4 Stocks Making Waves in the Market After Earnings
Stocks were mostly flat Thursday, but these companies excited investors after earnings and continue to stay in the spotlight today:
1) Viacom (NYSE:VIA): Net income decreased to $610 million ($1 per share) for the most recent quarter. Prior year’s same quarter was $694 million ($1.14 per share). Due to lower home entertainment sales, revenue also decreased from $4.02 billion to $3.83 billion. Shares traded down nearly 1% during Thursday trading.
2) Merck (NYSE:MRK): The company disappointed investors Thursday, as shares traded down 2.7%. The company reported a $531 million (17 cents per share) net loss for the fourth quarter. Merck also took a $1.7 billion charge due to failed testing on its anit-clotting drug vorapaxar.
3) Harmonic (Nasdaq:HLIT): The video services provider delivered mixed quarter results, but traders chose to only hear the good. Due to increased expenses, the company reported a net loss for the fourth quarter. However, traders sent shares 5.5% higher in after hour trading due to the company’s adjusted profit topping estimates. Excluding one time items, the company reported $12.5 million (11 cents per share) net income. Last year’s net income was only $6.3 million (7 cents per share).
4) CVS Caremark Corporation (NYSE:CVS): Thursday trading wasn’t so healthy for the stock as shares traded down 5%. CEO Larry Merlo admitted that profits at the Caremark unit will decrease for the second consecutive year. Fourth quarter profit fell 2% $1.03 billion. Revenue also fell from $25.82 billion to $24.77 billion.
Disclosure: No positions
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