Huntington Ingalls Humps On Solid Earnings (DISH, BIDU, HII, TEA, PRGS)

DISH Network Corp.(NASDAQ:DISH) shares are showing volatile movement this morning with the stock recently trading lower by 0.80% to $32.26, after rising over 4% earlier in the morning session. This morning, analyst at Wells Fargo raised their earnings estimates on the company considering the company’s latest acquisition of TerreStar and DBSD, which would increase the company’s value of the spectrum. The firm believes that the company would beat consensus 2012 and 2013 EPS estimates, and it notes that half of the new units’ operating expenses should be borne by Echostar (NASDAQ:SATS).

Baidu.com, Inc. (ADR)(NASDAQ:BIDU) shares slid over 2% on profit booking after surging over 10% in the past one week. The stock had been showing solid uptrend and made 7-month highs on reports that Apple is planning to make Baidu as a search engine option for all Apple devices that use its mobile operating system in China by April. BIDU has outperformed so far this year with the stock surging over 26%. The company has over 80% market share on china and has been showing solid revenue and profit growth over the past few years on the back of increase in ad revenues.

Huntington Ingalls Industries Inc(NYSE:HII) shares soared about 8% after the company reported better-than-estimated fourth quarter results. The company reported profit of $59 million, or $1.19 in the latest quarter, compared to a year ago profit of $1.29 a share, topping analysts’ estimates of 94 cents a share. The company is targeting to boost its margins to 9% by 2015 from 4.4 percent in 2010.

Teavana Holdings, Inc.(NYSE:TEA) shares slid 3.80% after the company provided worse than estimated first-quarter results, citing increased stock compensation expenses and store opening costs. The company projects to 9 cents to 10 cents a share in the current quarter, well below analysts’ estimates of 12 cents a share. In the fourth quarter, the company earned $12.5 million, or 32 cents per share, ahead of analysts’ estimates by a penny.

Progress Software Corporation(NASDAQ:PRGS) shares lost 2.50% after the company’s first-quarter profit plunged. The company earned $7.49 million or $0.12 per share, compared to a year ago profit of $20.52 million or $0.29 per share. On an adjusted basis, the company earned 28 cents a share, topping analysts’ estimates by 3 cents. Total revenue fell to $124.43 million from $134.24 million in the prior-year quarter, ahead of analysts’ target of $120.51 million.
Separately, the company announced that Charles Wagner, chief financial officer, will leave the company effective immediately.