Stocks Erase Gains in Late Trading
Kohl's (KSS) projected full-year earnings of $4.15 a share to $4.45 a share, below the consensus target of $4.56 a share, after posting fourth-quarter profit of $1.66 a share on revenue of $6.342 billion. Analysts, on average, expected fourth-quarter profit of $1.63 a share on revenue of $6.24 billion. Shares shed 1.1%.
Wall Street expects software company Salesforce.com (CRM) to report quarterly earnings of 40 cents a share when it issues its results after the markets close Thursday. Shares were up 1.4% on Thursday.
Molycorp (MCP) shares dropped 1.6% after the company announced a delay in filing its 10-K report and its postponement of its fourth-quarter and full-year 2012 earnings call.
BroadSoft (BSFT) shares plunged 32.1% after the software provider gave current-quarter projections that were below estimates amid expectations of lower consumer applications revenue during the year.Babcock & Wilcox (BWC) shares jumped 2.2% after the power generation technology company swung to a fourth-quarter profit, helped by adjustments in pension plans and increased revenue at its power generation and nuclear operations divisions. CommonWealth REIT (CWH) shares fell 12.2% after it announced that its public offering of 30 million common shares was priced at $19 a share, a 16% discount to its closing price on Wednesday. -- Written by Andrea Tse and Joe Deaux in New York >To contact the writer of this article, click here: Andrea Tse
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