After a 17 point loss Tuesday, The Dow (NYSE:DIA) rallied back Wednesday to close up 67 points. Gold (NYSE:GLD) and silver (NYSE:SLV) continue to shine as both increased, despite the dollar (NYSE:UUP) bouncing up.
These 4 companies released earnings Wednesday. Will these 4 stocks rise on their latest earnings release?
1) Red Hat (NYSE:RHT): Shares received a huge boost as the company released fourth quarter results after the bell. Shares rose over 10% in late trading. Sales also rose 25% to $244.8 million, and EPS came in at 26 cents per share. Analysts estimates were only expecting EPS of about 22 cents. CEO Jim Whitehurst said the company may reach $1 billion in sales for the next fiscal year. Software bellwether Oracle (NASDAQ:ORCL) reports today after the bell, so keep an eye open to see how it’s affecting Red Hat. Red Hat, Inc. develops and provides open source software and services, including the Red Hat Linux operating system. The Company’s Web site offers information and news about open source software and provides an online community of open source software users and developers.
2) Paychex, Inc. (NASDAQ:PAYX): The payroll processing company is not seeing much movement in its stock price after earnings release. Earnings of 36 cents per share beat estimates by only a penny. Wall Street was also not impressed with the company’s 5% revenue increase. Revenue increased to $531.3 million, compared to $507.8 million last year. ychex, Inc. provides comprehensive payroll and integrated human resource and employee benefits outsourcing solutions for small- to medium-sized businesses in the United States. The Company’s services range from calculating payroll and filing tax payments to administering retirement plans and workers’ compensation.
3) SAIC, Inc. (NYSE:SAI): EPS beat estimates by 7 cents, but shares only edged up .53% in late trading. The company reported fourth quarter EPS of 36 cents, and a 3.4% increase in year-over-year revenue to $2.77 billion. Fourth quarter results were helped by the company’s share repurchase program, and federal tax credits for research and development. SAIC, Inc. provides scientific, engineering, systems integration and technical services and solutions in such areas as national security, intelligence and homeland defense.
4) General Mills (NYSE:GIS): The company reported inline EPS of 56 cents. Net income for the fiscal third quarter rose 18%. Overall company revenue for the quarter rose 2% to $3.65 billion, falling short of $3.7 billion estimates. CEO Ken Powell believes rising product prices in the current quarter will give the company its ” highest earnings growth of the year.” General Mills, Inc. manufactures and markets branded and packaged consumer foods worldwide. The Company also supplies branded and unbranded food products to the foodservice and commercial baking industries.
After checking out these stocks, you may want to find out whether the commodities bull market is signaling a pause.
Disclosure: No positions