Earnings Announcements
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HONG KONG, May 24- Hong Kong shares are set to open flat on Friday, with PC maker Lenovo Group Ltd up 4 percent to be the top percentage gainer among Hang Seng Index components, extending gains after it reported a forecast-beating quarterly profit. The Hang Seng Index was set to open flat at 22,679.36.
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WEST FARGO, N.D.-- Titan Machinery Inc., an agricultural and construction equipment seller, said Thursday that it expects to post a loss for its fiscal first quarter on weaker revenue. Titan said it expects revenue of $440 million for the quarter, about $50 million less than it had anticipated.
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May 23- Salesforce.com Inc's quarterly earnings and outlook disappointed investors as costs rise following a spree of acquisitions, sending its shares lower.
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Ben Bernanke would never admit to it, but Cramer is convinced he’s worried about these two laggards.
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NEW YORK-- New York& Company Inc. posted a profit for its fiscal first quarter as the clothing company improved its pricing and merchandise selection. The company reported net income of $1.6 million, or 3 cents per share, for the quarter that ended May 4.
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SANTA CLARA, Calif.-- Chip maker Marvell Technology Group Ltd. said Thursday that its first-quarter net income fell sharply as revenue declined, but the results beat Wall Street's expectations. Excluding special items, Marvell earned 19 cents per share in the latest quarter.
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LYNNWOOD, Wash.-- Zumiez Inc. said Thursday that its net income fell 45 percent in the fiscal first quarter on greater costs related to its acquisition of sports retailer Blue Tomato. Zumiez sells surf- and skate-themed clothing, footwear, equipment and accessories.
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NEW YORK-- Teen clothing store chain Aeropostale Inc. posted a loss in the first quarter, reversing a year-ago profit, as sales declined. The New York- based company booked a loss of $12.2 million, or 16 cents per share, in the three months that ended on May 4.
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Clothing-store chain Gap delivered earnings and revenue that beat Wall Street expectations, an encouraging sign for the recovering retail sector.
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PLEASANTON, Calif.-- Ross Stores Inc.' s fiscal first-quarter revenue came in ahead of market expectations as consumers continued to show a desire for a deal. The Pleasanton, Calif., company's net income increased to $234.6 million, or $1.07 per share, for three months ended May 4, from $208.6 million, or 93 cents per share, in the 2012 first quarter.
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May 23- Gap Inc reported a higher first-quarter profit on Thursday, helped by a rise in same-store sales at its Old Navy and namesake chains, and growth in Asia. The company, which also owns Banana Republic, posted net income of $333 million, or 71 cents per share, for the quarter ended May 4, up 42.9 percent from $223 million, or 47 cents per share, a year earlier.
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The department-store chain saw its loss more than quadruple — a big miss compared to what analysts had expected. Revenue, however, beat. Shares fell sharply after-hours.
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Pandora hit its earnings target and delivered revenue and an outlook that topped expectations. Shares rose sharply after-hours.
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May 23- Salesforce.com posted fiscal first-quarter revenue of $893 million and a net loss of $67.7 million, or 12 cents a share, as demand for cloud-based business software grows despite a shaky economy.
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May 23- Gap Inc reported a higher first-quarter profit on Thursday, helped by a rise in same-store sales at its Old Navy and namesake chains, and growth in Asia.
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NEW YORK-- StealthGas Inc., a Greek ship owner serving the liquefied petroleum gas market, said Thursday that its first-quarter net income fell 12 percent as expenses rose, but revenue increased slightly, surpassing Wall Street's expectations. The company earned $6.5 million, or 31 cents per share, in the first three months of the year.
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ST. PAUL, Minn.-- Patterson Cos. net income rose 2 percent in the fourth quarter on improved sales of dental equipment and software, but sales in the medical unit slid and the company expects more of the same in the near term. However, within the rehabilitation supply and equipment unit, sales declined to $123.6 million from $130.0 million.
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NEW YORK-- The financial services company ING U.S. Inc. said Thursday that its first-quarter loss narrowed, helped by better results at its retirement and annuities businesses. ING U.S. is part of Dutch financial services provider ING Groep NV.
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YORK, Pa.-- The Bon-Ton Stores Inc. narrowed its fiscal first-quarter loss on fewer markdowns and improved revenue at its chain of department stores. The company posted a loss of $26.6 million, or $1.41 per share, for the quarter that ended May 4.
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NEW YORK-- Alkermes PLC said Thursday that it was profitable in its fiscal fourth quarter as it received bigger royalty payments and more revenue for drug manufacturing. Alkermes said it earned $3 million, or 2 cents per share, over the three months ended March 31.