5 Super Hot Stocks: Bed Bath & Beyond Falls 4%, Amazon Creates 1,000 Jobs and Yahoo Jumps 2%
Bed Bath & Beyond (NASDAQ:BBBY) shares fell more than 4 percent after releasing third quarter results. The company reported a profit of $228.5 million (95 cents per share), compared to $188.6 million (74 cents) last year.
Investing Insights: Bed Bath & Beyond Inc. Earnings Cheat Sheet: Double-Digit Growth Again.
Shares of Micron Technology Inc. (NASDAQ:MU) are bouncing 2.15 percent higher in early trading. The company announced a 7 percent drop in revenue, when compared to last year. Furthermore, weak memory pricing caused a decrease in gross margins.
Investing Insights: Micron Technology Inc. Earnings Cheat Sheet: Margins Keep Shrinking.
Amazon.com Inc. (NASDAQ:AMZN) is edging higher this morning after announcing plans to open two new fulfillment centers in Virginia. “The company will invest $85 million and create more than 1,000 jobs in Chesterfield County, and invest $50 million in Dinwiddie County, creating more than 350 jobs,” the state’s governor, Bob McDonnell, said in a joint press release with Amazon. Tech competitors such as Apple (NASDAQ:AAPL) and Google (NASDAQ:GOOG) are also edging higher.
Shares of Akamai Technologies Inc. (NASDAQ:AKAM) are surging more than 9 percent after the opening bell. The company said on Thursday it will purchase Cotendo Inc. for $268 million, and expects to complete the deal in the first half of 2012.
Yahoo! Inc. (NASDAQ:YHOO) shares are increasing nearly 2 percent. After Wednesday’s closing bell, the WSJ reported that the internet portal king is discussing a plan to reduce its Alibabe Group Holding stake to about 15 percent, and dispose of its Yahoo Japan holdings. The transaction is expected to be valued at $17-$18 billion. Internet portal competitor AOL, Inc. (NYSE:AOL) is also trading higher.