These companies are trading heavily this morning:
1) WD-40 (NASDAQ:WDFC) company released its third quarter earnings yesterday, and its mixed results caused investors to get wary, selling down the stock price by 3.14% this morning. The company fell short of analyst expectations of earnings of $.52 per share, while revenues also missed target marks. The household product maker’s U.S. sales were down for the quarter, though its overall sales were still up on strong international demand.
2) Semi LEDs Corp. (NASDAQ:LEDS) is getting wracked in premarket activity, down 15% on news of less than stellar earnings that came in yesterday. The company posted a third quarter loss of $5.1 million, with quarterly sales down $4.3 million YoY, and an EPS at a loss of $.16 per share. Analysts were expecting a loss of $.06 per share and revenues of $6.3 million. Keep your eyes on these top competitors Cree, Inc. (NASDAQ:CREE), Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM), and Micron Technology, Inc. (NASDAQ:MU).
3) Multi-Fineline Electronix (NASDAQ:MFLX) is set to open lower this morning, already down 10.95% in premarket trading on news that the company down-revised its forecast for third quarter revenues. The circuit maker now expects to earn $191 million in the quarter, down from earlier expectations of $200 million or more. The company blames “reduction in demand from one key customer in the latter part of June” for the shortfall.
4) Aeroflex (NYSE:ARX) also lowered its earnings projections for the current quarter based on slowing demand for military contracts, the company’s biggest client. Flex now expects to pull $198-200 million in quarterly earnings. The stock is unchanged in premarket trades.