U.S. stocks Fall Slightly on Europe worries (GMCR, JDSU, MGM, GLUU, COCO)

U.S. stocks extend losses on Thursday as investors as European worries overlooked a better-than-expected report on the labor front.Jobless claims declined by 27,000 to a seasonally adjusted 365,000 in the week ended April 28, compared to economists’ estimates of 378,000.Claims from two weeks ago were revised up to 392,000 from an original reading of 388,000. Now investors would watch on Friday when the government releases the employment report for April. Economists expect the U.S. gained 163,000 jobs last month, up from a disappointing 120,000 in March.The Dow Jones industrial average fell -12.48 (-0.09%), at 13,256.09. The Standard & Poor's 500 Index slid 2.43 (-0.17%) to 1,399.42. The Nasdaq Composite Index lost - 12.20 (-0.40%) at 3,047.50.

Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) shares hammered down by 45% to $27 after hitting a new low of $26.75 as the company lowered its full year outlook on lackluster earnings. Talking about the guidance, the company now projects to earn $2.40 to $2.50 a share on an adjusted basis, below 15 cents from its earlier outlook of $2.55 to $ 2.65 a share. The company expects to generate revenue within a range of $3.8 billion to $4 billion. These came well below analysts’ target of $2.65 a share on revenue of $4.27 billion. The company smashed its planned capital spending plans to $525 million and $575 million. For the second quarter, the company reported net income of $93 million, or 58 cents a share, up from $65.4 million or 44 cents a share a year ago. Revenue during the quarter grew 37% to $885.1 million, which missed the consensus analyst forecast of $972 million.
MGM Resorts International(NYSE:MGM) is down 3% after the company reported net loss of $217.3 million, or 44 cents per share on revenue of $2.29 billion, compared to a analysts’ estimates of a loss of 17 cents per share on revenue of $2.26 billion. Expenses swelled to 48% to $2.08 billion during the quarter.
JDS Uniphase Corporation(NASDAQ:JDSU) fell 3.74% as the company provided weaker-than-anticipated revenue outlook for the current quarter, while results for the third-quarter came in line with Wall Street estimates.
The company expecting to generate revenue of $415 million to $435 million, shy of analysts’ views of $457 million.
For the latest quarter, the company said that it had net loss of $17.4 million, or 8 cents a share, reversing a year profit of $38.6 million, or 16 cents a share. On an adjusted basis, the company would have earned 11 cents, matching analysts’ forecast.
Glu Mobile Inc.(NASDAQ:GLUU) added 4.50% after the company posted a stronger than estimated earnings. The company posted a loss of a penny on revenue of $21.6 million, ahead of analysts’ estimates of a loss of 8 cents a share on revenue of $18.5 million. For the second quarter, the company projects revenue of $20.5 million to $21.5 million, and a loss of 4-6 cents a share; Street consensus had been for $19.6 million and a loss of 6 cents.
Corinthian Colleges Inc(NASDAQ:COCO) slumped 14% as s the company warns a "number of challenges" will keep earnings and revenue below that mark forecast by analysts. A major factor weighing on future enrollment is the loss of federal funding for students who don't have a high school diploma of GED.


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