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NEW YORK (TheStreet) -- Apple (AAPL) CEO Steve Jobs has resigned, with Chief Operating Officer Tim Cook stepping up to take the reins of the tech giant.

Shares were falling 2.2% to $367.86 in premarket trading Thursday.

Digital video recorder maker



reported a second-quarter loss of 17 cents a share, narrower than the loss of 21 cents a share that analysts were forecasting.

Shares were surging 8.5% to $8.81.

Semiconductor capital equipment maker

Applied Materials


gave a

disappointing outlook

for the current quarter. The company expects non-GAAP earnings of 16 cents to 24 cents a share in its fourth quarter with sales seen declining between 5% to 30% on a sequential basis.

The current estimate of analysts polled by Thomson Reuters is for a profit of 30 cents a share in the period on revenue of $2.57 billion.

Shares were losing 5.6% to $10.73.

Applied Materials topped Wall Street expectations for the third quarter.

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TheStreet Recommends

Shares of

Renaissance Learning

( RLRN), the education software company, were rising 5% to $15.25 after receiving a takeover offer from

Plato Learning

worth about $454 million.

At $15.50 a share, the bid beats the $14.85 a share offer Renaissance previously agreed to with private-equity firm Permira Funds.

Drinks company



has reported full-year earnings of 83.6 pence ($1.37) a share vs. the average analyst estimate of 78.9 pence. Shares were gaining 4.6% to $77.08.

Krispy Kreme Doughnuts


is expected to report second-quarter profit of 6 cents a share after the markets close Thursday vs. last year's earnings of 3 cents a share.

Shares were rising 2.8% to $8.10.

Internet search giant



has agreed to pay $500 million in fines for carrying Canadian pharmacy advertisements that resulted in the illegal import of prescription drugs into the U.S.

Shares were up 0.7% to $527.

Oil services company



plans to hire 11,000 workers in North America this year.

Shares were trading sideways at $40.61.

Hormel Foods


raised its full-year earnings guidance to $1.70 to $1.75 a share from its previous projection of earnings of $1.67 to $1.73 and reported third-quarter earnings that topped expectations.

The company reported profit of 36 cents a share in the quarter vs. the average analyst estimate of 35 cents a share.


Big Lots


said second-quarter profit


8% as same-store sales fell 1.5%. Big Lots earned $35.7 million, or 50 cents a share, compared with year-earlier earnings of $38.9 million, or 48 cents a share. Excluding the impact of its new Canadian operations, Big Lots said non-GAAP income from continuing operations was $36.9 million, or $52 cents a share.

Analysts were expecting earnings of 44 cents a share.

-- Written by Andrea Tse in New York.

>To contact the writer of this article, click here:

Andrea Tse


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