Sprint Weakness Hammers RadioShack
RadioShack issued weak preliminary results for the fourth quarter on weak demand for Sprint Nextel phones. Earnings were $0.11 to $0.13, compared with the $0.37 consensus estimate. Same-store sales and margins also deteriorated. RSH drops 29 percent before the bell.
Plum Creek Forecasts Earnings Below Consensus
Plum Creek Timber sees 2012 earnings at no more than $1.25 a share, while analysts had expected $1.34. PCL drops 4 percent in the premarket.
Parexel Climbs on Strong Guidance
Parexel International reported mixed results for the second quarter, but guidance was strong for the current quarter. It now sees per-share earnings of $0.30 to $0.32 on revenue of $350 million to $358 million. Analysts had expected $0.30 and $347 million. PRXL surges 10 percent in the pre.
Archer Daniels Falls on Big Profit Miss
Archer Daniels Midland earned $0.51 a share in the second quarter, missing the $0.76 average analyst estimate. Revenue beat, but investors are focusing on that profit number, sending ADM down 4 percent before the bell.
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