Qualcomm Inc. (NASDAQ:QCOM) is surging nearly 10% higher in late trading after reporting a 22% increase in earnings for its fiscal fourth quarter. The company reported net income of $1.06 billion (62 cents per share), compared to $865 million (53 cents per share) last year. Qualcomm also raised guidance due to the popularity of Apple’s (NASDAQ:AAPL) new iPhone 4S.
News Corp. (NASDAQ:NWS) is jumping 2.25% in extended trading after telling analysts Wednesday that home entertainment revenues are starting to stabilize, after slowing down in previous years. Competitors include Time Warner (NYSE:TWX) and Disney (NYSE:DIS).
Investing Insights: News Corp Earnings Cheat Sheet: Profit Slides Again.
Kraft (NYSE:KFT) is edging .40% higher in late trading. Net income for Kraft increased to $922 million (52 cents per share), compared to $754 million (43 cents per share) in the same quarter a year earlier. This marks a rise of 22.3% from the year earlier quarter. Competitors include include General Mills (NYSE:GIS) and Ralcorp (NYSE:RAH).
Whole Foods (NASDAQ:WFM) is sinking 4% as investors digest the company’s earnings release. The company posted a 31% increase in fiscal fourth quarter profit. The company also increased its dividend by 40%. Whole Foods typically beats estimates, but analysts were expecting better guidance from the company.
Shares of American Eagle (NYSE:AEO) are screaming 9% higher after raising the low end of its third quarter earnings outlook. Our third quarter results reflect stronger merchandise assortments and targeted promotions supported by strategic inventory investments,” Chief Executive Jim O’Donnell said.