Nokia Corporation Falls Another 4% (NOK, RAD, MTOX, FAST)
Nokia Corporation (ADR) (NYSE:NOK) extending its losses in the pre-market session and fell 4.25% to $4.06 after plunging over 15% in the prior session as the company said that its phone business would post losses in the first two quarters this year, as the company struggles to revamp its product line to compete with rivals such as Apple and Samsung. The company faces intense competition, particularly in India, the Middle East, Africa and China.
The company expects first-quarter2012 non-IFRS Devices & Services operating margin to be about negative 3%. The company also projects first-quarter 2012 Devices & Services net sales of4.2 billion euros, comprised of Mobile Phones net sales of 2.3 billion euros.
Rite Aid Corporation (NYSE:RAD) fell 0.59% to $1.69 in the pre-market session after the company posted a fourth-quarter net loss of $161.3 million or $0.18 per share, as compared to $205.69 million or $0.24 per share loss in the previous year. Revenues totalled $7.15 billion, as compared to $6.46 billion in the year ago period. Analysts expected loss per share of $0.14 on $6.98 billion revenue for the quarter.
Looking forward, the company expects fiscal 2012 sales to be between $25.85 billion and $26.0 billion, and Net loss is expected to be between $325 million and $440 million or a loss per diluted share of $0.37 to $0.50. Analysts are expecting the company to report revenue of $25.86 billion, net profit of $(379) million and EPS of $(0.43) for fiscal 2012.
MEDTOX Scientific, Inc. (NASDAQ:MTOX) shares gained 5.12% and closed at $17.85 in the previous trading session. The company’s first quarter total revenues increased 13.9% to $28.6 million. Net income was $1.5 million, as compared to $0.8 million, in the year ago period.
Additionally, the company’s board of directors has approved a special one-time cash dividend of $1.25 per share. The special dividend will be payable on December 1, 2010, to stockholders of record on November 22, 2010.
Fastenal Company (NASDAQ:FAST) shares fell 1.07% to $49.10 in the pre-market hour after the company misses first quarter EPS estimates.
The company posted first quarter net earnings of $100.19 million from $79.55 million in the same quarter a year earlier. Earnings per share improved to $0.34, as compared to $0.27 in the year-ago quarter. Sales climbed 20% to $768.88 million from $640.58 million last year. Analysts expected the company to report earnings of $0.35 per share on revenues of $768.56 million for the quarter.
Moreover, the company also opened 28 new stores during the first three months of 2012.