Market News

August 14, 2013  Wed 7:37 AM CT

Retail Giant Also Lowers Guidance

The department-store operator this morning reported adjusted earnings of $0.72 per share for the second quarter, falling short of the $0.78 consensus forecast. Revenues totaled $6.07 billion, below the $6.12 billion expected by analysts. The company also lowered guidance. M is down about 3 percent to $47.05 on my tradeMONSTER extended-hours platform

Brocade Surges on Strong Quarter

The network-equipment company said last night that adjusted earnings for the last quarter came in at $0.19 per share, easily beating the consensus forecast of $0.12 EPS. Revenues totaled $537 million, ahead of the estimated $519.1 million. The company cited rising demand for its storage products. BRCD is spiking higher by nearly 11 percent to $7.65 this morning.

Cree Tanks as Revenues Miss Target

The lighting manufacturer met earnings forecasts for the last quarter but fell short on the top line, reporting $375 million versus the $378 that analysts had been looking for. Cree also projected earnings of $0.36 to $0.46 per share on revenues of $380 million to $400 million for the current quarter, compared with estimates of $0.43 EPS on revenues of $398.4 million. CREE is down more than 17 percent to $62.90.

SeaWorld Sinks on Top, Bottom Lines

The theme-park operator posted adjusted earnings of $0.41 per share for the second quarter, well below the consensus expectation of $0.51 EPS. Revenues also missed estimates, coming in at $411.3 million versus the $434.6 million expected by analysts. SEAS is down about 10 percent to $32.70 in pre-market trading.

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