Stocks Making Headlines (ABAX, EXPE, RSG, AONE)
Abaxis Inc (NASDAQ:ABAX) shares soared 11.77% to $33.33 after the company said that it earned 21 cents a share on revenue of $42.72 million in its fourth quarter, well above analysts’ estimates of 17 cents a share on revenue of $40.68 million. The stock made a new 52-week high of $33.60 earlier in the session.
Expedia Inc (NASDAQ:EXPE) shares jumped 27.38% to $41.56 after the company posted a much higher-than-anticipated first quarter adjusted profit and revenue. The company reported net loss of $3.3 million, or 2 cents a share, reversing a year ago profit of $52 million, or 37 cents a share. On an adjusted basis, the company would have earned 26 cents a share, ahead of analysts’ estimates by 9 cents.
Quarterly revenue grew 12% to $816.5 million, ahead of $790.9 million expected by analysts. “Overall it looks pretty strong,” Morningstar analyst Dan Su said, noting a rise in domestic and international bookings.
Republic Services, Inc. (NYSE:RSG) shares slumped 12.405 after the company posted a lower than estimated first quarter earnings, prompting the company to lower its full year outlook. The company earned $142.9 million or $0.38 per share, down from a year ago profit of $158.2 million or $0.41 per share. On an adjusted basis, the company earned 38 cents, missing analysts’ forecast by 4 cents. Revenue during the quarter rose less than 1% to $1.98 billion from $1.96 billion a year earlier. The company lowered its full year 2012 adjusted earnings per share guidance to a range of $1.86 to $1.90 from its previous guidance of $1.98 to $2.02 per share.
Republic also declared a regular quarterly dividend of $0.22 per share, payable on July 16 to shareholders of record on July 2.
A123 Systems, Inc. (NASDAQ:AONE) shares soared 16.66% to $1.12 after the company said that its lithium-ion battery will be featured in the Army’s new tactical hybrid vehicle, called the FED Bravo, which is likely to be the next-generation of light tactical vehicles for the armed forces.