Shares of teen retailer American Eagle Outfitters(NYSE:AEO) rose in pre-market trading on Wednesday after it raised its forecast for second-quarter earnings, saying that sales during the period were stronger than expected.
Get Latest Earnings Update
Its stock jumped $1.27, or 6.3 percent, to $21.60 in per market trading recovering from the 49 cents, or 2.4 percent fall on close of the regular session on Wednesday.
Earnings are xpeted to be in the range of 19 cents to 21 cents per share, excluding special items. This compares with a previous forecast of 13 cents to 15 cents per share, and the 13 cents per reported in the second quarter of 2011.
Analysts, on average, were expecting profit of 15 cents per share, with estimates ranging from 13 cents to 18 cents, according to FactSet.
Revenue for the quarter ended July 31 rose 11 percent to $740 million, from $669 million a year ago. That's above the average analyst estimate of $714.6 million, and near the top of Wall Street's range of $682.8 million to $744.8 million.
First Solar, Inc.(NASDAQ:FSLR) shares rose in pre-hours trades on Wednesday with the company reporting profits of $1.27 a share beating estimates of 90 cents a share.
Can FSLR Continue To Move Higher
For Q2, First Solar posted revenue of $957 million, ahead of the Street at $819.9 million.
The company lifted its full year revenue forecast to a range of $3.6 billion to $3.9 billion, from a previous range of $3.5 billion to $3.8 billion.
Share sof FSLR are up 19.26% to $17.65 in the pre-market session.