DOW JONES NEWSWIRES
Below is a synopsis of major earnings releases from Monday
afternoon:
Apple Smashes Views Again; Stock Hits New High
Apple Inc.'s (AAPL) fiscal fourth-quarter profit jumped 47% as
the company sold more Macintosh computers and iPhones than in any
previous quarter, which helped drive revenue. Shares were up 6.4%
to $202 in after-hours trading, hitting a new high, as the
company's latest results easily beat analysts' expectations.
Texas Instruments Sees Higher Demand; 4Q View Strong
Texas Instruments Inc.'s (TXN) third-quarter profit slid 4.4% on
lower sales, but the company saw demand grow for the second quarter
in a row, including a 20% increase in analog chips. Its stock rose
2% to $24 in late trading as the communications-chip giant's
results topped its guidance and it predicted fourth-quarter results
above Wall Street's expectations.
JB Hunt Income Down 34% On Lower Surcharges, Prices
J.B. Hunt Transport Services Inc.'s (JBHT) profit declined 34%
on lower fuel surcharges and pricing, although results topped Wall
Street's expectations due to seasonal improvements across all
sectors.
Western Bank Zions Sees Further Loan Troubles
Zions Bancorp Inc. (ZION) swung to a loss as the Western bank
continued to suffer from sour loans, but it said it saw some signs
of stabilization in the economy. Credit losses and bad loans
continued to mount, and shares fell 2.1% to $17.93 in late
trading.
Lincare Earnings Down 32% On Falling Reimbursement Rates
Lincare Holdings Inc.'s (LNCR) profit slid 32% on slumping
margins and revenue declines caused by falling Medicare
reimbursement rates. Operating margin for the medical-equipment
provider fell sharply on higher costs.
ICU Medical Earnings Off 17%, Estimates Raised
ICU Medical Inc.'s (ICUI) profit fell 17% as revenue fell less
than expected, leading the medical-equipment company to again raise
its 2009 earnings guidance. Its stock added 2.1% to $36.60 in late
trading.
Apartment Operator UDR Remains In Red; View Lowered
UDR Inc.'s (UDR) loss widened as the company wrote down its
investment in two joint ventures. The apartment
operator--unprofitable for six straight quarters--also lowered its
2009 forecast because of the write-down. Shares edged lower after
hours.
SolarWinds Posts Strong Results, But Stock Still Falls
SolarWinds Inc.'s (SWI) profit grew 39% as the
network-management software company reported higher revenue,
helping it top expectations. The company also raised its full-year
target, but the stock fell 5.7% to $21.50 in after-hours trading,
reversing the regular session's gains. The company went public in
May at $12.50.
-By Kevin Kingsbury, Dow Jones Newswires; 212-416-2354;
kevin.kingsbury@dowjones.com