10 Late Movers: VMware Surges 5%, Railroads Veer Off Track and Texas Instruments Beats on Revenue

VMware Inc. (NYSE:VMW) shares surged more than 5 percent in late market trading.  The company reported a 67 percent jump in net income for the fourth quarter.  The company earned $200.4 million (46 cents per share), compared to $119.9 million (28 cents per share) in the previous year.

Shares of CSX Corp. (NYSE:CSX) fell almost 2 percent after reporting fourth quarter results.  Profits increased 6 percent to $457 million (43 cents per share).  Analysts were expecting net earnings of 44 cents per share.  Shares of Norfolk Southern Corp. (NYSE:NSC) and Union Pacific Corp. (NYSE:UNP) also fell after the results.

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Although net income declined, Texas Instruments Inc. (NYSE:TXN) traded higher after the closing bell.  The company still reported fourth quarter revenues of $3.42 billion, compared to estimates of $3.25 billion.  Shares of Qualcomm Inc. (NASDAQ:QCOM) are also trading higher.

Western Digital Corp. (NYSE:WDC) jumped 4.4 percent after reporting fiscal second quarter results.  The company earned $145 million (61 cents per share), compared to $225 million (96 cents per share) in the previous year.  Although analysts expected earnings of 65 cents, the company would have reported earnings of $1.51 per share if it did not incur Thailand flooding and acquisition costs of Hitachi Global Storage Technologies.

Zions Bancorp (NASDAQ:ZION) declined 4 percent late Monday.  The bank reported net income of $44.4 million (24 cents per share) in the fourth quarter, compared to a loss of $110.3 million in the previous year.  Meanwhile, non-accrual loans decreased 15 percent.  Major banks such as Bank of America (NYSE:BAC) and JP Morgan (NYSE:JPM) also declined late Monday.

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To contact the reporter on this story: Eric McWhinnie at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com