7 Buzzing Stocks: Green Mountain and LinkedIn Climb Higher
American International Group Inc. (NYSE:AIG) shares dropped nearly 3 percent before the opening bell. 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.
Shares of LinkedIn Corp. (NYSE:LNKD) surged more than 9 percent in early trading. 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.”
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Exelon Corp. (NYSE:EXC) shares edged slightly higher despite reporting a decline in first-quarter income. The power generation company earned $200 million (28 cents per share), compared to $668 million ($1.01 per share) a year earlier.
Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) shares bounced 2.7 percent on Friday after falling nearly 50 percent the prior day. 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) shares dropped 10 percent as the company cut its 2012 sales outlook late Thursday.
DigitalGlobe Inc. (NYSE:DGI) shares jumped 17.6 percent in morning trading. The company received an offer by GeoEye Inc. (NASDAQ:GEOY) to by it for $792.3 million in a cash and stock deal. GeoEye is offering DigitalGlobe shareholders a total amount of $17 per share, 26 percent above its Thursday’s closing price.
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