Baidu, Inc. (BIDU: Quote) gained over 6 percent to $114.01. The company's second quarter earnings and revenues surged from the previous year period. The company projects its third quarter revenues to increased 49.6 percent to 53.5 percent year-over-year.
Sanmina-SCI Corp. (SANM: Quote) gained 12 percent to $8.05. The company's third quarter profit declined from the same period prior year and its non-GAAP earnings per share were below analysts' projection. The company noted that weak demand in the components business negatively impacted profitability. Revenue declined from the year-ago quarter, but were above the consensus estimate. The company expects modest revenue growth and margin expansion in the fourth quarter, based on new projects and forecasts from its strategic customers.
VMware, Inc. (VMW: Quote) fell over 2 percent to $87.10. The company's second quarter profit declined from the year-ago quarter, although its non-GAAP earnings per share were above Wall Street view. Total revenues for the quarter rose 22 percent and were in-line with the consensus estimate. The company also announced it has agreed to acquire Nicira, Inc. for about $1.05 billion in cash plus approximately $210 million of assumed unvested equity awards.
Texas Instruments Inc. (TXN: Quote) decreased 1 percent to $26.55. The company's second quarter profit and revenues declined from the previous year quarter. The company currently estimates its revenue in the third quarter to be about even with last quarter and below its seasonal average growth rate.
DeVry, Inc. (DV: Quote) declined over 20 percent to $21.90. The company expects its fourth quarter revenue and earnings per share to sharply decline from the previous year period and also below Wall Street view. The company noted that several factors impacted its fourth quarter expectations, including shortfall in revenue from the increased use of scholarships awarded to students in DeVry University's May and July classes and higher than anticipated operating costs in the quarter. Further, the company expects new enrollments for the summer term at DeVry University to decrease 15 to 17 percent compared to last year's term. DeVry said it is eliminating approximately 570 positions across its institutions.
Elan Corporation, plc (ELN: Quote) declined over 13 percent to $11.64.
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by RTT Staff Writer
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