Tuesday, August 21, 2012

Trina Solar Jumps After Earnings (TSL, BA, NKE, FOSL, MDT)

Trina Solar Limited (ADR) (NYSE:TSL) shares climbed 5.80% to $5.12 after the company reported a second-quarter loss on a slump in panel prices. The company posted a second-quarter net loss of $92.1 million, or $1.30 per American Depositary share (ADS), as compared with an income of $11.8 million, or 17 cents per ADS, a year earlier. Revenue fell 40% to $346.1 million.

As of June 30, 2012, the Company had $841.0 million in cash and cash equivalents and restricted cash, and a working capital balance of $545.3 million.

Can TSL Continue To Move Higher? Find Out Here

The Boeing Company (NYSE:BA) stock gained 0.24% to $73.65. The company marks the 50th anniversary of delivering the first H-47 Chinook military helicopter, is also nearing completion of a $ 130 million renovation of its production line near Philadelphia that will help it meet global demand for the latest model, the CH-47F.

NIKE, Inc. (NYSE:NKE) has come up with new rules for retailers, encouraged by unruly crowds outside stores selling its shoes. The company told sporting-goods stores that they will not be allowed to pre-sell or take reservations for new shoes. Shares of NKE are up 0.29% to $96.05.

Medtronic, Inc. (NYSE:MDT) stock fell 0.36% to $41.30 after the company posted first-quarter net earnings of $864 million, or $0.83 per share, from $821 million, or $0.77 per share a year before. On a non-GAAP basis, quarterly earnings were $883 million or $0.85 per share, versus $845 million or $0.79 per share in the prior-year quarter. Net sales was $4.01 billion, an increase from $3.95 billion last year, and up 5% on a constant currency basis after adjusting for a $119 million negative foreign currency impact. Analysts expected earnings per share of $0.85 on revenues of $4.00 billion for the quarter.

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Fossil, Inc. (NASDAQ:FOSL) shares declined 0.80% to $87.68. The company, on August 15, announced the appointment of John A. White as Executive Vice President and Chief Operating Officer effective September 4, 2012. Mr. White will be responsible for the Company's supply chain, distribution and warehousing, legal and information technology operations, with a focus on long-term strategy. Mr. White will report directly to Kosta N. Kartsotis, Chief Executive Officer.

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