BEFORE THE BELL -2: US HOT STOCKS TO WATCH

Date : 10/22/2009 @ 6:45AM
Source : Dow Jones News
Stock : Lam Research Corp. (MM) (LRCX)
Quote : 153.9  0.0 (0.00%) @ 4:00AM

BEFORE THE BELL -2: US HOT STOCKS TO WATCH

Ebay (NASDAQ:EBAY)
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Among the companies whose shares are expected to actively trade in Thursday's session are eBay Inc. (EBAY), Macerich Co. (MAC) and Alliance Data Systems Corp. (ADS).

EBay's third-quarter profit fell 29% despite higher revenue as margins suffered from recently acquired Bill Me Later business, the weaker dollar and the company's shift to faster-growing, lower-margin businesses. For the current quarter, eBay offered a less-optimistic forecast than analysts expected. Shares fell 4.7% to $23.85 after hours.

Macerich cut its 2009 profit target as the shopping-center owner announced plans to sell at least 12 million shares, raising capital so it can repay some of its $1.5 billion credit line. Shares slid 4.6% to $28.45 in after-hours trading.

Alliance Data Systems' third-quarter profit fell 29% as the program and private-label card operator continued to face higher loss rates and currency issues. Shares dropped 6.3% to $63 in late trading, although earnings topped expectations.

VMware Inc.'s (VMW) third-quarter profit slid 54% on surging research and development and marketing costs, which caused operating margins to slump, although results topped expectations. The company also projected fourth-quarter revenue above analysts' estimates. Shares rose 1.3% to $45.50 in after-hours trading.

Novellus Systems Inc. (NVLS) swung to a third-quarter loss--its fifth in the past six quarters--on lower sales and margins, but the maker of semiconductor-manufacturing tools' results were in line with its guidance. Shares slipped 0.7% to $21.45 after hours.

Edwards Lifesciences Corp.'s (EW) third-quarter earnings more than doubled as sales grew across the board and the cardiovascular-treatment developer recorded big gains. The company also raised the bottom end of its 2009 profit guidance by 2 cents as it boosted its sales guidance above analysts' latest average estimate. Shares rose 1.3% to $72 in after-hours trading.

Amgen Inc.'s (AMGN) third-quarter earnings jumped 24% on higher margins as results beat analysts' expectations and the company again boosted its full-year earnings outlook. It affirmed revenue will likely be at the top end of its forecast. Shares slid 2.8% to $57.75 in late trading after the company said the Food and Drug Administration requested more information on its key drug denosumab.

Citrix Systems Inc.'s (CTXS) third-quarter profit jumped 8.7% as the virtualization and infrastructure software company posted higher license updates sales and lower expenses. The company issued a fourth-quarter view in line with analysts' expectations and affirmed its full-year target. Shares fell 4.3% to $39.57 after hours.

Terex Corp. (TEX) swung to a third-quarter loss--its fourth in a row--on lower sales and restructuring charges. Shares dropped 10% to $21.15 in after-hours trading as the construction-machinery maker's results fell short of Wall Street's expectations.

F5 Networks Inc.'s (FFIV) fiscal fourth-quarter profit climbed 44% on higher sales and margins, and the Internet services company said business is continuing to improve. Shares jumped 8.2% to $44.95 in after-hours trading as the results exceeded Wall Street's expectations.

TriQuint Semiconductor Inc.'s (TQNT) third-quarter profit dropped 20% on lower sales, but the company said business was improving. Shares sank 20% to $6.50 after hours as the semiconductor company's revenue fell short of Wall Street's expectations, though the earnings were in line with analysts' forecast.

Lam Research Corp. (LRCX) reported a surprise fiscal first-quarter profit as margins rose despite slumping revenue for the semiconductor-equipment company. Shares rose 2.3% to $36.69 in late trading.

QLogic Corp.'s (QLGC) fiscal second-quarter profit dropped 41% on lower sales and margins, but the data-storage firm pointed to "signs of stability and early indicators of recovery" in its business. The results topped Wall Street's expectations, and Chief Executive H.K. Desai said they also exceeded the company's guidance. Shares fell 2.7% to $17.60 after hours.

Noble Corp.'s (NE) third-quarter profit grew 11% on increasing revenue from contract drilling services and a tax gain. The offshore-drilling contractor's shares rose 1.5% to $43.25 in late trading.

 
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Ameriprise Financial Inc. (AMP) swung to a third-quarter profit as the provider of financial-planning services posted sharply higher revenue and net investment income. Earnings topped Wall Street estimates, though revenue fell short.

Pactiv Corp.'s (PTV) third-quarter profit climbed 64% as the packaging company posted surging margins, higher overall volume and growing profits at both of its businesses. The company also again raised its full-year target but kept its sales decline target unchanged. Pactiv's fourth-quarter earnings view was in line with analysts' estimate.

-By Dow Jones Newswires, write to hotstocks@dowjones.com

 
 

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