Cisco Systems Inc. reported a jump in quarterly profit and said it would pay a bigger dividend, continuing the networking-equipment giant’s transformation from a fast-growing upstart to a more mature company. Shares climbed 7.2% to $18.62 in premarket trade.
PetSmart’s shares surged after the retailer turned in a better-than-expected profit for its fiscal second quarter and again boosted its earnings expectations for the year. The latest period marks the 10th straight quarter that PetSmart has reported double-digit profit growth–mostly in the range of 20%–driven by high-margin prescriptions, “super-premium” pet foods and hard goods. Shares rose 6% to $71.50 premarket.
Videogame maker Electronic Arts is exploring a sale as the company struggles against competition from free online gaming sites, the New York Post reported, citing sources. The paper said EA has been approached by private-equity giants KKR and Providence Equity Partners about a potential deal. Representatives for EA weren’t immediately available for comment. Shares jumped 11% to $14.55 premarket.
Agilent Technologies Inc.’s (A) fiscal third-quarter profit fell 26% as the testing-and-measuring equipment maker reported higher expenses and weaker margins. Shares fell 7.4% to $37.50 premarket as results missed Agilent’s expectations and the company lowered its full-year guidance.
Coinstar Inc. (CSTR)–the parent of struggling movie-rental-kiosks company Redbox–has been exploring the possibility of selling itself to an undisclosed private-equity firm for several months, the New York Post reported, citing sources. Representatives of Coinstar couldn’t immediately be reached for comment. Shares jumped 8.2% to $52.15 premarket.
Dollar Tree Inc.’s (DLTR) fiscal second-quarter earnings rose 26% as the discount retailer posted higher sales. Still, shares were recently trading 6.2% lower at $46.93 premarket as the company issued a typically cautious outlook for the current quarter.
Applied Materials Inc.’s (AMAT) fiscal third-quarter profit fell 54% as the semiconductor-equipment maker recorded lower sales and restructuring charges. Shares slumped 4.3% to $11.29 premarket as the company said it sees an even deeper slowdown for chip-production gear spending in the current period and issued guidance below analyst expectations.
NetApp Inc.’s (NTAP) fiscal first-quarter profit fell 54%, but largely in-line results and guidance from the data-storage company helped alleviate some worries about spending by business users. Shares rose 4.8% to $33.28 premarket as adjusted earnings topped the company’s weak projections from May.
NetEase Inc.’s (NTES, K3MD.SG) second-quarter earnings increased 13% as the Internet company posted stronger revenue from online games and advertising. However, its American depositary shares fell 8.9% to $53 premarket as results missed analyst expectations.
New York Mortgage Trust Inc. (NYMT) unveiled an offering of 10 million shares, saying it wants to raise money to buy mortgage-backed securities. Shares were off 3.9% to $6.67 premarket.
Sina Corp.’s (SINA) second-quarter surged higher, as the Chinese Internet company’s results were boosted by an equity investment, masking sharply higher costs. Shares rose 7% premarket to 54.47 after the company posted a surprise adjusted profit.
AFC Enterprises Inc.’s (AFCE) fiscal second-quarter earnings jumped a better-than-expected 20% as the restaurant operator saw same-store sales continue to climb, especially in the U.S.
Hot Topic Inc.’s (HOTT) fiscal second-quarter loss narrowed as the teen-apparel retailer’s revenue and margins strengthened.
Limited Brands Inc.’s (LTD) fiscal second-quarter profit fell 38% on fewer one-time gains and slightly weaker sales. But the company’s adjusted earnings and sales edged out expectations, and Limited raised its full-year outlook.
Ross Stores Inc. (ROST) said it approved a new management succession plan, under which Chief Executive Michael Balmuth will transition to the role of executive chairman in 2014.
Source: Dow Jones Newswires