Thursday, July 16, 2009

EARLY EARNINGS MOVERS TO WATCH (NOK, JPM, CTAS, XLNX, PLCM)

Following are the Top 5 stocks to watch this morning, following earnings reports:

Nokia (NYSE: NOK) shares are down 9% to $14.18 in early premarket trade. The company this morning met EPS expectations, but sales were lighter than consensus. The company expects industry mobile device shipments in Q3 to be at Q2 levels, or up slightly.

JP Morgan Chase & Co. (NYSE: JPM) are up roughly 1 percent to $36.55 on early premarket volume of about 55,000 shares. The company beat EPS expectations by 24 cents a share and reported what it titled a strong Tier 1 Capital ratio of 9.7%.

Cintas Corp. (Nasdaq: CTAS) shares fell 4.6% to $22.105 after hours. The company beat EPS expectations by a centime and share, and overall revenue was in line, although organic revenue retracted.

Xilinx Inc. (Nasdaq: XLNX) shares fell more than 5 percent to $19.46 after hours, after revenue fell nearly 5 percent vs. the year-ago period, and was short of analyst expectations. The company’s operative margins declined to 61 percent, and it guided operative expenses higher in the second half of the calendar year.

Polycom Inc. (Nasdaq: PLCM) shares rose more than 3 percent after hours to $22.50 after the company beat EPS expectations by a centime a share and said network systems solutions growth increased significantly, while its voice communications business showed signs of stabilization.


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