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Markets are still grappling with economic woes in the country and in Europe. Major indices are trading in red and are following the trend this week so far. On the positive side, some major companies have announced positive quarterly results. However, the markets failed to respond correspondingly to the earnings surprises. Another stock in news is Facebook, which has come out of yet another lockout and the stock is currently trading up at high volume. Facebook has already traded 128.926 million shares, in comparison to its usual volume of 53.26 million shares. Following is the list of companies reporting positive results today:
Abercrombie & Fitch Co. (NYSE:ANF): The company gave a positive surprise with its third quarter earnings. Abercrombie & Fitch reported its quarterly sales at $1.17 billion, up 9 percent from its previous year quarter sales. Though, its overseas sales increased 37 percent, the company’s domestic sales remained flat. The results sent the company stock soaring by 28.83 percent and it is currently trading at $40.17. Abercrombie & Fitch announced its profits for the quarter at $71.5 million, up from $50.9 million it had earned for the corresponding quarter of the last year. Its per share income stood at 87 cents per share, beating consensus estimates of 60 cents per share in net profit. The stock had opened at $40.15 and has traded in the range of $38.05 and $40.60 in the current trading session. Abercrombie & Fitch stock commands the Price Earnings ratio of 38.37. The company also raised its outlook for the full year to $2.85 to $3 per share in net profit.
Woodward Inc. (NASDAQ:WWD): The stock is currently trading at $35.72, up 11.37 percent from its previous close of $32.07. Woodward Inc. stock is up on the news of its encouraging quarterly results. The company reported its net profit for the fourth quarter at $46.1 million. On per share basis, its income stood at 60 cents per share, beating analysts’ expectations of 56 cents per share. Woodward Inc’s revenue for the quarter increased 8.1 percent to $528.7 million. Analysts expected the company to report its revenue at $464.6 million. The stock is trading at the Price Earnings ratio of 17.21. It has traded in the range of $30.16 and $46 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $35.43 and 50 days moving average price of $35.48.
Cisco Systems Inc. (NASDAQ:CSCO): The company stock is currently trading at $17.95, up 6.56 percent from its previous close of $16.85. The stock had opened at $18.10 and has traded in the range of $17.84 and $18.25 in the current trading session. Cisco Systems reported its results and provided positive earnings surprise. The tech company’s net profit for the quarter stood at $2.09 billion, up from $1.78 billion it had earned in the corresponding quarter of the last year. On per share basis, the company’s net income was reported at 39 cents per share. Cisco Systems was expected to report its revenue at $11.8 billion, while its actual revenue has been reported at $11.9 billion. The company bucked the trend of dismal quarterly results reported by the tech companies recently. Cisco Systems stock commands the Price Earnings ratio of 12.05 and the company results benefited from the price reduction carried out by it.
Staples Inc. (NASDAQ:SPLS): Another company to report good results. Staples Inc. took various cost control measures in the quarter and the results are visible through its financial numbers. The company’s adjusted net income for the quarter has been reported at 46 cents per share, beating consensus estimate of 45 cents per share. The result has sent the stock soaring by 3.29 percent and it is currently trading at $11.62. The company stock lost about 20 percent this year. It has traded in the range of $14.96 and $21.30 in the past 52 weeks. However, the stock is trading above its 20 days moving average price of $11.57 and 50 days moving average price of $11.55. The company reported 2 percent decline in its overall sales and the figure stood at $6.35 billion. However, Staples lagged consensus estimate of $6.45 billion in revenue. Including restructuring expenses, the company suffered a net loss of $596.3 million.
