6 Stocks Hitting Radars: Shutterfly Surges on Kodak Deal, Foot Locker Shares Get Kicked 3% Lower
Shares of Boeing Co. (NYSE:BA) edged slightly higher in late market trading. The company announced it received an order from Kazakhstan for three fuel-efficient 787 Dreamliners and four extended-range 767s. The deal is valued at $1.3 billion.
Shutterfly Inc. (NASDAQ:SFLY) shares surged more than 14 percent in extended trading. The online photo company plans to purchase Kodak’s online photo sharing platform for $23.8 million. The deal will transfer customer accounts and images in the U.S. and Canada from Kodak Gallery to Shutterfly.
Ascena Retail Group Inc. (NASDAQ:ASNA) shares jumped 8.3 percent after reporting impressive second quarter results. Net income for the company was $63.7 million (81 cents per share), compared to $42.5 million (52 cents per share) a year earlier.
Despite beating estimates, Foot Locker Inc. (NYSE:FL) shares dropped 3.15 percent after the closing bell. The company reported earnings per share of 55 cents for the fourth quarter, 4 cents better than estimates. Revenues also increased 7.9 percent to $1.5 billion, compared to $1.39 billion a year earlier.
The Wendy’s Company (NYSE:WEN) shares bounced 1 percent higher after reporting a profit of $4 million for the fourth quarter. “Customer feedback on the 10 Image Activation restaurants we remodeled during 2011 has been very positive, and sales growth has exceeded our expectations,” said President and Chief Executive Officer Emil Brolick. “Based on these results, we are targeting a return on this remodeling investment of approximately 15 percent and intend to use our balance sheet and cash flow to fund the program. As we validate these returns, we will also begin to work with our franchisees to develop financing sources for this re-imaging program.”
After closing almost 10 percent higher during regular market hours, Zynga Inc. (NASDAQ:ZNGA) shares continued to climb higher in late trading. On Thursday, the company announced a new platform where users will be able to play games through its website, as opposed to logging onto Facebook.
Investor Insight: Is Domino’s Pizza a Tech Play for Investors?
To contact the reporter on this story: Eric McWhinnie at firstname.lastname@example.org
To contact the editor responsible for this story: Damien Hoffman at email@example.com