These 4 companies reported earnings after the bell on Wednesday. Will these stocks break the Dow’s losing streak?
1) Salesforce.com Inc. (NYSE:CRM): The earnings report sent shares to the clouds, gaining over 8% in after hour trading. The company reported earnings of $457 million (31 cents per share) for the fourth quarter. Analysts were only expecting about 26 cents per share.
2) AIG (NYSE:AIG): One of the most famous bailout recipients finally has a profitable quarter after three losing quarters. The insurer giant reported net income of $11.2 billion ($16.60 per share) for the fourth quarter. This was an improvement over last year’s $8.87 billion loss. Shares are up 1% in late trading.
3) Gap Inc. (NYSE:GPS): The company reported a fourth quarter earnings beat. Net income was $365 million (60 cents per share), compared to only $352 (51 cents per share) a year earlier. The clothing retailer plans on opening 75 new franchises and 50 company owned stores overseas.
4) Applied Materials (NASDAQ:AMAT): The computer chip manufacturer reported a huge boost in net income. For the most recent quarter, net income increased to $506 million (38 cents per share). This was a huge improvement from last year’s $83 million (6 cents per share). Revenue also increased 45% to $2.69 billion. Investors don’t appear impressed, shares traded only .44% higher after the closing bell.
Disclosure: No positions