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MARKET CURRENTS

  • 4:42 PM More on Jack in the Box (JACK): FQ2 comes in mixed beating on revenue but coming up shy on a per share basis. Total revenue was flat compared to the prior year period, but net income surged on stronger restaurant margins and lower expenses. The company raises its FY12 earnings guidance, now predicting $1.28 - $1.50 per share, versus its previous view of $1.15 - $1.43 per share. After briefly being halted, shares have resumed trading and are -0.7% AH. Comment! [Earnings]
  • 4:42 PM David Einhorn and Jeff Gundlach square off over Apple (AAPL) at the Ira Sohn conference. Einhorn sees no reason why Apple can't eventually have a $1T market cap, and touts its software strength, cross-selling ability, and relatively low hedge fund ownership rate as positives. Gundlach continues to think (previous) Apple product refreshes will lose their ability to wow consumers. (more) Comment! [Tech, Quick Ideas]
  • 4:36 PM Aegean Marine Petroleum Network (ANW): Q1 EPS of $0.13 beats by $0.02. Revenue of $1.81M (+12.3% Y/Y) beats by $110M. Shares +2% AH. (PR) Comment! [Earnings, Energy, On the Move]
  • 4:32 PM Limited Brands (LTD): Q1 EPS of $0.41 in-line. Revenue of $2.15B (-2.9% Y/Y) in-line. Shares -3% AH. (PR) Comment! [Earnings, On the Move]
  • 4:31 PM Struggling solar wafer/polysilicon vendor MEMC (WFR) is up 8.9% AH after announcing CFO Mark Murphy is resigning to become President of Praxair Surface Technologies, and will be replaced by product VP Brian Wuebbles. (PR) Comment! [Tech, On the Move]
  • 4:29 PM GT Advanced Technologies (GTAT): FQ4 EPS of $0.65 misses by $0.06. Revenue of $354M (+30.3% Y/Y) misses by $39M. (PR) 2 Comments [Earnings]
  • 4:26 PM HollyFrontier (HFC) announces a special dividend of $0.50/share and a 50% increase in its quarterly dividend to $0.15 from $0.10/share. HFC +0.6% AH. Comment! [Energy]
  • 4:23 PM More on Red Robin Gourmet Burgers (RRGB): Q1 comes in mixed, beating on a per share basis but coming up short on revenue estimates. Total revenues were lackluster due to declining guest counts, but it bottom line results were helped by a boost in the average guest check, better operating profit margins and tighter expense management. Shares are volatile after hours, dropping nearly 8% immediately following the earnings report, but have since recovered and are currently trading 1.7% higher. Comment! [Earnings]
  • 4:23 PM As retail interest in the Facebook (FB) IPO hits a fever pitch, the company is increasing the number of shares available at the end of its IPO lockup period (lasts 91 days) by 96M to 268M. Of course, many institutional holders are using the IPO itself to cash out. 1 Comment [Tech]
  • 4:21 PM In one of the odder joint ventures out there, Toyota (TM) teams up with Nintendo (NTDOY.PK) to turn the Nintendo DS into a navigational tool. For a cool $3K bucks, a driver can buy Toyota's Smart Navi system to add a Super Mario experience to the simple function of driving around town. 1 Comment [Global & FX]
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ANALYSIS FOR WEDNESDAY, MAY 16, 4:40PM ET

DIA -0.06%
SPY -0.32%
QQQ -0.68%
GLD -0.18%

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