Stocks to Watch: Gilead, Heinz (Update 1)
NEW YORK (
) -- A
of
Gilead Sciences'
(GILD) - Get Report
experimental GS-7977 plus ribavirin failed to suppress the hepatitis C virus in a group of difficult-to-treat patients who had also failed prior therapy, the company said Friday.
In premarket trading, Gilead shares fell 20.8% to $43.39.
Ketchup maker
H.J. Heinz
(HNZ)
earned $284.7 million, or 88 cents a share, in its fiscal third quarter, up from $273.8 million, or 84 cents a share, a year earlier.
Sales rose to $2.92 billion from $2.72 billion a year earlier.
Excluding items, earnings were 95 cents a share.
Analysts expected Heinz to post fiscal third-quarter earnings of 85 cents a share on revenue of $2.89 billion.
Heinz said it was narrowing its fiscal 2012 earnings outlook to the middle of its original range at $3.32 to $3.34 a share on a reported basis, excluding charges for productivity initiatives. Included in the outlook is an expected benefit from foreign exchange of about 5 cents a share.
Heinz shares rose 2.2% to $53.25 in premarket trading.
Campbell Soup
(CPB) - Get Report
earned 64 cents a share in its fiscal second quarter as sales fell 1% $2.11 billion.
The soup maker was expected by analysts to earn 62 cents a share on sales of $2.12 billion.
Campbell Soup reiterated its 2012 guidance, saying adjusted profit would come in at $2.35 to $2.42 a share, a decline of between 5% and 7% from 2011's adjusted base of $2.54. It said it sees net sales growth of 0% to 2%.
Applied Materials
(AMAT) - Get Report
, the maker of semiconductor capital equipment, topped analysts' earnings expectations in its fiscal first quarter and provided a second-quarter outlook above consensus estimates.
Applied Materials reported adjusted earnings of $240 million, or 18 cents a share, on sales of $2.19 billion, above the estimate of analysts for a profit of 12 cents a share on revenue of $1.97 billion.
"Global demand for mobile devices is driving a third consecutive year of strong capital investment by semiconductor customers," said Mike Splinter, chairman and CEO. "As a result, we see solid order momentum and an improved outlook overall for our second quarter."
Applied Materials forecast non-GAAP earnings of 20 cents to 28 cents a share in its fiscal second quarter ending in April. Analysts forecast earnings of 15 cents a share.
Applied Materials shares rose 5.4% in premarket trading to $13.92.
Baidu
(BIDU) - Get Report
, the China-based Internet search provider
topped Wall Street's fourth-quarter earnings expectations
.
But the company forecast first-quarter revenue of between $666.5 million to $688 million, a sequential decline from fourth-quarter sales of $710.9 million.
The stock fell 35 cents to $141.48 in premarket trading.
Investor Carl Icahn said Thursday he will try to buy all of the outstanding shares of
CVR Energy
(CVI) - Get Report
, the refining and nitrogen fertilizer company, through a tender offer of $30 a share, or about $2.6 billion.
CVR shares closed Thursday at $29.20. In premarket trading Friday, the stock rose 2.6% to $29.95.
-- Written by Joseph Woelfel
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Joseph Woelfel
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