8 Radar Movers: Starbucks Drops 2%, Juniper Plummets 8% and Amgen Raises Outlook

Wall St. Cheat Sheet

Starbucks Corp. shares fell 2 percent, despite reporting a 10 percent increase in first quarter profits.  The coffee giant earned $382.10 million (50 cents per share).  “Starbucks is firing on all cylinders and taking full advantage of the many global opportunities that lie ahead,” Schultz added,” CEO Howard Schultz said.  The company gave guidance of $1.78 to $1.82 per share for the full year, just short of analyst expectations of $1.83.  Shares of McDonald’s Corp. and Dunkin Brands Group Inc. edged lower on the news.

Shares of Juniper Networks Inc. dropped more than 8 percent after the networking company fell short of estimates.  For the fourth quarter, net income came in at $96.2 million (18 cents per share), compared to estimates of 28 cents per share.  Shares of Cisco Systems Inc. also dropped nearly 1 percent on the news.

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Motorola Mobility Holdings Inc. increased .18 percent in late market trading.  The company reported a net loss of $80 million (27 cents per share) for the fourth quarter.  The company is in the process of being acquired by Google .

Amgen Inc. shares bounced almost 1 percent after the closing bell.  The company reported a decrease in net income from $1.02 billion to $934 million, but said it expects revenue in 2012 between $16.1 billion and $16.5 billion, above estimates of $15.5 billion.

Shares of KLA-Tencor Corp. popped 3.4 percent in extended trading hours.  The company reported a fiscal second-quarter profit of $111 million (66 cents per share), compared to $185 million ($1.09 per share) in the previous year quarter.

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To contact the reporter on this story: Eric McWhinnie at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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