beat estimates and raised guidance after the close on Thursday, but investors sold the stock anyway.
Juniper’s earnings of 13 cents a share beat 11-cent estimates, and $375 million revenues topped analysts’ $370.4 million forecasts. Gross margins were 70%, in line with guidance.
The company predicted fourth-quarter earnings of 14 cents a share, a penny better than expected, and revenue guidance of $405-415 million bested $402.3 million forecasts.
But investors were looking for even better results from the networker, sending the stock 7% lower after hours.
Also after the close, Sun
beat expectations with a break-even quarter, but revenues came in a little lighter than expected. Netflix
beat estimates, but declined to provide guidance, saying it expects competition to become tougher, including possible competition from Amazon.com
beat estimates, Cree
reported mixed results, and CNET
, Photon Dynamics
and Fairchild Semi
Stocks fell sharply during the day on a GM
earnings miss, rising oil prices and worse than expected jobless claims and trade deficit reports. An investigation into the insurance industry accelerated the sell-off.
The Nasdaq lost 17 to 1903, the S&P 500 fell 10 to 1103, and the Dow tumbled 107 to 9894. Volume declined to 1.49 billion shares on the NYSE, and 1.6 billion on the Nasdaq. Decliners led 19-13 on the NYSE, and 21-9 on the Nasdaq. Downside volume was 70% on the NYSE, and 69% on the Nasdaq. New highs-new lows were 56-64 on the NYSE, and 46-59 on the Nasdaq.
soared 13% on blow-out results and guidance. Audible
jumped 16% on the news.
climbed 2% on better than expected results.
fell on lukewarm guidance.
plunged after missing estimates.
and Lam Research
slipped on their results, while Iona
gained 8% after beating estimates.