Panera Bread (PNRA) beat earnings estimates by $0.02 a share while revenue grew 16%, though slightly estimates slightly. The bad news: Panera lowered its profit forecast for the current quarter to well below what analysts were looking for. The company blamed the bad weather for fewer customers coming to its cafes.
Herbalife (HLF) beat Wall Street earnings estimates for the twentieth consecutive quarter. The latest report came in $0.03 a share ahead of expectations. Revenue grew 20%, also ahead of estimates. Herbalife, which has been accused of being an pyramid scheme by billionaire hedge fund manager Bill Ackman, also raised its earnings guidance for 2014 above analysts’ expectations.
Garmin (GRMN) beat earnings estimates by $0.14, while revenue fell 1% from the previous year but beat estimates. The better-than-expected earnings were aided by strong demand for the company’s aviation and fitness products.
Tesla (TSLA) was in the news again. The company’s shares rose close to 3% yesterday after reports that CEO Elon Musk met with Apple last spring. Tesla shares could be active again today as investors eagerly await the company's earnings report after the bell today. Tesla is expected to post a profit of $0.21 a share while revenue is expected to grow 121% year over year.
And Zale (ZLC) surged as much as 40% in pre-market trading after rival Signet (SIG) said it would buy the jeweler for about $690 million. Signet shares also surged as much as 13% in early trading on the news. Signet will pay $21 for each Zale share which is a premium of 41% over Zale's closing price yesterday.