6 Late Movers: Disney Climbs Higher, Green Mountain Shakes Up Board
Shares of Walt Disney Co. (NYSE:DIS) climbed 1.47 percent higher in late trading. The entertainment company reported strong financial results for the fiscal second-quarter. Net income increased 21 percent to $1.14 billion (63 cents per share), compared to $942 million (49 cents per share) a year earlier.
Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) shares fell more than 4 percent in extended trading after it announced board changes due to alleged trading violations. In a company press release, Green Mountain said its, “Board of Directors has appointed Mr. Michael J. Mardy, a director and chair of the Company’s Audit and Finance Committee, as interim Chairman of the Board. In addition, Ms. Hinda S. Miller, chair of the Company’s Corporate Social Responsibility Committee, has been appointed as Chair of the Governance and Nominating Committee, a committee she last chaired in 2010.”
After declining nearly 9 percent in regular trading, Rackspace Hosting Inc. (NYSE:RAX) shares continued to edge .55 percent lower. Late Monday, the company reported net income of $23 million (10 cents per share) for the first-quarter, but missed estimates of 17 cents per share. “While we’ve made a lot of progress so far in 2012, we have much more to do. We are executing through a very important platform shift to our next generation cloud, and we need to make this experience incredible for our customers,” said Lanham Napier, chief executive officer.
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Despite reporting a decline in first-quarter profits, shares of Blue Nile Inc. (NASDAQ:NILE) jumped almost 7 percent after the closing bell. Net income for the company came in at $154,000 (one cent per share), compared to $2.4 million (16 cents per share) a year earlier. However, the online jeweler reported a 3.6 percent increase in revenue to $83.1 million, above estimates of $82.3 million.
Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) shares edged .54 percent lower in late trading. The company reported first-quarter earnings of $27.7 million (48 cents per share), compared to $21.8 million (48 cents per share) a year earlier. “Our first quarter results reflect a significant increase in net sales driven by the continued growth of Xyrem, as well as our recent combination with Azur Pharma and the resulting expanded product portfolio that addresses significant patient needs,” said Bruce Cozadd, chairman and chief executive officer.
Shares of Medifast Inc. (NYSE:MED) fell .67 percent late Tuesday. The company reported a 37.2 percent decline in net income to $4 million (29 cents per share), compared to $6.4 million (44 cents per share) a year earlier. Analysts were expecting earnings of 37 cents per share.
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