Guess? ( GES), the fashion apparel and accessories company, reported fourth-quarter revenue below analysts' expectations and provided a weak outlook. Guess? posted fiscal fourth-quarter profit of $95.9 million, or $1.05 a share, on revenue of $775.8 million. It earned $103.3 million, or $1.11 a share, a year earlier. Analysts were expecting profit of $1.05 a share in the quarter on revenue of $778 million. For the first quarter ending in April, the company forecast earnings of 25 cents to 28 cents a share on revenue of $560 million to $575 million. Analysts forecast earnings of 48 cents a share on revenue of $609.7 million in the quarter. Shares were plunging 11.6% at $32.44.
Communications solutions provider Avaya will buy video conferencing and visual communications provider Radvision ( RVSN) for $11.85 a share in cash, putting the value of the deal at about $230 million. The price represents a premium of about 57% over Radvision's average closing share price during the 90 trading days ended Wednesday. Radvision shares were popping 4.6% to $11.72 in premarket trading Thursday.
Capital One ( COF) said it would sell $1.25 billion worth of stock in a secondary offering. The bank plans to use the proceeds of the sale to fund part of its purchase of HSBC's U.S. credit card business, a deal that received regulatory approval last week. Shares were falling 1% to $51.80.
Retailer Ross Stores ( ROST) is expected by analysts to report fourth-quarter earnings of 85 cents a share on sales of $2.4 billion. Shares were gaining 2.4% to $57.90.
Nokia ( NOK) is creating a tablet computer, the handset maker's design chief told a Finnish magazine. "We are working on it," said Marko Ahtisaari, according to Kauppalehti Optio . Ahtisaari said he is spending a third of his time working on the tablet. Reports have said Nokia planned to launch a tablet using Microsoft's Windows 8 software in 2012. Nokia shares were rising 1.8% to $5.03.
Google ( GOOG) will begin undergoing a major, long-term overhaul of its search-engine over the next few months to improve the quality of its search queries functions, according to The Wall Street Journal. Shares were flat at $615.92.
Teen specialty retailer Rue21 ( RUE) projected first-quarter earnings of 42 cents a share to 44 cents a share, compared with the 44 cents a share that analysts, on average, were expecting. -- Written by Joseph Woelfel and Andrea Tse >To contact the writer of this article, click here: Joseph Woelfel Related links:
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