Daktronics, Inc. (DAKT: Quote) is rising 13 percent to $9.13. The company's first quarter profit surged from the previous year period. Sales soared from the same period last year and were above the consensus estimate.
Dex One Corp. (DEXO: Quote) is jumping 21 percent to $1.50. SuperMedia Inc. (SPMD) is up 12 percent to $2.89. The companies have agreed to combine in a stock-for-stock merger of equals. Dex One's Chairman of the board Alan Schultz will be chairman of the combined company, while the president and CEO of SuperMedia, Peter McDonald, will become CEO.
Urban Outfitters, Inc. (URBN: Quote), Nordson Corp. (NDSN: Quote) are rising following the release of their quarterly results.
Best Buy Co. Inc. (BBY: Quote) is falling 9 percent to $16.47. The company's second quarter profit plunged from the year-ago period. Revenue declined from the prior year period. The company also lowered its annual earnings expectations, due to lowered expectations for industry wide sales and the uncertainty associated with several key product launches expected in the second half of fiscal 2013. In addition, the company does not intend to further provide or update earnings guidance for fiscal 2013.
Medtronic, Inc. (MDT: Quote) is falling 2 percent to $40.70. The company's first quarter earnings increased from the year-ago quarter and its non-GAAP earnings per share matched Wall Street view. Medtronic reiterated its fiscal 2013 earnings per share guidance.
Tech Data Corp. (TECD: Quote) is down 8 percent to $47.99. The company's second quarter earnings declined from the prior year period and were below Wall Street view. Net sales fell 8 percent and missed the consensus estimate. Net sales in the Americas dropped 11 percent and European sales fell 5 percent. The company said that it is confident that its post-implementation efforts will return it to improved levels of profitability over the next couple of quarters.
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by RTT Staff Writer
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