12 Booming Companies: Cisco Beats Estimates, Diamond Foods Crushed 43% and EA Loses CFO to Polycom
Shares of Groupon Inc. (NASDAQ:GRPN) fell more than 11 percent after the closing bell. The internet coupon company reported a fourth quarter loss of $42.7 million (8 cents per share). Analysts were expecting positive earnings of 3 cents per share.
Cisco Systems (NASDAQ:CSCO) shares edged slightly lower in extended trading. The networking giant reported earnings of 47 cents per share, compared to 37 cents per share a year earlier. Analysts only expected earnings of 43 cents per share. “It’s a nice upside surprise,” said Joanna Makris, an analyst at Mizuho Securities. “Broadly speaking, people expected a good quarter. Juniper Networks Inc. (NYSE:JNPR) also edged lower, while Hewlett-Packard (NYSE:HPQ) shares gained .07 percent.
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Diamond Foods Inc. (NASDAQ:DMND) shares were crushed more than 43 percent in late trading. The audit committee of its board of directors has concluded that the company will need to restate its financial results for fiscal 2010 and 2011, due to improper accounting methods on payments made to walnut growers. The news has also caused Procter & Gamble (NYSE:PG) to reconsider its Pringles sale to Diamond Foods.
Shares of Electronic Arts (NASDAQ:EA) dropped almost 5 percent after saying its chief financial officer Eric Brown has left the video game company. Brown accepted a position at Polycom (NASDAQ:PLCM), a maker of video conferencing products.
Whole Foods Market Inc. (NASDAQ:WFM) edged .54 percent lower, despite raising its 2012 profit outlook. For the fiscal first-quarter, the company earned $118.3 million (65 cents per share), compared to $88.7 million (51 cents per share) a year earlier.
Dr Pepper Snapple Group Inc. (NYSE:DPS) edged .50 percent higher after announcing a 6.3 percent quarterly dividend hike. The company will pay a 34 cents dividend on April 6 to shareholders of record as of March 19. Shares of PepsiCo. Inc. (NYSE:PEP) and Coca-Cola Co. (NYSE:KO) also edged higher in late trading.
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