9 Radar Movers: Applied Materials Surge 5%, While Buffett’s New DaVita Jumps 2.3% After Earnings
Shares of Applied Materials Inc. (NASDAQ:AMAT) surged more than 5 percent in late trading. The company reported fiscal first quarter adjusted earnings of 18 cents per share, while analysts had only expected 12 cents per share.
Nordstrom Inc. (NYSE:JWN) shares declined 1.6 percent in extended trading after reporting its fourth quarter results. Profit for the company increased to $236 million ($1.11 per share), compared to $232 million ($1.04 per share).
Investor Insight: Streaming Content Wars Heat Up
DaVita Inc. (NYSE:DVA) jumped 2.3 percent after the closing bell. Fourth quarter income for the company more than doubled to $148 million ($1.56 per share). Revenue also climbed to $1.86 billion from $1.64 billion. Earlier this week, Warren Buffett’s Berkshire Hathaway (NYSE:BRKB) disclosed a new position in the medical company.
After closing 10.3 percent higher on Thursday, shares of Leap Wireless International Inc. (NASDAQ:LEAP) fell more than 2 percent in late trading. The company reported a fourth quarter loss of $84.4 million, an improvement though from last year’s $249.4 million loss. “We had solid performance in the fourth quarter and are pleased with the operational progress the business has made,” said Doug Hutcheson, Leap’s president and chief executive officer.
Shares of Frontier Communications Corp. (NYSE:FTR) dropped 3.6 percent in extended trading. Net income for the fourth quarter decreased to $42.2 million (4 cents per share), compared to $46 million (5 cents per share) a year earlier. Revenue also decreased 5.6 percent to $1.28 billion. “Fourth quarter 2011 demonstrated the strongest quarterly revenue and EBITDA margin performance since our Verizon (NYSE:VZ) acquisition” said Maggie Wilderotter, Chairman & CEO of Frontier Communications. “We also finished a successful four state conversion, started the prep work for the additional nine states to convert in March 2012, and delivered annualized synergies of $552 million enabling us to increase our guidance for 2012 to $650 million.”
Don’t Miss: Google’s Reputation Takes Another Hit
Baidu Inc. (NASDAQ:BIDU) shares jumped 2 percent after reporting a 77 percent rise in profits. Fourth quarter profits totaled $326 million, while revenue surged 83 percent. Shares of Google Inc. (NASDAQ:GOOG) edged slightly lower in late trading.