On Wednesday, Samsung Electronics reported profits for the third quarter which surpassed the analysts' expectations. However, the analysts' say that it resulted mainly due to steady sale of components like mobile display and chips as well as the currency exchange rates that remained favorable helping to hide the consistent weakness in the company's smartphone business.
On Thursday, Minnesota based Patterson Companies, Inc. reported first-quarter profit of $29.7 million for its fiscal year.
The company with its corporate office in St. Paul said that its profit was 30 cents on a per-share basis. The earnings for the quarter from continued operations, adjusted for one-time gains and costs was 47 cents a share.
In the latest quarter, Cisco Systems reported revenue and profit that surpassed market expectations. Higher demand for the company's products in the US counter balanced weak sales in other markets.
On Wednesday, its shares climbed almost four percent during the after hour trading and that's good news for the overall network gear sector.
On Friday, Sotheby's, the premier art auction house reported less than expected sales and profits in the latest quarter. It is not that there is a dent in the art market because with growing wealth, art work and paintings are selling in record price. So, what is the reason that is eating up the profits?
Yelp Inc, the company that operates Yelp.com, the consumer review website reported a loss in the latest quarter which ended in June and also lowered its revenue forecast for the ongoing quarter. It cited slow sales rate and phasing out of its brand-advertising product as reason for the unexpectedly lower results.
Although higher expenses took a toll on the overall earning in the second quarter, the profits of the Baidu increased 3.3%.
Baidu Inc. the Chinese search giant says that it will continue spending in order to promote its development into linking its online consumers with offline services like group buying, food delivery along with other related services.
Amazon reported a surprise profit in the second quarter and that was the trick which spiked up its stock by seven teen percent. The retailer celebrated its 20th birthday and f the stocks are able to maintain their hold, Amazon's stock market value could beat its long time competitor Walmart Stores Inc. That would be something as the U.S retail scene will then witness a sea change.
The shares of Apple Inc dropped almost seven percent in after-hours trading on Tuesday, as the forecast for its fourth-quarter revenue did not match the estimates of the analyst's and it also could not meet some targets for the sale of its iPhones.
The shares slid from $130.75 to $121 at the end of the day, following the results released by the company on Tuesday.
Google’s Q2 Sales and Profits Beat Analysts’ Estimates Stocks Reach New High as CFO Signals at Spending Caps
On Thursday Google, the Internet search giant reported its sales and profits for the second quarter. The results surpassed the analysts' estimates aiding to lift the stocks of the company to an all time high.
Ruth Porat, the new CFO of Google who joined the company after being the Morgan Stanley from Morgan Stanley hinted at further cost cutting.
With a continued subscriber growth, Netflix reported a strong performance in the second quarter. The Internet video streaming company with an additional 3.3 million subscribers in the three months worldwide ended the quarter with a total 65.6 million customers. Out of the new customers around 900,000 subscribers were from the U.S. The total number of Netflix Inc.
A fake report which the world thought was from Bloomberg made the shares of Twitter jump by many folds on Tuesday. The news related to a likely takeover bid for Twitter at USD 31 billion. The shares of the social media network climbed five percent as the news appeared on the internet but soon dropped to where it had started from.
The biggest bank in the U.S by asset, JPMorgan Chase & Co, reported a second quarterly profit of 5.2 percent due to a drop in expenses.
On Tuesday, the bank's second-quarter earnings kicked off with a greater than expected increase in profit which was also lifted by a slide in the legal and restructuring expenses along with a lesser tax bill.