7 Late Movers: eBay Jumps 1%, Xilinx Surges 7% and Education Stocks Get Schooled
eBay Inc. (NASDAQ:EBAY) shares are climbing 1 percent higher after the closing bell. The company announced net income of $1.98 billion ($1.51 per share), compared to $559 million (42 cents per share) last year. Earnings were helped by selling Skype, which is now owned by Microsoft (NASDAQ:MSFT).
F5 Networks Inc. (NASDAQ:FFIV) shares are surging more than 7 percent in extended trading. The company announced positive earnings and outlook. Net income came in at $66.5 million (83 cents per share), compared to $55.7 million (68 cents per share) last year. For the current quarter, the company said it expects revenue in the range of $332 million to $337 million, and adjusted earnings of $1.05 to $1.07 a share. Analysts were expecting earnings of $1.05 from revenue of $331 million.
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After closing up 7.45 percent on Wednesday, shares of Pandora Media Inc. (NYSE:P) continue to climb .70 percent in late trading. Raymond James initiated coverage at outperform, and placed a price target of $15 per share. Traditional radio outlets such as CBS (NYSE:CBS) and CC Media Holdings (CCMO) are flat after the closing bell.
Educational stocks such as DeVry Inc. (NYSE:DV), Apollo Group Inc. (NASDAQ:APOL) and Capella Education Co. (NASDAQ:CPLA) fell sharply Wednesday. Research firm Height Analytics said that President Obama might reduce the threshold for military funding, which would include college loans. However, Morgan Stanley (NYSE:MS) says the stock declines are an “overreaction.”
Shares of Xilinx Inc. (NASDAQ:XLNX) are jumping 7.3 percent in extended trading. Although net income declined at the company, it expects sales to increase to $521 million to $542 million in the current quarter. Analysts were only expecting sales of $508 million.
Investing Insights: eBay Inc. Earnings: Revenue and Net Income Grow.