Yahoo! Inc. (YHOO: Quote) gained more than 1 percent to $20.55. The company's fourth quarter profit declined from the year-ago period. Meanwhile, the company's adjusted earnings improved from the same quarter a year earlier and were above Wall Street view. Revenues improved from the quarter and also topped the consensus estimate.
General Growth Properties Inc. (GGP: Quote) rose over 2 percent to $19.95. The company announced the purchase of warrants held by affiliates of The Blackstone Group and Fairholme Funds, Inc. for approximately $633 million. The company said it will fund the transactions using its available cash resources.
Sierra Wireless Inc. (SWIR: Quote) surged 9 percent to $10.00. The company agreed for the sale of substantially all assets and operations related to its AirCard business to NETGEAR, Inc. (NTGR) for $138 million in cash plus $6.5 million in assumed liabilities. The company is also exploring alternatives to return a portion of the proceeds to shareholders and will seek TSX approval to undertake a normal course issuer bid. Sierra Wireless expects fourth quarter 2012 results to be solidly in line with guidance provided on November 1, 2012.
VMware, Inc. (VMW: Quote) fell 14 percent to $84.50. The company's fourth quarter earnings improved from the same period previous year. Revenues for the quarter grew 22 percent. The company forecast first quarter revenues below the consensus estimate. The company also disclosed a plan to streamline its operations, including 900 jobcuts and a planned exit of certain lines of business and consolidation of facilities. The company expects total charge resulting from this plan to be between $90 million and $110 million.
EMC Corp. (EMC: Quote) declined nearly 5 percent to $24.00.
BMC Software Inc. (BMC: Quote) declined over 6 percent to $41.50. The company's third quarter profit declined from the prior year period and its adjusted earnings per share were below Wall Street view. Total revenues also missed the consensus estimate. The company noted that it saw lower-than-expected bookings from its MSM and ESM business units. The company also lowered its non-GAAP earnings per share guidance for fiscal 2013.
| || |
| To receive FREE breaking news email alerts for Yahoo! Inc. and others in your portfolio|
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org