Guess, TiVo, Oracle: After-Hours Trading
NEW YORK (
) -- Shares of
Guess? Inc.
(GES) - Get Report
jumped in after-hours action on Tuesday after the Los Angeles-based apparel company topped Wall Street expectations with its third-quarter results, lifted its fiscal 2011 outlook, increased its quarterly dividend by 25%, and said it pay a special $2.00 per share cash dividend.
The company posted a profit of $69.1 million, or 75 cents a share, for the three months ended Oct. 30 on revenue of $613.9 million, up 17.4% year-over-year. That performance compared to the average estimate of analysts polled by
Thomson Reuters
for earnings of 59 cents a share on revenue of $580.4 million.
Guess? also forecast earnings of $1.02 to $1.06 a share on revenue ranging from $710 million to $730 million for the fourth quarter. The current consensus analyst view for the December period is for a profit of $1.02 a share on revenue of $694.6 million. The company's quarterly dividend is being boosted by 25% to 20 cents a share, and the special $2.00 dividend will be paid on Dec. 23 to shareholders of record on Dec. 8.
The stock was last quoted at $49.20, up 8.5%, according to
Nasdaq.com
, on volume of roughly 575,000. Based on a regular session close at $45.34, the shares were up 7.2% so far in 2010.
TiVo
TiVo
(TIVO) - Get Report
was down in late trades after the Alviso, Calif.-based digital video recording technology company
reported a wider than expected loss for its fiscal third quarter
as operating costs jumped.
The company said it lost $20.6 million, or 18 cents a share, for the three months ended on Oct. 31, a penny beyond Wall Street's consensus view. TiVo also forecast a loss of $32 million to $34 million for the fourth quarter, saying it expects to take a $10 million hit from its holiday hardware pricing. The shares were down 3% to $8.55 on volume of almost 85,000.
Oracle
News that
SAP
(SAP) - Get Report
has to pay $1.3 billion to
Oracle
(ORCL) - Get Report
to
settle a software theft dispute
sent shares of Oracle higher in late trades.
The shares were last quoted at $27.56, up 1.4%, on volume of around 700,000, according to
Nasdaq.com
, after a federal judge ordered SAP to pay the damages, which Oracle said was the largest amount awarded for software piracy.
"For more than three years, SAP stole thousands of copies of Oracle software and then resold that software and related services to Oracle's own customers," said Oracle President Safra Catz in a statement. "Right before the trial began, SAP admitted its guilt and liability; then the trial made it clear that SAP's most senior executives were aware of the illegal activity from the very beginning."
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Written by Michael Baron in New York.
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