Stocks to Watch: QCOM, AXP & More
Track companies making headlines after-the-bell Wednesday:
Qualcomm - The wireless telecommunication company posted quarterly results that beat estimates, but the firm handed in tepid guidancefor the current quarter. Qualcomm reported a profit of $1.01 a share, excluding one-time items, on revenue of $4.94 billion, topping expectations of 96 cents a share on earnings and sales of $4.84 billion.
Qualcomm said it is being affected by the tight supply of TSMC's 28-nanometer chips, key for high-end smartphones. Qualcomm added it won't see improvement until the December quarter.
Interestingly, Nvidia is also known to use the same product and will also likely be affected by the shortage.
Other tech shares including Broadcom , Texas Instruments and Nokia continued to decline in after-hours trading.
American Express - The charge-card provider beat earnings and revenue expectations. AmEx posted a profit of $1.07 a share on revenue of $7.6 billion, outpacing estimates of $1.00 a share on earnings and sales of $7.57 billion.
Yum Brands - Results of the parent company of KFC and Pizza Hut also topped expectations. The company posted earnings of 76 cents a share versus an estimate of 73 cents a share, and revenue of $2.74 billion, slightly topping expectations for $2.70 billion. Still, Yum said sales at existing chains in China grew at a slower pace than expected.
Ebay - The online auction and shopping website also beat Wall Street estimates. The firm reported earnings of 55 cents a share versus an estimate of 52 cents a share, and revenue of $3.28 billion, exceeding estimates for $3.15 billion.
Marriott International - The hotel-chain operator reported a higher profit, thanks to an increase in room revenue from corporate travel.
F5 Networks - The tech company's results topped estimates, but handed in a slightly cautious outlook.
VMWare - The virtual software maker reported quarterly results that beat Wall Street expectations and also boosted its full-year outlook.
Stanley Black & Decker - The toolmaker's earnings missed Wall Street expectations, due to higher cost ($1.09 EPS vs. $1.13 Estimate). Revenue was also light ($2.65 billion vs. $2.64 billion Estimate)
Mellanox - The communication equipment maker posted record quarterly results. The firm's rating was increased to "outperform" at Pacific Crest on Tuesday.
- Track After-Hour Quotes for All Companies Mentioned Above
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