NEW YORK -- Ciena (CIEN - Get Report), the networking equipment company, reported Thursday second-quarter adjusted net income of $3.7 million, or 4 cents a share, a reversal from a year-earlier loss of $22.4 million, or 24 cents a share.
Ciena posted second-quarter revenue of $477.6 million.
On average, analysts expected the company to post a fiscal second-quarter loss of 3 cents a share on revenue of $447 million.
Shares of Ciena rose 6.73% to $12.68 in premarket trading Thursday.
Joy Global (JOY - Get Report), the mining equipment maker, reported second-quarter net income of $213.6 million, or $2 a share, up from year-earlier earnings of $162 million, or $1.52 a share. Analysts anticipated the company would report earnings of $1.94 a share. "Aftermarket demand flows to shipments in two months, on average," CEO Mike Sutherlin said in a statement. "The current softness in the U.S. aftermarket orders is not expected to be completely offset by strength in the international markets, and therefore the aftermarket bookings rate is expected to adversely impact revenues by $100 million for 2012." Joy Global said its fiscal 2012 earnings are expected to be negatively impacted by 18 cents a share. Shares of Joy Global fell 1.78% to $58 in premarket trading Thursday. Facebook's Lessons in How Not to Play the Game
TiVo (TIVO - Get Report) on Wednesday posted weak first-quarter results and second-quarter guidance. The digital video recording company posted a loss of 17 cents a share on revenue of $67.8 million. Service and technology revenue came in at $54.5 million. Analysts were expecting a loss of 15 cents a share on $54.89 million in service and technology revenue. For its fiscal second-quarter, TiVo said it expects service and technology revenue to be between $53 million and $55 million and projects a net loss of $28 million to $30 million. Analysts expect revenue of $56.5 million and a loss of $27 million. 10 New Stocks on All-Star Fund Managers' List
US Airways (LCC) and private-equity firm TPG Capital may join forces to bid for AMR, the parent of American Airlines, Reuters reported, citing people familiar with the discussions.
Retailers, including Gap (GPS), Target (TGT) and TJX (TJX), will be reporting same-store sales for May on Thursday. First out of the gate was Costco (COST - Get Report), which said same-store sales in May rose 4%. Analysts were expecting sales to rise 4.3%. Shares of Costco ticked down 81 cents, or 0.94%, to $85 in premarket trading Thursday. Zumiez (ZUMZ - Get Report) saw the biggest increase in same-store sales in May, according to Thomson Reuters. The sports apparel retailer reported a sales increase of 13.7%; analysts expected a 6.6% rise. Limited Brands (LTD) had a consolidated same-store sales increase of 6%, beating analysts' estimates of a 4.7% gain. Limited Brands shares ticked up 7 cents, or 0.15%, to $45.91. Macy's (M) squeaked by analysts' May same-stores sales estimates with a 4.2% rise compared to the 4% estimate. Bank of America Shares Getting Housing Recovery Lift
-- Written by Joseph Woelfel
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