InfoSpace Soars On Solid Earnings (NSP,PSS,WIN,WFR,BAC)

InfoSpace, Inc.(NASDAQ:INSP) shares soared 24% to $13.60 as the company posted blowout first quarter earnings. The company said that it earned $11.4 million, or 28 cents per share, up from a year ago profit of $1.3 million, or 4 cents per share. On an adjusted basis, the company would have earned 70 cents a share. Revenue during the quarter soared 124% to $115.7 million. For the second quarter, InfoSpace, which owns Dogpile.com, WebFetch.com, MetaCrawler.com, and WebCrawler.com, expects revenue of $92.5 million to $96.5 million. Analysts were looking for revenue of $88.5 million in the second quarter. Shares of INSP are up 24.04% to $13.62 after hitting session high of $13.98 earlier in the session.

Collective Brands Inc.(NYSE:PSS) added 0.23% to $21.39 on high volume. Recently, the company agreed to be acquired by Wolverine Worldwide, Blum Capital Partners and Golden Gate Capital for $2 billion The Topeka Capital-Journal reports Collective Brands Inc. (NYSE:PSS) shareholders will receive $21.75 per share in cash as a result of the sale.  An investor in NYSE:PSS shares filed a lawsuit against directors of Collective Brands Inc seeking to block the proposed takeover by Wolverine Worldwide, Blum Capital Partners and Golden Gate Capital.

Windstream Corporation(NASDAQ:WIN) shares slumped 10% after the company said that it earned $64.6 million or $0.11 per share from $29.4 million or $0.06 per share in the same quarter last year. Business service revenues grew 3.2 percent on a pro forma basis to $897 million. Consumer broadband service revenues were $113 million, up 5.9 percent year-over-year. Business and consumer broadband revenues represented about 68 percent of Windstream's total revenues and sales in the quarter. Excluding these items, adjusted earnings per share were $0.13 for the first quarter.

MEMC Electronic Materials, Inc.(NYSE:WFR) slumped 24.62% to $2.41 and made a new 52-week low of $2.41. For the quarter, the company posted non-GAAP revenue of $523.8 million, beating the Street at $474.2 million, but a non-GAAP loss of 26 cents a share was worse than the Street’s projection of a loss of 15 cents. Revenue was down 28% year-over-year and 29% sequentially; the company said the declines reflect “weakness in semiconductor wafer and solar markets.” For Q2, the company sees semiconductor revenue up 5%-10% sequentially with solar sales in the 130-170 MW range. The company sees solar systems pricing averaging $3.50/watt.

For the full year, MEMC expects semiconductor revenue down 2%-5%, worse than the previous projection for flat revenue. The company continues to see solar sales above 400 MW. The company now sees solar energy systems pricing at great than $3.50 a wqtt, down from a previous projection of $3.75.

Bank of America Corp(NYSE:BAC) shares jumped 0.40%, bounced back from a 7% fall in the past one week. Bank of America Merrill Lynch bought some $2.5 billion in complex residential mortgage-backed securities from the Federal Reserve Bank of New York on Thursday, edging out eight other dealers in a bid to own the crisis-era securities now in greater demand.