Apple Beats Estimates, Aerospace Carries Northrop Grumman, and 3 More Hot Stocks

Apple Inc. (NASDAQ:AAPL): Third quarter earnings per share of $7.47 beat estimates by 15 cents, while revenue of $35.3 billion also beat estimates by $300 million. The company moved 31.2 million iPhones, which rose above estimates, while sales of 14.6 million iPads fell below estimates; the company sold 3.8 million Macs. Apple is expecting its fourth-quarter revenue to fall between $34 billion and $37 billion, somewhat below the $37.1 billion consensus. The Americas and Japan proved to be strong markets, while other Asian nations struggled.

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Northrop Grumman Corp. (NYSE:NOC): Second quarter EPS of $2.05 beat projections by 34 cents as revenue totaled $6.294 billion, beating estimates by $314 million. The firm’s operating margins rose 50 basis points while aerospace grew 9 percent on a revenue basis, electronic systems rose 2 percent, information systems fell 9 percent, and technical services dropped eight points. The aerospace unit saw gains helped in part by “higher volume for manned [and] unmmaned military aircraft.”

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VMWare Inc. (NYSE:VMW): VMWare is up 14 percent in early trading after the company’s second-quarter EPS of 79 cents beat by 2 cents, and revenue of $1.243 billion beat by $13 million. The company expects $1.27 billion to $1.3 billion in revenue for the third quarter versus the $1.28 billion consensus projection. Though it only saw a 2.6 percent gain in the recent quarter, license revenue growth is anticipated to be in excess of 9 percent to 13 percent for the third quarter, with 2013 license growth pegged at 6 percent to 10 percent.

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ARM Holdings (NASDAQ:ARMH): Second-quarter EPS of 5 cents fell in line with expectations, as adjusted pretax profit grew 30 percent for a total of 86.6 million pounds. Revenues also grew by a healthy 26 percent to 171.2 million pounds against the consensus of 165.1 million pounds. The company has also lifted its interim dividend by 26 percent and now stands at 2.1 pence per share.

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Spirit Airlines (NASDAQ:SAVE): Spirit Airlines posted second-quarter EPS of 63 cents, beating projections by 1 cent. However, revenues of $407.3 million fell $1 million shy of projections despite experiencing growth of 17.6 percent. Revenue per available seat mile slumped 2.8 percent to $0.1191, and the company noted that the calendar shift of Easter occurring in March this year, compared to in April in 2012, negatively impacted second-quarter 2013 results.

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