AI
Wednesday, January 09, 2013 11:06:07 PM
new quarter ER kick off:
Alcoa (AA 9.30, +0.20) kicked off the fourth quarter earnings season with an upbeat report. The aluminum producer reported in-line earnings, but its revenue of $5.9 billion was ahead of the Capital IQ consensus estimate. In addition, Alcoa expects global aluminum demand growth of 7.0% after observing a rate of 6.0% in 2012.
Seagate (STX 32.45, +1.06) is adding 3.4% after raising its second quarter revenue guidance above analyst estimates. Peer Western Digital (WDC 42.60, +0.62) is adding 1.5%.
Apollo Group (APOL 19.38, -1.56) is down 7.5%. The for-profit education provider beat on earnings and revenue, but the company disappointed the market by lowering its full-year 2013 revenue guidance below consensus.
Clearwire (CLWR 3.15, +0.23) is higher by 7.9% after DISH Network (DISH 36.08, +0.11) submitted an offer to acquire Clearwire for $3.30 per share. Note that Sprint Nextel (S 5.85, -0.12) has previously offered $2.97 per share to Clearwire stockholders.
Mover of the day
Alcoa (AA 9.30, +0.20) kicked off the fourth quarter earnings season with an upbeat report. The aluminum producer reported in-line earnings, but its revenue of $5.9 billion was ahead of the Capital IQ consensus estimate. In addition, Alcoa expects global aluminum demand growth of 7.0% after observing a rate of 6.0% in 2012.
Seagate (STX 32.45, +1.06) is adding 3.4% after raising its second quarter revenue guidance above analyst estimates. Peer Western Digital (WDC 42.60, +0.62) is adding 1.5%.
Apollo Group (APOL 19.38, -1.56) is down 7.5%. The for-profit education provider beat on earnings and revenue, but the company disappointed the market by lowering its full-year 2013 revenue guidance below consensus.
Clearwire (CLWR 3.15, +0.23) is higher by 7.9% after DISH Network (DISH 36.08, +0.11) submitted an offer to acquire Clearwire for $3.30 per share. Note that Sprint Nextel (S 5.85, -0.12) has previously offered $2.97 per share to Clearwire stockholders.
Mover of the day
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