Take a look at some of Tuesday's morning movers:
Fossil - The maker of fashion accessories earned $0.93 per share for the first quarter, one cent above estimates, but revenues of about $590 million came in short of the $618 million consensus. It's also cutting its full-year outlook on weaker-than-expected European sales.
Wendy's - The restaurant operator
McDonald's - The fast-food giant's global
Discovery Communications - The cable channel operator earned $0.57 per share for its latest quarter, three cents below estimates. Losses at the Oprah Winfrey Network were a key factor in pushing the company's earnings below consensus. However, Discovery did raise its full year revenue forecast.
OfficeMax - The office products retailer earned $0.23 per share for the first quarter, excluding certain items, versus estimates of $0.16. The company's bottom line was boosted by cost cutting, with sales up just 0.5 percent.
American International Group - The U.S. Treasury's latest
Electronic Arts - The nation’s biggest maker of video games did
Wynn Resorts - The company fell short for the first quarter, reporting profit of $1.33 per share versus estimates of $1.41. The casino operator did see a sizable jump in revenue from Macau, but Wynn kept a smaller portion of revenue from its Las Vegas table games during the quarter.
Rackspace Hosting - Rackspace earned $0.17 per share for its first quarter, a penny below estimates. The provider of data hosting services saw its bottom line impacted by a rise in expenses, as the company expanded its workforce and its data centers.
Dendreon - Sales of the drugmaker's Provenge prostate cancer vaccine rose 6.5 percent in the first quarter over the prior quarter, and the company predicted low single-digit growth for the second quarter. Analysts are concerned over the level of sales growth and that profit margins for the company’s only approved product aren’t high enough.
Churchill Downs - The home of the Kentucky Derby earned $0.08 per share for the first quarter, versus analyst forecasts for a loss of $0.11. The race track operator says 20 percent revenue growth in its online business segment was responsible for much of its growth over the prior year.
Pitney Bowes - The company reported first-quarter profit of $0.52 per share, excluding certain items, two cents above estimates. It’s also raising its 2012 forecast to $2.22 to $2.42 per share from its prior guidance of $2.05 to $2.25 per share. The document services company continues to report falling revenue, but tax benefits are helping its bottom line.
Yahoo – CEO Scott Thompson has apologized to employees for controversy surrounding his resume, while Yahoo’s board met late Monday afternoon to discuss the growing controversy.
Sprint Nextel – The Ontario Teachers’ Pension Plan plans to vote against the re-election of Chief Executive Officer Dan Hesse to the Sprint board, saying it’s doing so because of poor linkages between performance and pay. The pension plan holds an approximately four percent stake in Sprint.
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