Shares of Netflix Inc. (NASDAQ:NFLX) surged more than 13 percent in late market trading. The company reported net income of $40.7 billion (73 cents per share), which beat estimates of 55 cents per share. Shares of Google (NASDAQ:GOOG) and DISH Network Corp. (NASDAQ:DISH) traded lower on the news.
SanDisk Corp. (NASDAQ:SNDK) shares dropped 8 percent after the closing bell. The company reported disappointing fourth quarter results. Net income decreased 42.1 percent to $281.2 million. Shares of rival firm Western Digital Corp. (NYSE:WDC) also fell after the report.
Investor Insight: Should Apple Buy Gold?
ETrade Financial Corp. (NASDAQ:ETFC) traded 2.25 percent lower in extended trading. The online broker reported a loss of $6.3 million (2 cents per share) for the fourth quarter. “While there were unique items impacting our results in the quarter, our return to full year profitability in 2011, for the first time in five years, marks significant progress for the company,” said Steven Freiberg, Chief Executive Officer. Shares of TD Ameritrade (NASDAQ:AMTD) climbed slightly higher, while Charles Schwab Corp. (NYSE:SCHW) traded flat.
Stanley Black & Decker Inc. (NYSE:SWK) shares fell .82 percent, despite reporting solid financial results. Net income increased 20 percent to $165.3 million (99 cents per share), compared to $137.8 million (81 cents per share) in the same quarter a year earlier. Competitors such as Home Depot Inc. (NYSE:HD) and Lowe’s Companies Inc. (NYSE:LOW) also traded lower.
To contact the reporter on this story: Eric McWhinnie at email@example.com
To contact the editor responsible for this story: Damien Hoffman at firstname.lastname@example.org