6 Stocks Hitting Radars: EA Drops 9%, Rackspace and Dendreon Shares Crash
Shares of Electronic Arts (NASDAQ:EA) dropped more than 9 percent after the closing bell. The video game maker reported it earned $400 million ($1.20 per share) for the fourth-quarter, compared to $151 million (45 cents per share) a year earlier. However, the company lowered its outlook and is expecting a loss of 40 cents to 45 cents in the fiscal first-quarter, compared to estimates for a loss of 33 cents.
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WYNN Resorts Ltd. (NASDAQ:WYNN) fell 1.3 percent in late trading. The casino company earned $140.6 million ($1.23 per share) in the first-quarter, compared to $173.8 million ($1.39 per share) a year earlier. Revenue increased 4.2 percent to $1.31 billion.
Rackspace Hosting Inc. (NYSE:RAX) shares plummeted 11.5 percent in extended-trading hours. 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. Massive technology disruptions like this create once in a lifetime opportunities for companies to seize the moment, take the initiative, and lead the revolution. Our goal is to lead the revolution,” said Lanham Napier, chief executive officer.
Despite closing 4.3 percent higher during regular trading, MAKO Surgical Corp. (NASDAQ:MAKO) shares crashed 30 percent after the closing bell. The company reported a first-quarter loss of 28 cents per share. Analysts were expecting a loss of 20 cents per share.
Shares of Vivus Inc. (NASDAQ:VVUS) declined 1.6 percent in late trading. The company reported a first-quarter loss of $18.8 million (20 cents per share), compared to a loss of $9.9 million (12 cents per share) a year earlier.
Although Dendreon Corp. (NASDAQ:DNDN) reported better-than-expected results for the first-quarter, shares dropped 10 percent after the closing bell. The biotech company reported a net loss of $103.9 million, compared to a net loss of $112.8 million a year earlier.
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