Coinstar Inc.’s (CSTR, $44.36, +$6.15, +16.10%) first-quarter profit more than tripled, partially on prior-year losses from discontinued operations, as the parent of Redbox DVD kiosks reported stronger-than-expected results on strength from Redbox and the company’s coin operations.
McAfee Inc.’s (MFE, $34.75, -$4.78, -12.09%) first-quarter profit fell 30% as the antivirus-software maker posted charges and slightly lower margins, which masked revenue growth. The company, which reported results on the low end of its February estimates, also issued a weak second-quarter outlook.
MEMC Electronic Materials Inc. (WFR, $12.97, -$2.97, -18.63%) swung to a first-quarter loss as overhead costs more than doubled, which with slumping interest income more than offset a big sales increase. The maker of silicon wafers posted results worse than Wall Street expected. With the oil slick in the Gulf of Mexico continuing to wreak havoc, the pain was also spreading in shares of the oil services industry as Transocean Ltd. (RIG, $72.32, -$6.19, -7.88%) and Halliburton Co. (HAL, $30.65, -$0.95, -3.01%) sank hard for a second straight day.
Barclays PLC (BCS, $20.42, -$1.91, -8.55%) reported a 29% rise in first-quarter profit helped by falling bad-debt charges, but income at its Barclays Capital unit disappointed. Analysts said lower credit market losses, rather than revenue, lifted profit at Barcap, which accounted for four-fifths of group earnings.
Thoratec Corp. (THOR, $44.76, +$8.47, +23.34%) shares soared well past their all-time high Friday, a day after the medical device maker’s first-quarter results smashed expectations on the strength of a new market its heart pump recently broke open. Thoratec’s results also boosted shares of its competitor,
HeartWare International Inc. (HTWR, $56.24, +$5.94, +11.81%).
QLogic Corp. (QLGC, $19.37, -$2.21, -10.24%) swung to a loss in its fiscal fourth quarter, although earnings, excluding a special tax charge linked to license-agreement changes, were better than analysts expected. But shares fell as fiscal first-quarter revenue guidance came in below expectations.
American Axle & Manufacturing Holdings Inc. (AXL, $10.76, -$0.98, -8.35%) swung to a first-quarter profit on strong sales as the auto supplier’s margins jumped. But profit only just met expectations and revenue fell short.
Aon Corp.’s (AON, $42.46, -$1.54, -3.50%) first-quarter earnings declined 36% on $126 million in year-earlier tax gains, though the insurance broker’s adjusted earnings rose and topped analysts’ estimates.
Applied Micro Circuits Corp. (AMCC, $11.28, +$0.70, +6.57%) a provider of performance computing and connectivity solutions reported better-than-expected fiscal fourth-quarter results as bookings jumped to their highest level since June 2007.
Athenahealth Inc. (ATHN, $29.02, -$6.33, -17.91%) reported weaker-than-expected first-quarter results and Leerink Swann cut its rating on the provider of Internet-based business services for physicians to market perform from outperform. The firm said the weak results “highlighted the company’s inability to add providers in-line with guidance and expectations, the churn risk of losing significant customers and an outlook for lower levels of future profitability as the company increases spending to support growth.”
China Sunergy Co. (CSUN, $4.80, +$0.27, +5.96%) rebounded from a prior-year loss in the first quarter as the Chinese solar-cell maker saw production and shipments soar compared with a year earlier. The results beat analysts’ expectations.
Chiquita Brands International Inc. (CQB, $15.04, -$0.83, -5.23%) missed expectations for its first quarter, posting a loss from continuing operations when analysts had expected the iconic banana company to post a profit.
Bank-holding company City National Corp. (CYN, $62.28, +$4.15, +7.14%) reported better-than-expected first-quarter results. Sterne Agee raised its rating on the company to neutral from sell, as the analysts said they think the outlook is improving, particularly on the credit front.
Constellation Energy Group Inc. (CEG, $35.35, -$2.21, -5.88%) swung to a first-quarter profit following prior-year charges but the power producer cut its outlook for 2011 on an uncertain pricing outlook.
Digital River Inc. (DRIV, $27.86, -$3.42, -10.93%) reported better-than-expected first-quarter results, but shares slipped as the e-commerce outsourcing company projected weak second-quarter results as it tries to maintain its cost structure and on reduced contributions from its major customer, Symantec Corp. (SYMC). Symantec’s contract with Digital River ends in June.
Discovery Communications Inc.’s (DISCA, $38.73, +$1.23, +3.28%) first-quarter earnings climbed 42% as the cable network owner boosted its forecast for the year on strong gains in ad revenue in the U.S. and abroad, adding momentum to the growth provided by its stable subscription revenue.
Home building company D.R. Horton Inc. (DHI, $14.69, +$0.45, +3.16%) swung to a surprise fiscal second-quarter profit, its second straight period in the black, helped by a focus on the key first-time buying demographic.
S&P Equity Research cut camera maker Eastman Kodak Co. (EK, $6.13, -$0.81, -11.67%) to sell from hold and slashed its fiscal-year earnings-per-share view, citing declining film sales and still unprofitable inkjet printers. Deutsche Bank called the core business “challenged,” noting cash from intellectual property will be reinvested in loss-making inkjets for the next few years, rather than returned to shareholders, minimizing the value appeal of these legal settlements. On Thursday, the company reported a weaker-than-expected first-quarter profit.
Endo Pharmaceuticals Holdings Inc.’s (ENDP, $21.90, -$1.10, -4.78%) first-quarter earnings climbed about 55%, largely on prior-year charges, while sales growth was solid. Still, results missed analysts’ forecasts and the drug maker said 2010 earnings likely would be in the lower half of its previously given range.
Federal Signal Corp. (FSS, $8.06, -$2.13, -20.90%) reported weaker-than-expected first-quarter results amid lower sales volume, which resulted from a lower order backlog and a port workers’ strike in Finland that hurt shipments for the manufacturing company’s Bronto skylift business.
Fiserv Inc.’s (FISV, $51.13, -$3.56, -6.51%) first-quarter earnings jumped 17% on fewer charges and increased operating results as expenses slid more than revenue. But results fell just short of analysts’ expectations.
Intermec Inc. (IN, $11.47, -$2.05, -15.16%) posted a surprise first-quarter loss and revenue below expectations as the U.S. government sector and North America weighed on results. The company, which develops products and services that identify, track and manage supply chain assets and information also provided weak second-quarter guidance and saw its stock-investment rating downgraded to market perform from outperform by Raymond James.
James River Coal Co.’s (JRCC, $18.77, +$1.03, +5.81%) first-quarter profit dropped 17% as revenue declined on lower output, but results were far better than analysts expected.
Jarden Corp. (JAH, $32.12, -$1.39, -4.15%) swung to a first-quarter loss on charges related to the devaluation of Venezuela’s currency earlier this year, which masked the company’s better-than-expected sales and profit excluding charges. Jarden sells Oster blenders, Mr. Coffee cappuccino makers and Coleman outdoor products among its more than 100 active brands.
Mettler-Toledo International Inc. (MTD, $125.48, +$5.65, +4.72%) reported 11% sales increase and said businesses conditions were improving with strength in emerging markets as the manufacturer of precision measurement instruments topped expectations for earnings and revenue. Micro Systems Inc. (MCRS, $37.16, +$2.69, +7.80%) reported fiscal third-quarter results that were better than expected as the supplier of information systems to the hospitality and retail industries said it sees business conditions showing signs of improvement.
Nasdaq OMX Group Inc.’s (NDAQ, $21.00, -$0.84, -3.85%) first-quarter earnings slid 35%, and adjusted results fell short of analysts’ estimates, as revenue decreased at the market operator.
PAA Natural Gas Storage LP’s (PNG, $23.25, +$1.75, +8.14%) initial public offering of at least 11.7 million units priced at $21.50 each Thursday, above the expected range of $19 to $21. The size of the offering also was increased 17%.
Questcor Pharmaceuticals Inc. (QCOR, $9.77, +$0.97, +11.02%) reported slightly weaker-than-expected first-quarter results, but the biopharmaceutical company showed “continued positive momentum from all fronts,” Maxim Group said. The firm noted the company’s drug Acthar for the treatment of multiple sclerosis continued to grow quarter over quarter.
ResMed Inc. (RMD, $68.43, +$6.74, +10.93%) gained after the medical-equipment company’s fiscal third-quarter results beat consensus expectations.
Ruddick Corp. (RDK, $35.34, +$2.38, +7.22%) reported better-than-expected fiscal second-quarter results as sales increased at both of the holding company’s operating subsidiaries the supermarket chain Harris Teeter, and American & Efird, Ruddick’s sewing thread and technical textiles subsidiary.
Rudolph Technologies Inc. (RTEC, $9.53, -$1.40, -12.81%) reported first-quarter results in line with expectations, but shares fell as tech investors have become used to a beat-and-raise environment and are not satisfied with in-line results. That trend also hurt shares of International Rectifier Corp. (IRF, $23.02, -$2.08, -8.29%). The stock traded lower even after the tech company posted strong results and guidance.
Skyworks Solutions Inc. (SWKS, $16.83, +$0.59, +3.63%) posted fiscal second-quarter results and fiscal third-quarter guidance that topped Wall Street estimates as the semiconductor company benefits from demand for analog chips for smart phones, broadband access, network infrastructure and smart grid applications.
Stamps.com (STMP, $10.60, +$0.48, +4.74%), a provider of postage and shipping via the Internet, reported better-than-expected first-quarter results and projected 2010 results in line with analysts’ forecasts. First-quarter revenue slightly beat expectations. Sunoco Inc. (SUN, $32.78, +$1.36, +4.33%) swung to a first-quarter loss as the refiner recorded charges related to the sale of its chemicals business, but the company’s results smashed expectations due to strength in its nonrefining businesses.
Timberland Co. (TBL, $21.50, -$1.30, -5.70%) handily topped expectations for its first-quarter profit as the footwear company said it was gaining traction, but analysts cautioned that the quarter didn’t erase all concerns and the stock slipped off recent highs. Timberland, the maker of its namesake boots, is attempting to expand its reach into more outdoor apparel, and while analysts said the quarter was strong, there remain questions about sustainability of current revenue growth.
Trex Co.’s (TREX, $24.49, +$1.95, +8.65%) first-quarter loss widened less than analysts expected despite a bigger-than-anticipated drop in sales. But the maker of decks, rails and fences did project revenue for the current quarter of above analysts’ estimates.
VistaPrint NV (VPRT, $51.58, -$7.02, -11.98%) reported better-than-expected earnings in its fiscal third quarter but the small-business services company missed on revenue expectations. The company also delivered a fourth-quarter forecast for earnings that was below Wall Street’s forecasts.
Sportswear designer Volcom Inc. (VLCM, $23.85, +$2.18, +10.06%) reported better-than-expected first-quarter results. Needham raised its rating on the company to buy from hold, citing Volcom’s opportunity for earnings-per-share growth driven by margin improvements and revenue growth.
Shares of WellPoint Inc. (WLP, $53.80, -$5.28, -8.94%) fell after the health insurer disclosed that it would be rescinding its planned 39%-plus rate hikes in California. The company said it would refile rate plans for its Anthem Blue Cross unit in California.