Sanmina-SCI
Corporation(NASDAQ:SANM) shares triggered a sharp rally late Monday after
the company provided solid earnings guidance, which topped analysts’ estimates
by wide margin. However, the company’s third quarter earnings missed analysts’ target.
For the fourth quarter, the company projects to generate
revenue of $1.58 billion and $1.63 billion, ahead of analysts’ estimates of $1.53
billion. Moreover, on an adjusted basis, the company expects to earn 32-38
cents a share, well ahead of analysts’ forecast of 29 cents.
How Should Investors
Trade SANM, Get
Trend Analysis
For the third quarter, the company earned $8.9 million, or
11 cents per share and adjusted earnings were 26 cents a share, missing
analysts’ target by 3 cents. Revenue came in at $1.55 billion, up 7% year over
year, topping analysts’ consensus of $1.49 billion.
Shares of SANM rose 11.56% to $8.01 in after hours on
Monday.
Shares of DeVry
Inc.(NYSE:DV) tumbled to new lows late Monday after the struggling for-profit
education company projected worse earnings for the current quarter on weakening
enrollment after tougher new regulatory environment.
For the current quarter, the company projects to earn 43 to
46 cents per share on revenue of $500 million and $510 million, well below
analysts’ target of 79 cents per share on revenue of $519.2 million.
Should You Buy DV
After Today’s Fall, Get Your Free
Analysis
The company added that new enrollment for the summer term at
DeVry University is expected to fall 15 to 17 percent compared to last year's
term. In order to balance its falling enrollment, the company is planning to eliminate
570 jobs or 5.40% of the company's total workforce of 10,500.
DeVry could provide more details when it reports
fourth-quarter results Aug. 9, but it warned Monday that those results will
likely miss expectations.
Shares of DV slumped 22.35% to $21.40 in addition to a fall
of 28% year to date.
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