Radar Movers: Rackspace and Priceline.com Climb Higher After Strong Results
Shares of Lions Gate Entertainment (NYSE:LGF) jumped more than 2 percent in late afternoon hours. The company reported first-quarter revenue of $569.7 million, up 21 percent from $471.8 million a year earlier. “We’re pleased with our first quarter results, with particularly strong contributions from our diversified television slate, packaged and digital media and our robust international performance,” said Lionsgate CEO Jon Feltheimer.
Rackspace Hosting (NYSE:RAX) shares surged 10.5 percent in late afternoon trading. For the second quarter, net revenue gained 18 percent year-over-year to $376 million. Meanwhile, net income came in at $22 million. Analysts expected revenue of $372.2 million.
Priceline.com (NASDAQ:PCLN) shares increased 5 percent in late afternoon trading. The online-travel company reported that revenue surged 26 percent in the second quarter to $1.68 billion, compared to $1.33 billion a year earlier. Earnings came in at $9.70 per share, easily topping analysts’ estimates for $9.36 per share. Orbitz Worldwide (NYSE:OWW) shares also gained 1.4 percent on the news.
Shares of Apple (NASDAQ:AAPL) edged slightly lower in late afternoon hours. Using newly available iTunes information, Apple analyst Horace Dediu at Asymco offered his observations and estimates about Apple’s lucrative online digital media store. Although the “total quarterly revenue of $4 billion from iTunes software and services” was slightly less than last quarter, Dediu said in a note that this quarter is still the “second highest after $4.1 billion last quarter.”
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