Can These 4 Stocks Rise Above the Volatility After Earnings?
Thursday was a rally day for the markets. The Dow (NYSE:DIA) gained 161 points after its 242 point loss on Wednesday. Silver (NYSE:SLV) and gold (NYSE:GLD) had up days, and oil (NYSE:USO) closed back above $100. In late trading, oil is trading above $103 per barrel as the U.N. Security Council approves a no-fly zone in Libya.
Aside from all the turmoil and volatility (NYSE:VXX) in the markets, these 4 companies reported earnings after the close. Should you buy or sell these stocks after their latest earnings report?
1) Nike (NYSE:NKE): Shares are down over 5% in late trading as the world’s largest sportswear supplier released quarterly earnings. Although revenue increased 7.3% to $5.1 billion, EPS of $1.08 missed estimates by 4 cents. It wasn’t all a disappointment, the company said sales for the upcoming season are up 11%. Investors should keep an eye on margins with rising costs at the company. It’s also important to note that Warren Buffett sold his entire Nike position last quarter. Is there more trouble ahead for Nike?
2) LDK Solar Co. (NYSE:LDK): The company reported strong fourth quarter earnings of $1.09 per share, topping estimates by 17 cents. Revenue for the quarter was $921 million, which is a 36% increase from last year. Although shares were up 4.95% during regular market hours, shares fell 2.56% in late trading as the company maintained its outlook for 2011.
3) Shoe Carnival (NASDAQ:SCVL): Shares are performing well in late trading after the company released fourth quarter results. Revenue for the quarter increased 5.3% from last year to $179.9 million. Net earnings hit the ground running and increased 70% to $4.4 million (33 cents per share).
4) New York & Company (NYSE:NWY): This woman’s speciality retailer is seeing shares jump 4% in late trading. Revenue for the fourth quarter increased to $303.2 million, compared to $298 million last year. Comparable store sales told perhaps the biggest turnaround. Comparable store sales for the fourth quarter increased 1.7%, compared to a very unfashionable 7.7% decrease in last year’s fourth quarter.
Disclosure: No positions