Profit Exceeds Consensus, Outlook Strong
NetApp earned $0.51 a share in the second quarter, beating the $0.48 consensus forecast. Revenue was in line with expectations and guidance was strong. NTAP is up 11 percent before the bell on my tradeMONSTER platform.
Wal-Mart Drops on Weak Sales Growth
Wal-Mart Stores earned $1.08 a share in the third quarter, one penny ahead of forecasts. Same-store sales, however, were weaker than expected. Total revenue of $113.9 billion also lagged the $114.95 billion estimate, and profit going forward will be less than currently forecast. WMT drops 3 percent in early trading.
Restatement Sinks Diamond Foods
Diamond Foods restated financial results for 2010 and 2011, wiping out more than $50 million of profits investors thought the company had earned. Its numbers for the most recent quarter were also down sharply, and DMND is tanking by 22 percent in early trading.
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