American Greetings Corporation (NYSE:AM): Shutterfly (NASDAQ:SFLY) reported its earnings this week, which showed a year-on-year increase of 31 percent in revenues. Although there has been an increase in revenues, a net loss of $9.5 million was posted by the company. The loss can mostly be blamed on a significant rise in marketing expenses as well as technology & development spending. After excluding stock-based compensation and amortization, these expenses rose $8 million year-over-year. Shutterfly mostly competes with services like as HP’s (NYSE:HPQ) Snapfish, American Greetings’ Photoworks and Webshots brands, and Apple’s (NASDAQ:AAPL) Cards app on iOS. Shares of American Greetings Corporation are trading 1.63% lower today.
Amgen, Inc. (NASDAQ:AMGN) offered to acquire Human Genome Sciences (NASDAQ:HGSI) for $35 per share two years ago, but the preliminary $7 billion bid was rejected, Reuters reports citing sources.Human Genome agreed to be bought by GlaxoSmithKline (NYSE:GSK) for $14.25 per share, or or $3 billion last week. Shares of Amgen, Inc. are trading 3.37% higher today.
Akamai Technologies, Inc. (NASDAQ:AKAM) reported strong Q2 earnings of 43 cents per share, a 23.4 percent rise from 35 cents earned in the same quarter a year ago. Earnings including stock-based compensation expense and amortization of capitalized stock-based compensation, but excluding amortization of other intangible and restructuring charges, reached 26 cents per share exceeding the Zacks Consensus Estimate by a a few cents. Shares of Akamai Technologies, Inc. are trading 0.06% lower today.
Piedmont Natural Gas Company Inc. (NYSE:PNY): In other trading, natural gas prices fell flat at $3.05 per 1,000 cubic feet following the government’s comment that the nation’s supply grew last week. Inventories for natural gas were 15.8 percent higher than the five-year average, as of July 20. Shares of Piedmont Natural Gas Company Inc. are trading 0.1% higher today.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.