Shares of Avnet ( AVT) were among the NYSE's winners Thursday, jumping 13% after the company posted better-than-expected earnings and offered a guidance above Wall Street's target. For the second quarter ended Dec. 30, the distributor of electronic components earned $99.1 million, or 67 cents a share, on revenue of $3.89 billion. Analysts polled by Thomson First Call expected earnings of 61 cents a share and revenue of $3.93 billion. A year earlier, Avnet recorded adjusted earnings of $71 million, or 48 cents a share, on revenue of $3.76 billion. Looking ahead, Avnet forecast third-quarter earnings of 67 cents to 71 cents a share, with revenue of $4.1 billion to $4.3 billion. Analysts, on average, project a profit of 60 cents a share and revenue of $4.1 billion. Shares were trading up $3.31 to $29.42. Netflix ( NFLX) rose 3% after the online DVD rental company posted better-than-expected fourth-quarter results and issued a rosy first-quarter forecast. The company earned $14.9 million, or 21 cents a share, on revenue of $277.2 million. Analysts expected earnings of 15 cents a share on revenue of $277.2 million. During the year-earlier period, the company earned $38.2 million, or 57 cents a share, on revenue of $193 million. For the first quarter, Netflix sees earnings of 13 cents to 18 cents a share, above Wall Street's target of 11 cents. The company predicts revenue of $304 million to $310 million, compared with analysts' projection of $309.1 million. Shares recently were up 60 cents to $23.35.
Nucor ( NUE) rose 5% after the steelmaker's fourth-quarter results handily beat estimates. The company earned $408.2 million, or $1.35 a share, on revenue of $3.47 billion. Analysts expected earnings of $1.13 a share and revenue of $3.34 billion. During the year-earlier period, the company earned $341 million, or $1.09 a share, on revenue of $3.21 billion. Shares were trading up $2.91 to $62.11. Shares of Cohen & Steers ( CNS) climbed 5% after the asset manager's fourth-quarter results topped forecasts. The company earned $16.6 million, or 40 cents a share, doubling from $8.3 million, or 21 cents a share, a year earlier. Revenue rose to $57.6 million from $37.4 million. Analysts anticipated earnings of 35 cents a share on revenue of $51.9 million. Shares were up $2.46 to $48.29. Shares of Charlotte Russe ( CHIC) tumbled 11% after the teen clothing retailer offered a tepid second-quarter forecast and was subsequently downgraded. For the first quarter ended Dec. 30, Charlotte Russe posted net income of $13.9 million, or 55 cents a share, up from $7.1 million, or 29 cents a share, a year earlier. The earnings per share were a penny below Wall Street's estimate. Sales rose to $209.2 million from $178.5 million, while same-store sales rose 1.5%. For the second quarter, Charlotte Russe forecast earnings of 10 cents to 13 cents a share, at or below analysts' average projection of 13 cents. After the report, Roth Capital downgraded the stock to hold from buy. Shares were trading down $3.62 to $29.26.
Shares of Pantry ( PTRY) slipped 1% after the convenience-store operator turned in lower than expected first-quarter results and cut its full-year earnings outlook. For the quarter ended Dec. 28, the company earned $125,000, or 1 cent a share, on revenue of $1.38 billion. Analysts expected earnings of 18 cents a share and revenue of $1.39 billion. During the year-earlier quarter, Pantry earned $33 million, or $1.45 a share, on revenue of $1.32 billion. Pantry now sees 2007 earnings of $2.75 to $2.90 a share, down from an earlier forecast of $2.80 to $3 a share. Analysts predict earnings of $2.95 a share. Shares were trading down 60 cents to $50.15. NYSE's heaviest movers included Ford ( F), up 5 cents to $8.25; Nokia ( NOK), up 85 cents to $21.06; Equity Office Properties ( EOP), up $2.10 to $54.80; Taiwan Semiconductor ( TSM), down 56 cents to $10.92; Motorola ( C), up 23 cents to $18.80; and LSI Logic ( GLW), down 65 cents to $9.83. Nasdaq volume leaders included Sun Microsystems ( SUNW), up 21 cents to $6.36; eBay ( EBAY), up $2.34 to $32.34; Microsoft ( MSFT), down 17 cents to $30.92; Cisco Systems ( CSCO), down 41 cents to $26.48; Level 3 Communications ( LVLT), down 8 cents to $6.18; and Intel ( INTC), down 9 cents to $20.75.