Stocks in Focus (AAPL, GS, EBAY, IBM, CREE, WFC, USB, XLNX)
The companies which are expected to see active trade on Wednesday are Apple, Goldman Sachs, eBay, IBM, Cree, Wells Fargo, U.S. Bancorp and Xilinx.
Apple Inc. (NASDAQ:AAPL) shares advanced 1.25 percent to $344.90 in aftermarket trading session on Tuesday following better-than-expected first-quarter earnings.
The technology giant posted $6 billion in profit, or $6.43 per share with revenue hitting $26.74 billion, above the most optimistic Wall Street estimates of about $25 billion. For the same quarter last year, Apple posted $15.68 billion in revenue and net quarterly profit of $3.38 billion, or $3.67 per share.
Goldman Sachs Group Inc. (NYSE:GS) shares advanced 0.18 percent in aftermarket trading session on Tuesday. The company is expected to post fourth quarter net income of $3.76 per share compared to $8.20 per share in the same quarter last year.
eBay Inc. (NASDAQ:EBAY) is expected to report fourth quarter net income of $0.47 per share compared to $0.44 per share in the year ago quarter.
International Business Machines Corp. (NYSE:IBM) shares advanced 2.88 percent o $154.99 in aftermarket trading following better-than-expected fourth quarter earnings. Its fourth quarter net income rose to $5.3 billion or $4.18 per share, up from $4.8 billion or $3.59 per share in the same quarter last year.
Cree, Inc. (NASDAQ:CREE) shares plunged 15.48 percent to $53.00 in aftermarket trading session as its second quarter earnings and third-quarter profit forecast fell short of analysts’ estimation.
Cree’s second-quarter profit climbed 47 percent from a year earlier, while on an adjusted basis revenues missed analysts estimates mainly hurt by lower sales to LED component distributors in Asia. The company forecasts third-quarter profit of 38 cents a share against analysts’ expectation of 58 cents a share.
Wells Fargo & Co. (NYSE:WFC) is expected to post fourth quarter net income of $0.61 per share compared to $0.08 per share in the same period a year ago.
U.S. Bancorp (NYSE:USB) is likely to post fourth quarter net income of $0.46 per share compared to $0.08 per share in the same quarter last year.
Xilinx Inc. (NASDAQ:XLNX) is expected to report third quarter net income of $0.52 per share compared to $0.38 per share in the year ago quarter.
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