Why Are These 4 Stocks Moving After Earnings?
1) Marriott International (NYSE:MAR): Shares climbed 4.63% after net income rose to $173 million (46 cents per share), compared to only $106 million (28 cents per share) last year. The company also announced plans to spin off its timeshare division.
2) Arch Capital (NASDAQ:ACGL): The insurance and reinsurance company reported that net income for the fourth quarter was $227.7 million ($4.54 per share). This was a decrease compared to last year’s $284.7 million ($4.75 per share). The company lost $22.5 million due to the Australian floods in the fourth quarter.
3) MGM Resorts International (NYSE:MGM): After shares dropped 3.2% during regular market hours on Monday, shares started to stabilize after the closing bell. The casino resort reported a $139 million loss (29 cents per share) for the fourth quarter. Surprisingly, this was an improvement to last year’s whopping $433.9 million (98 cents per share) loss.
4) Perry Ellis International (NASDAQ:PERY): After gaining 1% on Monday, shares climbed another 5.87% after the bell. For the fourth quarter, the company reported a net profit of 64 cents per share. The company expects fiscal 2011 revenue to be about $790 million, which is an increase of 5% over prior year’s revenue.
Disclosure: No positions
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