EdgeWater 2/8/2011 12:18:59 PM
News / Business

Stocks Fall After Earnings (RDN, Visa Inc., THQI)

Stocks Fall After Earnings

Radian Group Inc. (NYSE:RDN) shares slumped 10.34% after the mortgage insurer said that its net loss widened to $1.13 billion, or $8.55 a share in its fourth quarter, compared to a year ago loss of $91.9 million, or $1.12 a share.

Analysts were projecting a loss of 56 cents a share on an adjusted basis. Mortgage insurance claims were $392.2 million, down from $494.2 million in the third quarter.

Visa Inc. (NYSE:V) shares slid 0.54% to $71.70 in the pre-market session after the company said that it earned $884 million or $1.23 a share on revenue of $2.24 billion in its first quarter, topping analysts’ estimates of $1.20 a share on revenue of $2.22 billion.

THQ Inc. (NASDAQ:THQI) plunged 11.86% to $5.65 after the company said it had a net loss of $14.9 million, or a loss of 22 cents a share on revenue of $314.6 million.

On an adjusted basis, the company earned 37 cents a share, topped analyst estimates of 26 cents a share.

The company trimmed its fourth quarter guidance to 5-15 cents a share from 30-38 cents a share.

Article published by Wall Street Grand. Visit the Wall Street Grand Club today.

SAFE LINK

Disclaimer:

For our full disclosure please visit - http://www.wallstreetgrand.com/disclosure.html