Loss To Be Wider than Expected
AK Steel predicted a fourth-quarter loss of $0.67 to $0.72 a share, partially because of a $0.33 charge on the value of deferred tax assets. Analysts only expected a loss of $0.19. Management also predicted lower selling prices for its steel. AKS fell 9 percent before the bell on my tradeMONSTER platform.
Dicks Sporting Climbs on Earnings Beat
Dicks Sporting Goods reported profit of $0.40 a share on revenue of $1.31 billion. That beat the consensus estimates of $0.37 and $1.30 billion, respectively. Management also raised guidance, sending DKS higher by almost 5 percent in early trading.
Michael Kors Falls on Mixed Guidance
Michael Kors reported strong earnings and revenue in its second quarter, but guidance wasn't as bullish as analysts had hoped. Third-quarter profit is expected to be $0.37 to $0.39, while consensus is for $0.39. Full-year revenue will also be no more than $1.96 billion, below the $1.98 billion average estimate. KORS fell by more than 4 percent on the news.
Nanosphere Climbs on FDA Nod
Nanosphere said that the Food & Drug Administration granted clearance permitting marketing of its CYP2C19 nucleic acid test on the automated Verigene System. NSPH rose by 14 percent in the premarket.