NEW YORK (
) -- Shares of
rose in extended trades on Tuesday after the electronic payment technology company topped Wall Street's expectations for its fiscal first-quarter results.
Getting a lift from growth in mobile payments, San Jose, Calif.-based Verifone reported an adjusted profit of $39.5 million, or 43 cents a share, for the three months ended Jan. 31 on revenue of $283.8 million, beating the average estimate of analysts polled by
for earnings of 39 cents a share in the January period on revenue of $270.1 million.
The stock was last quoted at $46.20, up 3.6%, on volume of nearly 260,000, according to
. Based on a regular session close at $44.61, the shares had already gained almost 18% since the start of 2011 and has soared more than 130% in the past year, hitting a 52-week high of $49.91 on Feb. 17.
"VeriFone posted a remarkable first quarter with record revenue, accelerating growth rates, and expanding margins," said Douglas Bergeron, the company's CEO, in a press release. "Every region grew by a double digit percentage, and our transformational service initiatives made significant advances in the quarter."
For the second quarter ending in April, Verifone sees adjusted earnings of 42 to 43 cents a share on revenue of $280 million to $284 million vs. the average analysts' view for a profit of 40 cents a share on revenue of $276.1 million. For fiscal 2011, the company expects adjusted earnings of $1.75 to $1.80 a share on revenue of $1.15 billion to $1.16 billion. The current consensus estimate is for earnings of $1.70 a share for the year ending in October on revenue of $1.14 billion.
Wall Street was mildly bullish about the stock ahead of the report with a single analyst at buy, two at strong buy and five at hold and a 12-month median price target of $43. At current levels, the forward price-to-earnings multiple on the stock sites at 22X vs. a forward multiple of 13.4X for the S&P 500.
was weighing on shares of
after the closing bell.
In a statement after the closing bell, the Chanhassen, Minn.-based data center operator said it's selling 2.2 million common shares while a selling shareholder is offering up an additional 800,000 shares.
The stock was last quoted at $5.89, down 10.5%, on volume of roughly 15,000, according to
. Although Datalink's shares have risen nearly 60% in the past year, they've seen a marked pullback since hitting a 52-week high of $9.05 on Feb. 7.
fell in extended trades after the bond insurer reported its fourth-quarter results.
The company said its adjusted pre-tax loss totaled $311 million for the three months ended Dec. 31 and its adjusted book value declined to $36.81 per share in the latest quarter from $37.22 per share at the end of September.
Net income available to common shareholders came in at $451 million, or $2.24 a share, for the quarter, reflecting a $1.1 billion pre-tax unrealized net gain on the fair value of insured derivatives. The stock was down 4.5% to $10.55 on after-hours volume of around 85,000.
was also down after the close as investors to reacted to news of a
set to hit the open market.
New York City-based MetLife said
is selling 146.8 million shares of MetLife common stock to the public in order to finalize the Alico transaction that closed last year.
The sale is part of AIG's efforts to repay bailout funds to the U.S. Treasury Department. At the same time, MetLife said it will offer 68.57 million shares of common stock in order to raise funds to repurchase additional preferred stock that AIG received as part of the deal.
MetLife shares were last quoted at $43.99, down 4.5%, on volume of nearly 290,000.
Written by Michael Baron in New York.
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