Tech: Take-Two Jumps On Solid Earnings (TTWO, STX, PC, JDSU, CVG, BIDU)
Take-Two Interactive SoftwareInc (NASDAQ:TTWO)increased 6.63% to $11.43 after the Company released second quarter results. The GAAP net revenue was $273.1 million compared to $107.0 million in the prior year period. GAAP net loss from continuing operations was $12.4 million or $0.15 per diluted share compared to $47.3 million or $0.57 per diluted share in the previous ear quarter. The increase in net revenue in the second quarter was due to Borderlands 2 and catalog sales led by Grand Theft Auto IV and Red Dead Redemption.
Seagate Technology PLC(NASDAQ:STX)declined 2.74% to $27.22after the Company posted first quarter results.Net income was $582 million or $1.42 per share compared to $140 million or $0.32 per share in the same quarter last year.Revenues were $3.73 billion compared to $2.81 billion in the prior year quarter. However, analysts estimated revenues of $3.75 billion for the quarter.
The board has approved a quarterly cash dividend of $0.32 per share, payable on November 29, 2012 to shareholders.
Panasonic Corporation (ADR)(NYSE:PC) decreased 8.01% to $5.63 after the Company released second quarter results. Consolidated group sales decreased 12% to 1,823.7 billion yen due to sales decrease in digital products under severe global competition as well as weak Japanese markets for flat-panel TVs and global note PCs. Net loss was 698.0 billion yen compared with loss of 105.8 billion yen in the prior year period as a result of the increase in valuation allowances to deferred tax assets.
JDS Uniphase Corp(NASDAQ:JDSU) slipped 4.65% to $9.85 after the Company announced first quarter results. The net loss was $11.6 million or $0.05 per share compared to $5.8 million or $0.03 per share in the prioryear quarter. However, analysts expected earnings of $0.12 per share for the first quarter.Net revenue for the quarter increased 1.2% to $420.9 million.Operating margin for the quarter contracted 130 basis points to breakeven.
Convergys Corporation(NYSE:CVG)surged up 3.46% to $16.73after the Company reported third quarter results. Total revenue from continuing operations was $508 million compared to$493 million in the prior quarter last year. Operating income from continuing operations increased 14% to $39 million. EBITDA was $61 million compared to$56 million adjusted EBITDA in the previous yearperiod. Net income from continuing operations was $30 million or $0.26 per diluted share compared to adjusted net income of $23 million or $0.19 per diluted share in the same period last year.
Baidu.com Inc (ADR)(NASDAQ:BIDU)moved down 3.65% to $109.90 after the Company announced third quarter results. The net income attributable was RMB 3.008 billion compared to RMB 1.881 billion in the prior year quarter.Earnings per ADS for the third quarter was RMB 8.59 or $1.37compared to RMB 5.38 in the prior year period.Total revenues for the quarter rose 49.7% to RMB 6.25 billion. However, analysts had consensus revenue estimate of $1.00 billion for the quarter.