DOW JONES NEWSWIRES
Below is a synopsis of major earnings releases from Tuesday afternoon:
Yahoo Earnings Surge, Walloping Estimates
Yahoo Inc.'s (YHOO) third-quarter earnings more than tripled despite a double-digit percentage revenue decline, as the company reported fewer charges. Shares rose 2.3% after-hours to $17.57 as profit smashed analysts' expectations.
Sallie Mae Posts Bigger-Than-Expected Profit
SLM Corp. (SLM) swung to a profit in the third quarter as interest-rate spreads returned to more normal levels. Chief Executive Albert L. Lord said the student-loan company expects "credit quality to improve earnings in subsequent periods." Shares surged 6.2% to $9.45 after-hours.
Gilead Income Jumps 36% Amid Sales Gains
Gilead Sciences Inc.'s (GILD) third-quarter profit soared 36% on sales growth in all its product lines as results beat analysts' expectations. But shares still fell 2.4% in late trading to $44.99.
SanDisk Returns To Black On Product, Margin Rebound
SanDisk Corp. (SNDK) swung to a profit in the third quarter on surprisingly strong product sales and margins. Shares jumped 8.8% to $23.23 in late trading as the flash-memory maker said "improving industry fundamentals" are likely to mean more growth in the fourth quarter and next year.
Stryker Income Down 16% On Restructuring Costs
Stryker Corp.'s (SYK) earnings fell 16% in the third quarter on restructuring charges while revenue was flat. The medical-device maker also shaved the top half of its 2009 guidance, but its stock rose 3.6% after-hours to $46.91.
Seagate Has First Profit In Year As Margin Climb
Seagate Technology Inc. (STX) posted its first profit in a year as its fiscal first-quarter earnings tripled on higher margins. The computer disk-drive maker also forecast revenue this quarter generally higher than Wall Street expected. Shares fell about 1%.
Cree Beats Estimates, Sees Current Quarter Above Views
Cree Inc.'s (CREE) fiscal first-quarter profit more than tripled on surging margins and revenue as the semiconductor and light-emitting-diode company easily topped estimates. The company also projected fiscal second-quarter results above analysts' estimates. Shares were flat.
NuVasive Posts Profit On Fewer Charges, Revenue Gains
NuVasive Inc. (NUVA) swung to third-quarter profit as the medical-device company posted surging revenue and fewer charges. The company also again boosted its 2009 guidance, but its stock fell about 1% in late-trading.
C.H. Robinson Income Up 2% Despite Still-Weak Economy
C.H. Robinson Worldwide Inc.'s (CHRW) profit climbed 2% in the third quarter as the trucking and logistics company again reported higher margins, offsetting sliding revenue. Transportation margins improved to 19.8% from 15.9% due to lower fuel prices and a lower cost of capacity. Shares edged lower.
Intuitive Surgical Profit Rises 12% On Gain, Higher Rev
Intuitive Surgical Inc. (ISRG) posted a 12% earnings increase, boosted by higher revenue and a gain from deferred revenue, more than offsetting lower margins. But its stock fell nearly 4% even as the third-quarter results topped analysts' expectations.
-By Kevin Kingsbury, Dow Jones Newswires; 212-416-2354; firstname.lastname@example.org