Stocks Driving Lower After Earnings (PANL, CRM, DGIT)
Universal Display Corporation(NASDAQ:PANL) slumped 9.50% after the company surprised investors by posting loss in third quarter. The company said that it lost $1.2 million, or 3 cents a share, below a year ago loss of m $11.9 million, or 31 cents a share. However, analysts were targeting a profit of 4 cents a share. Revenue during the quarter jumped 31% year-over-year to $12.6 million, again missing analysts’ estimates of $16.4 million. Universal Display said it continues to see full year revenue of $90 million to $110 million. Street consensus is $104.7 million.
Universal has more than 1,000 patents for technologies and materials, which are vital for manufacturing organic light emitting device (OLED) panels used in smartphones and tablets.
salesforce.com, inc.(NYSE:CRM) is another stock which is showing heavy selling as the on cautious comments out of Macquarie and William Blair ahead of its quarterly results. William Blair says the company’s U.S. enterprise business is coming in below plan, while Macquarie notes a possible slowdown in activity in its SDFC business. Shares of CRM are down 8.50% to $136.21.
Digital Generation Inc(NASDAQ:DGIT) plunged 13.66% after the company said that earned $1.3 million, or $0.05 per diluted share, compared to $12.9 million, or $0.46 per diluted share, in the year earlier period.
Consolidated revenue for the three months ended March 31, 2012 increased 46% to $92.8 million, compared to $63.5 million in the same period of 2011.
Mr. Nguyen continued, “We began successfully rolling out innovative products to address the changing advertising landscape with the introduction of the first-ever dual screen video ad product, which has generated tremendous excitement across the global advertising industry. We also signed a deal to become a preferred technology provider to WPP’s global advertisers and at the start of Q2 expanded our online data offering with the strategic acquisition of Peer39. We look for this momentum to continue into the coming quarters as we introduce our online video solution leveraging the company’s technological resources, as well as additional data-driven products for online and TV,” concluded Mr. Nguyen.