Forum Energy Technologies (FET) posts second quarter earnings per share of 49 cents, against a consensus of 47 cents. Shares closed down 1.78 percent on the day at $20.43, and have been traded in a 52-week range of $18.73 to $23.86.
First Niagara Financial Group, Inc. reports a retail deposit retention to date of 97 percent, which is better than expected, along with impressive deposit and loan activity. Shares closed down $2.17 on the day at $7.20, having been traded in a 52-week range of $7.16 to $12.34.
Green Dot Corp. posted disappointing second quarter figures on Thursday night, and shares of prepaid debit card issuer NetSpend Corporation retreat in reaction. Green Dot reduced its 2012 guidance to a level below analysts’ consensus, blaming increased competition as the main cause. In particular, the firm thinks that many of its retail customers will start selling competing products with lower headline prices, while at the same time marketing Green Dot’s offerings. On Friday morning, the research firm Keefe Bruyette reacted to Green Dot’s numbers by downgrading NetSpend from Outperform to Market Perform with a price target of $10. In mid-morning trading, NetSpend fell $1.39 per share, to $7.93. Green Dot shares closed down 61.15 percent on the day at $9.06, but have traded in a 52-week range of $19.93 to $36.59.
Materion Brush, Inc. (MTRN) posts second quarter earnings per share of 38 cents compared to consensus at 35 cents. Shares closed up 1.82 percent on the day at $20.13, having traded in a 52-week range of $18.90 to $40.55.
Sunpower Corp. (SPWR): Chief Executive Fang Peng of JA Solar Holdings , predicts that oversupply in the solar industry will worsen in 2013, prior to the time in which the industry undergoes a new wave of consolidation that will cause shortages in 2014 or 2015. Fang added that he expects more than 90 percent of solar firms to undergo elimination challenges in 2013, says DigiTimes. Shares closed down 2.3 percent on the day at $3.83, and have traded in a 52-week range of $3.78 to $19.91.
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