Netflix, Inc. (NASDAQ:NFLX) declined
2.28% to $168.76. The company reported that its third-quarter profit surged 26%
as the online movie rental company's revenue growth accelerated and margin
improved. Net income rose to $38 million, or 70 cents a share, from $30.1
million, or 52 cents a share, in the year-earlier quarter.
Analysts,
on average, expected the company to report earnings of 72 cents per share on
revenue of $550.95 million.
An
analyst at Janney Capital upgraded shares of Netflix from Sell to Neutral this
morning following last night's strong Q3 results and strong subscribers’
guidance. The firm sets a $145 fair value estimate.
Amazon.com, Inc. (NASDAQ:AMZN) slid
0.06% to $164.87 after the company predicted a lower than estimated gross
margin for its fourth quarter.
The
company reported $231 million, or 51 cents a share of net income in its third
quarter on revenue of $7.56 billion, ahead of analysts estimates of 48 cents a
share on revenue of $7.37 billion.
The
company projects its revenue to be in range of $12 billion to $13.3 billion in
the fourth quarter, ahead of analysts’ estimates of $12.3 billion.
However,
the company expects to have 3% – 4.2% in gross margin, well below the analysts
target of 5%.
Over
the past 52-week, the stock traded within the range of $91.70-$166.87.
Select Comfort Corp. (NASDAQ:SCSS) jumped
1.78% to $8.01. Piper Jaffray upgraded Select Comfort from Neutral to
Overweight with a price target of $9.
The company reported net income of $10.5 million, or $0.19 per diluted share in the third quarter of 2010, compared to net income of $6.9 million, or $0.15 per diluted share, during the same quarter last year.
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