Millennial Media Gapped Up On Earnings (MM, MNST, NQ, NWSA, ONTY)

Millennial Media, Inc. (NYSE:MM) stock surged 24% to $12.60 in the opening session after the company posted second quarter loss of $2.2 million, as compared with a year-earlier loss of $152,000. On a per-share basis, the loss narrowed to $0.03 a share from $0.09 a share. Analysts had projected a per-share loss of $0.05. Revenue jumped 76% to $39.4 million for the quarter. In May, the company had projected revenue between $37 million and $38 million.

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NQ Mobile Inc (ADR) (NYSE:NQ) shares climbed 3.23% to $8.00 after the company posted second quarter profit of $2.1 million, up from $1.1 million in the same quarter a year earlier. On a per-American depositary share basis, earnings were unchanged at $0.04 a share as the latest period had more ADS outstanding. Adjusted earnings per ADS were $0.14 in the latest period. Analysts had projected a per-ADS profit of $0.15. Revenue more than doubled to $20 million, topping the company's May estimate of $17.5 million to $17.8 million. Gross margin narrowed to 76.5% from 79.6%. Operating expenses also more than doubled to $13.8 million.

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Monster Beverage Corp (NASDAQ:MNST) shares declined 7% to $63.06 after the company reported a second quarter profit of $109.8 million, or $0.59 a share, up from $84.2 million, or $0.45 a share, in the same period a year earlier. Revenue increased 28% to $592.6 million for the quarter. Analysts most recently projected earnings of $0.61 a share on revenue of $596 million. Gross margin fell to 51.8% from 52.8%.

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News Corp (NASDAQ:NWSA) stock declined 0.67% to $23.56 after the company reported fourth-quarter net loss of $1.55 billion or $0.64 per share, as compared to net income of $683 million or $0.26 per share in the prior year quarter. Quarterly adjusted earnings per share were $0.32, as compared with the adjusted prior year quarter result of $0.35. Quarterly revenue was $8.37 billion, down from $8.96 billion in the year ago quarter. Analysts expected the company to report earnings of 0.32 per share on revenue estimate of $8.73 billion for the quarter.