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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