Wednesday's Winners & Losers: Intel
Shares of
Intel
(INTC) - Get Report
were up $1.22, or 5.8%, to $22.13 following the company's first-quarter earnings report and upbeat earnings outlook. Intel
of $1.4 billion, or 25 cents a share, vs. $1.63 billion, or 28 cents a share, a year ago. Analysts were looking for EPS of 25 cents. Revenue for the quarter was $9.67 billion slightly above analysts' expectations of $9.63 billion.
Intel said gross margin in the current quarter is expected to be 56%, plus or minus a couple of points, and stayed firm on its previous guidance of 57% margins for the full year. Sales in the current quarter will range from $9 billion to $9.6 billion, the company said, and will be in-line with Street consensus of $9.25 billion in revenue.
JPMorgan Chase
(JPM) - Get Report
beat analysts' expectations despite a 50% drop in quarterly profits.
The nation's third-biggest bank reported $2.6 billion of writedowns tied to its loan portfolio, but managed to turn in 68 cents a share, besting the consensus forecast of 64 cents a share. JPMorgan, which is in the process of acquiring battered
Bear Stearns
( BSC), closed up 46.3% to $44.79.
Pozen Pharmaceuticals
(POZN)
and
GlaxoSmithKline
(GSK) - Get Report
said after late Tuesday that that the Food and Drug Administration
approved their migraine drug Treximet
. Pozen shares rose 25% to $13.13, and Glaxo's shares edged up 0.9% to $42.62.
Nokia
(NOK) - Get Report
gained $1.59, or 5%, to $33.69 as the company gets ready to post its first-quarter results Thursday before the opening bell. Analysts
expect the company
to report a profit of 57 cents a share on revenue of $19.84 billion.
Southwest bank
BOK Financial
(BOKF) - Get Report
climbed 11.6% to $57.34 after
Suntrust
upgraded the stock to buy from neutral with a $58 price target. Suntrust also raised estimates citing a highly disciplined management and that the bank will continue to grow in a difficult environment.
CV Therapuetics
( CVTX) was on the rise Wednesday. The company said Tuesday post close that TPG-Axon Capital will pay it up to $185 million -- $175 million upfront and $10 million in milestones -- in exchange for rights to 50% of CV's royalty on North American sales of Lexiscan injection, a stress agent drug. Shares rose $1.31, or 17.6%, to $8.76.
Badger Meter
(BMI) - Get Report
, a Milwaukee company that manufactures and markets products using flow measurement and control technologies, rose 19.1% to $49.64 on first-quarter earnings. Badger posted earnings of $6 million, or 41 cents a share, vs. $2.6 million, or 18 cents a share, a year ago. Analysts polled by Thomson Financial were expecting 33 cents a share.
Talbots
(TLB)
shares plummeted 28% to $9.25 on news that the women's retailer was losing lines of credit from HSBC and Bank of America. DA Davidson downgraded the stock to underperform from neutral.
This article was written by a staff member of TheStreet.com.
