Electronic Arts Inc. (NASDAQ:EA) (MarketWatch)
The poor performance of Electronic Arts Inc.’s “Star Wars Battlefront 2” was in the spotlight on the company’s fiscal third-quarter earnings report on Tuesday, but that didn’t hurt its shares. Shares of Electronic Arts EA, +7.45% rose more than 9% on Wednesday, after the video game publisher reported profit that was above Wall Street expectations, though revenue was weak. EA said that the topline shortfall was due to disappointing “Battlefront 2” sales. The highly-anticipated mega franchise game suffered from a rocky launch due to consumer complaints surrounding the game’s microtransactions, or in-game purchases. Players felt there was too much emphasis on in-game purchases, making it frustrating to progress in the game.
ImmunoGen, Inc. (NASDAQ:IMGN) (The Motley Fool)
What happened: Shares of ImmunoGen, Inc. (NASDAQ:IMGN), a clinical-stage biotech developing new cancer therapies, surged 12.3% this morning after an investment bank analyst initiated coverage of the stock with an eye-popping price target. The early gain has settled down to a 10.7% rise as of 12:01 p.m. EST on Wednesday. So what: Immunogen’s only sales-generating product at the moment is a component of Roche’s breast cancer drug, Kadcyla.
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Juniper Networks, Inc. (NYSE:JNPR) (Benzinga)
Juniper Networks, Inc. shares declined 9.4 percent to $25.66 despite a fourth quarter earnings and sales beat. The company issued weak first quarter earnings and sales guidance. Juniper also reported a $2 billion buyback plan and raised its quarterly dividend from $0.10 to $0.18 per share.
Advanced Micro Devices, Inc. (NASDAQ:AMD) (CNBC)
Advanced Micro Devices’ new chips will take big market share from its competitors this year, according to Wall Street. The chipmaker reported better-than-expected fourth-quarter earnings results Tuesday. AMD also gave revenue guidance for the March quarter significantly above Wall Street expectations. The company’s shares are up 5 percent Wednesday and have now risen 31 percent this month, compared with the S&P 500’s 6 percent return. That performance ranks No. 3 in the entire S&P 500, according to FactSet.
Global Eagle Entertainment Inc (NASDAQ:ENT) (The Motley Fool)
What happened: Shares of Global Eagle Entertainment (NASDAQ:ENT) jumped Wednesday after the company reported results for the first nine months of 2017. With this report and the subsequent quarterly filings with the SEC, Global Eagle expects to no longer be under threat of delisting from the Nasdaq. The stock was up about 14% at noon EST. So what: Global Eagle reported nine-month revenue of $460 million, up 23% year over year. The acquisition of Emerging Markets Communications in mid-2016, along with growing service revenue in the connectivity business, drove the double-digit increase.
Xerox Corp (NYSE:XRX) (MarketWatch)
Xerox Corp. XRX, +5.94% on Wednesday recorded a year-over-year reduction in net loss for the fourth quarter, though it took a charge related to the new U.S. tax law. The Norwalk, Conn., maker of copy machines and other office products reported its latest results alongside the disclosure that Japanese joint-venture partner Fujifilm Holdings Corp. (4901.TO) planned to acquire it. Net loss shrank to $190 million, or 76 cents a share, from $843 million, or $3.30 a share, a year ago. Excluding certain after-tax costs, adjusted earnings per share came to $1.04, up 4 cents from a year earlier. Among those excluded costs was a $1.55 per-share charge linked to the enactment of the U.S. tax overhaul, the company said.
Boeing Co (NYSE:BA) (The Wall Street Journal)
Boeing Co. said it boosted capital spending plans in the wake of U.S. tax reform, and will invest some of the windfall in productivity gains that are generating record profits and cash flow. The world’s largest aerospace company by sales said gains from a big drop in its effective tax rate to 16% would be invested in product development, workforce training and factories as Boeing works through a huge backlog of commercial jetliner orders and targets higher world-wide military spending.
Shutterfly, Inc. (NASDAQ:SFLY) (Benzinga)
Shutterfly, Inc. shares gained 19.9 percent to $63.95 after the company reported better-than-expected earnings for its fourth quarter earnings and issued a strong FY18 guidance. The company also reported the purchase of Lifetouch for $825 million.
