3 Radar Stocks Sinking in Late Trading: IBM and VMware Disappoint, Crocs Sinks 36%
Shares of IBM (NYSE:IBM) are down more than 3% in late trading after the company reported third quarter earnings. Net income for International Business Machines Corporation rose to $3.84 billion ($3.19 per share) vs. $3.59 billion ($2.82 per share) in the same quarter a year earlier. This marks a rise of 7% from the year earlier quarter.
Investing Insights: IBM Earnings Cheat Sheet: Positive Earnings Streak.
VMware, Inc. (NYSE:VMW) is down 4.6% after the closing bell. VMWare reported third quarter earnings of $178 million (41 cents per share), compared to earnings of $85 million (20 cents per share) last year. Analysts were expecting earnings of 50 cents a share on revenue of $929.7 million.
Investors are walking all over Crocs, Inc. (NASDAQ:CROX) in extended trading. Shares are down 36% after reducing third quarter guidance. The company cut guidance from 40 cents per share, down to 31-33 cents per share. Shares were halted for 30 minutes, but continued the steep selloff after trading resumed.
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