Shares of SunPower ( SPWR) were among the Nasdaq's winners Thursday, jumping 11% after the solar-cell producer posted better-than-expected second-quarter earnings and projected third-quarter results ahead of forecasts. The company earned $5.4 million, or 8 cents a share, on revenue of $54.7 million. Excluding items, SunPower earned $7.5 million, or 11 cents a share. Analysts polled by Thomson First Call expected earnings of 6 cents a share on revenue of $51.6 million. A year earlier, the company recorded a loss of $6.3 million, with revenue of $16.4 million. Looking ahead, SunPower sees third-quarter earnings of 13 cents to 15 cents a share, excluding items. The company predicts revenue of $60 million to $62 million. Analysts project earnings of 10 cents a share and revenue of $59 million. SunPower shares were trading up $2.91 to $29.35. Johnson Controls ( JCI) slid 10% after the auto-parts supplier posted mixed third-quarter results and projected fourth-quarter earnings below Wall Street's expectation. For the quarter ended June 30, the company posted earnings from continuing operations of $336 million, or $1.70 a share, including one-time items that added 2 cents to EPS. Analysts expected earnings of $1.68 a share. Revenue totaled $8.39 billion, short of analysts' forecast of $8.43 billion. During the year-earlier quarter, the company earned $255 million, or $1.31 a share, on revenue of $7.06 billion. Johnson Controls forecast fiscal fourth-quarter earnings of $1.86 to $1.91 a share. Analysts project earnings of $1.95 a share. Shares were trading down $7.96 to $73.31. Safeway ( SWY) shares jumped 7% after the supermarket operator posted higher-than-anticipated second-quarter results and raised its guidance. The company earned $246.2 million, or 55 cents a share, up from $134 million, or 30 cents a share, a year earlier. Excluding a one-time gain of $58.5 million, the company earned 42 cents a share, easily topping analysts' forecast of 36 cents a share. Revenue rose to $9.37 billion from $8.8 billion, surpassing Wall Street's target of $9.26 billion. "These improved results were driven by strong sales growth, a healthy expansion in nonfuel gross margin and significant operating and administrative expense leverage," the grocer said.
Safeway now sees full-year earnings of $1.65 to $1.75 a share, up from an earlier view of $1.55 to $1.65 a share. The guidance excludes the second-quarter gain of 13 cents a share. Analysts project earnings of $1.61 a share for the year. Safeway shares were up $1.81 to $27.48. Shares of Steel Dynamics ( STLD) rose 3% after the steel company's second-quarter results handily topped estimates. The company earned $96.9 million, or $1.78 a share, on revenue of $821.2 million. Analysts expected earnings of $1.55 a share and revenue of $749.1 million. During the year-earlier period, the company earned $50.7 million, or $1 a share, on revenue of $545.8 million. For the third quarter, Steel Dynamics projects earnings of $2.05 to $2.15 a share, above analysts' forecast of $1.60 a share. Shares were trading up $1.57 to $62.20. Shares of Domino's Pizza ( DPZ) sagged 10% after the pizza maker posted second-quarter earnings that missed expectations. For the period ended June 18, the company earned $24.5 million, or 39 cents a share, on revenue of $327.7 million. Excluding a one-time tax benefit of about $2.9 million, the company earned 34 cents a share during the quarter. Analysts expected earnings of 37 cents a share. Last year, Domino's earned $23.1 million, or 34 cents a share, on revenue of $347 million, in the second quarter. Shares were trading at $21.47, down $2.41. NYSE volume leaders included Motorola ( MOT), up $2.04 to $21.29; Lucent Technologies ( LU), up 3 cents to $2.12; Nokia ( NOK), up 47 cents to $19.80; Pfizer ( PFE), up 34 cents to $23.64; EMC ( EMC), down 5 cents to $10.29; Ford ( F), down 4 cents to $6.29; and JPMorgan Chase ( JPM), up 30 cents to $43.35. Nasdaq volume leaders included Intel ( INTC), down 93 cents to $17.56; Apple Computer ( AAPL), up $6.78 to $60.88; Yahoo! ( YHOO), up 35 cents to $25.55; eBay ( EBAY), down 25 cents to $25.68; Microsoft ( MSFT), down 43 cents to $22.97; Sirius Satellite Radio ( SIRI), down 5 cents to $4.08; Qualcomm ( QCOM), down 90 cents to $35.83; and Oracle ( ORCL), up 7 cents to $15.14.