Shares of Avago Technologies Ltd AVGO were trading up more than 6 percent on Wednesday’s after-hours session, following the announcement of the company’s fourth quarter financial results. The semiconductor devices maker reported earnings of $2.51 per share, above the Street’s consensus estimate of $2.38 per share on revenue of $1.853 billion, in line with experts’ projections and management’s guidance.
American Eagle Outfitters AEO was also up, about 3 percent, on its earnings call. The small cap apparel retailer retrieved earnings of $0.35 per share, above the Street’s consensus of $0.34 per share and guidance, which called for EPS in the $0.28 to $0.31 range. However, revenue of $919.07 million fell short of expectations for $929.82 million.
Interestingly, management assured its holiday season sales were “off to a solid start,” adding that they were optimistic about the future. In addition, the company made interim Chief Executive Officer Jay Schottenstein its permanent CEO.
Another stock surging on its earnings report was Aeropostale Inc ARO, which gained more than 9 percent since the bell rang. The nano cap specialty retailer retrieved a net loss of ($0.31) per share on revenue of $363.33 million. The Street was expecting a larger loss, of ($0.35) per share; however, they also anticipated higher sales, at $388.56 million.
Other gainers of the afternoon were:
- New York & Company, Inc. NWY, up about 14.5 percent
- Photronics, Inc. PLAB, up more than 5.8 percent
- Five Star Quality Care, Inc. FVE, up almost 9 percent
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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