Can CBS and Navistar Lift Stocks Tomorrow?
CBS Corp. (NYSE:CBS): The mass media company is spiking higher in after hours trades, up 0.84% at last check on an upbeat second quarter earnings report. Profits more than doubled on strong increases in licensing and advertising revenues, leading earnings to $395 million, or 58 cents a share, compared with a profit of $150 million, or 22 cents a share in a year-ago period that included items. Revenue was up 8% to $3.59 billion. Analysts were expecting a profit of 45 cents a share on sales of $3.55 billion, both marks were surpassed by CBS.
Apollo Group (NASDAQ:APOL): The online education provider is trading up 0.69% in after hours moves after announcing that it plans to purchase Carnegie Learning, a provider of online study programs, for $75 million. The company will also buy related technologies from Carnegie Mellon University for $21.5 million, payable over 10 years.
Navistar International (NYSE:NAV): The stock is getting a big bump in after hours exchanges, up 2.20% after the closing bell on news that it will close a truck manufacturing plant in Chatham, Ontario, after it was not successful in reaching a deal with the Canadian Auto Workers union. The company is a manufacturer of International brand commercial and military trucks, Buses, and engines. In a separate announcement, the company said it plans to scale back operations in its Coburg, Ore. plant, and will close its Union City, Ind. plant. A total of over 700 workers could be laid off.
MetroPCS Communications (NYSE:PCS): The stock was absolutely shelled in trading on Tuesday, dropping over 36% to land in the dubious position of the top decliner on the S&P 500. The company reported a second-quarter profit of $84 million, or 23 cents a share. Revenue rose 19% to $1.21 billion. Analysts had expected earnings of 28 cents a share, on revenue of $1.23 billion. The company reported net subscriber additions of 198,810, which was lower than the consensus estimate of 224,000. PCS has bounced back slightly in after hours trades, gaining 0.88%. Keep your eyes on the rest of the telecom sector: Leap Wireless Intl., Inc. (NASDAQ:LEAP), Verizon Communications Inc. (NYSE:VZ), Sprint Nextel Corporation (NYSE:S), AT&T Inc. (NYSE:T), and Clearwire Corporation (NASDAQ:CLWR).