednesday. HP: Undervalued and Preparing for Apple Assault
Fellow Dow component Walt Disney (DIS) posted fiscal second-quarter revenue Tuesday of $9.63 billion, up 6% from last year and ahead of Wall Street's consensus view of $9.56 billion. Earnings excluding items at the media and entertainment giant came in at 58 cents a share, 3 cents ahead of analysts' estimates. "We're incredibly optimistic about our future, given the strength of our core brands, Disney, Pixar, Marvel, ESPN, and ABC, and our extraordinary ability to grow franchises across our businesses, such as The Avengers, which shattered domestic box office records with a $207.1 million opening weekend for a global performance of more than $702 million to date," said Robert Iger, the company's chairman and CEO. Shares of Disney rose 41 cents, or 0.93%, in premarket trading Wednesday to $44.71. 10 Stocks to 'Like' When Facebook Goes Public
GlaxoSmithKline (GSK) is going hostile with its $2.6 billion bid for biopharmaceutical firm Human Genome Sciences (HGSI). The offer is equivalent to about $13 a share. Shares of Human Genome Sciences ticked down 3 cents, or 0.21%, to $14.59 in premarket trading Wednesday. Glaxosmithkline shares dropped 2.77% in premarket trading to $45.28.
Retailer Macy's (M) is expected by analysts to post quarterly earnings of 40 cents a share on revenue of $6.15 billion. Macy's shares rose 1.24% in premarket trading Wednesday to $40.00. BlackBerry World Is One of Worry for Retailers
Priceline.com (PCLN), the online travel company, is expected to earn $3.95 a share in the first quarter on revenue of $1.04 billion, according to analysts. Priceline's report is expected after the markets close Wednesday. Shares of Priceline.com rose $4.30, or 0.6%, in premarket trading Wednesday to $720.50.
Green Mountain Coffee Roasters (GMCR) on Tuesday announced the replacement of its chairman, Robert Stiller, and lead director, William Davis, after the executives were forced to sell roughly 5.5 million Green Mountain shares because of margin calls. The company called the sales "inconsistent" with its internal trading policies. Shares of Green Mountain Coffee Roasters fell 2.65% to $25.68 in premarket trading Wednesday. -- Written by Joseph Woelfel and Alexandra Zendrian
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