By Dow Jones Business News, October 23, 2013, 06:24:00 AM EDT
Among the companies with shares expected to actively trade in Wednesday's session are Broadcom Corp. ( BRCM ), Corning
Inc. ( GLW ), Panera Bread Co. ( PNRA ) and Apollo Group Inc. ( APOL ).
Broadcom's third-quarter profit rose 44% as the chip maker's margins and revenue increased, but it offered weak
revenue guidance for the current quarter. Shares were down 7.9% to $25 after hours as the company's fourth-quarter
revenue projection missed analyst expectations.
Corning said it will take control of a joint venture with Samsung Electronics Co.'s (005930.SE) business that makes
LCD glass in Korea and receive a $1.9 billion investment in a series of transactions to strengthen collaboration between
the two companies. Shares in after-hours trading jumped 26% to $19.35.
Panera's third-quarter profit jumped 17% as higher prices lifted same-store sales at company-owned stores, though the
amount of transactions recorded at those restaurants declined. Same-store sales growth at company-owned locations missed
Panera's July projection, and the company trimmed its outlook targets. Shares fell 3.8% to $156.30 in after-hours
Apollo Group's fiscal fourth-quarter profit tumbled 71% as the for-profit education company reported a double-digit
drop in enrollment at the University of Phoenix. But the company's shares jumped 16% to $24.28 in after-hours trading,
as results for the period easily topped Wall Street's expectations.
Cree Inc.'s ( CREE ) fiscal first-quarter profit grew 89% as the maker of LED lighting products and semiconductor
components posted higher revenue and margins. But shares dropped 15% after hours, to $63.34, after the company predicted
weaker-than-expected earnings for its second quarter.
Unisys Corp. ( UIS ) narrowed its loss in the third quarter as a decrease in costs partially offset a decline in
revenue. Shares of the company, which provides information-technology services and software for commercial and
government clients, fell 10% to $23.42 in after-hours trading as its earnings and revenue came in below analysts'
ACE Ltd.'s ( ACE ) third-quarter profit grew 43% as the global insurer benefited from a relatively benign quarter for
catastrophes, as well as better pricing in North America and revenue growth for all the firm's insurance businesses.
Altera Corp.'s ( ALTR ) third-quarter earnings dropped 24% as the chip maker's sales sagged across most of its markets.
Amarin Corp. PLC ( AMRN ) said it plans to eliminate about half of its staff positions world-wide as the biotechnology
company looks to reduce its operating expenses in the wake of a vote by the U.S. Food and Drug Administration advisory
committee against its supplemental new drug application for its cholesterol drug Vascepa.
Amgen Inc.'s ( AMGN ) third-quarter earnings rose 24% amid broad revenue growth across the biopharmaceutical company's
Cubist Pharmaceuticals Inc. ( CBST ) swung to a third-quarter loss as the biopharmaceutical company's results were stung
by acquisition costs and other expenses.
Datalink Corp.'s ( DTLK ) third-quarter profit dropped 57% as the provider of data-center infrastructure and services
reported weaker gross margins and higher sales and marketing expenses.
FMC Technologies Inc.'s ( FTI ) third-quarter profit rose 17% as the oil-equipment provider reported higher revenue,
though shares fell in after-hours trading Tuesday as results weren't as strong as analysts had expected.
Juniper Networks Inc.'s ( JNPR ) third-quarter profit jumped almost sixfold as the network-gear company recorded an
uptick in revenue and lower expenses.
Nabors Industries Ltd. ( NBR ) swung to a third-quarter loss as the oil-field services company posted debt-redemption
charges and asset write-downs.
Billionaire investor Carl Icahn sold more than half his stake in Netflix Inc. ( NFLX ) for nearly $1 billion in recent
days, he disclosed Tuesday, saying it was "time to take some chips off the table."
RF Micro Devices Inc. ( RFMD ) swung to a fiscal second-quarter profit as the wireless-chip maker recorded a surge in
Robert Half International Inc.'s ( RHI ) third-quarter profit rose 16% as the staffing-services firm posted revenue
growth driven by its technology and Protiviti segments.
STMicroelectronics NV's (STM, STM.MI, STM.FR) third-quarter loss narrowed as the company reported far fewer impairment
and restructuring charges than a year ago, though overall revenue fell on weakness at the wireless business.
Write to John Kell at email@example.com
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