6 Radar Stocks: AIG and Kraft Sink, LinkedIn Surges
Shares of LinkedIn Corp. (NYSE:LNKD) jumped more than 8 percent in late trading. After the closing bell, the social network company reported net income of $5 million (4 cents per share) for the first-quarter, compared to $2.1 million (0 cents per share) a year earlier. “LinkedIn’s solid performance in the first quarter built on the company’s momentum in 2011,” said Jeff Weiner, CEO of LinkedIn. “We saw strength across all key metrics from member signups and engagement to significant revenue growth across our three product lines.”
American International Group Inc. (NYSE:AIG) shares declined 1.4 percent in extended trading. The insurer reported net income of $3.21 billion ($1.71 per share) for the first-quarter, compared to $1.3 billion (35 cents per share) a year earlier. However, revenue was less-than-expected.
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First Solar Inc. (NASDAQ:FSLR) shares fell almost 1 percent after reporting a first-quarter loss of $449.4 million ($5.20 per share) in the first-quarter. In the same quarter last year, the solar company reported a profit of $116 million ($1.33 per share).
Despite reporting a slight increase in net income, shares of Kraft Inc. (NYSE:KFT) fell 1.09 percent after the closing bell. The packaged food company earned $813 million (46 cents per share) in the first-quarter, compared to $799 million (45 cents per share) a year earlier. However, analysts were expecting earnings of 56 cents per share.
After plummeting 47 percent during regular trading hours, Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) shares continued to edge lower. The company recently reported a weak outlook for the fiscal year during its earnings call. The company now expects to earn $2.40 to $2.50 per share for its full fiscal year on revenue of $3.8 billion to $4 billion. That is below previous estimates of $2.55 to $2.65 per share on revenue over $4.2 billion. Caribou Coffee Co. (NASDAQ:CBOU) also fell 12 percent in late trading as the company cut its 2012 sales outlook.
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