Apple, Starbucks Surge; Yahoo, AMD Fall

123jump.com Staff
21 Jul, 2009
New York City

Apple and Starbucks surge in the after-hours on earnings reports. Apple net increased 15% in the third quarter and sales of iPhone surged six-fold. Starbucks earnings increased on cost cutting. Yahoo! quarterly revenues declined 13% and net income increased 8%.

[R]6:40 PM New York – Apple and Starbucks surge in the after-hours on earnings reports. Apple net increased 15% in the third quarter and sales of iPhone surged six-fold. Starbucks earnings increased on cost cutting. Yahoo! quarterly revenues declined 13% and net income increased 8%.

After the close, Apple ((AAPL)) increased 4.5% to $158.31 after the company released fiscal third quarter earnings of $1.35 a share or $1.23 earnings per share on revenues of $8.34 billion.

Revenues in the quarter a year ago were $7.46 billion and earnings were $1.07 billion or $1.19 a share.

iPhone sales surged 626% to 5.2 million in the quarter, Macintosh computer sales increased 4% to 2.6 million and iPod sales declined 7% to 10.2 million.

The company guided for the fourth quarter earnings between $1.18 and $1.23 a share on revenues between $8.7 billion and $8.9 billion.

Advanced Micro Devices Inc ((AMD)) decreased 11.3% to $3.62 after it posted second quarter net loss of $335 million or 49 cents a share. Revenues declined 13% to $1.36 billion and gross margin plunged to 37%.

American Movil S.A.B. de C.V. ((AMX)) added 3.7 million subscribers in the second quarter. Net revenues in the second quarter increased 11.2% to 94 billion peso and net income increase of 27.5% to 22.5 billion pesos. Earnings per ADR increased to $1.03

Starbucks ((SBUX)) surged 9.7% to $16.12 after it reported third quarter earnings of 20 cents a share or $151.5 million on sales decline of nearly 10% to $2.4 billion. The company guided fiscal 2009 earnings between 74 cents and 75 cents a share and increased its cost cut target to $550 million from $500 million.

Yahoo Inc ((YHOO)) declined 2.9% to $16.27 after it reported second quarter earnings of $143 million or 10 cents a share up from $132.4 million or 9 cents a share. Net revenues declined to $1.14 billion from $1.35 billion and forecasted revenues between $1.45 billion and $1.55 billion in the third quarter.