Snap Inc (NYSE:SNAP) (The Motley Fool)
What happened: Shares of Snap (NYSE:SNAP) have skyrocketed today, up by 40% as of 12 p.m. EST, after the company reported strong fourth-quarter earnings. The Snapchat operator was able to put up solid daily active user (DAU) growth that impressed investors. So what: Revenue in the fourth quarter jumped 72% to $285.7 million, which translated into a non-GAAP net loss of $0.13 per share. Both top- and bottom-line results beat the consensus estimates, which called for $252.9 million in sales and an adjusted net loss of $0.16 per share.
Wynn Resorts, Limited (NASDAQ:WYNN) (MarketWatch)
Shares of Wynn Resorts Ltd. soared more than 9% Wednesday, after founder and Chief Executive Steve Wynn stepped down from his role, succumbing to the pressure on the company and its stock following allegations of sexual misconduct against him. The Wall Street Journal reported last month that the casino magnate has a long history of pressuring his employees to perform sex acts. The Journal said it spoke to about 150 employees during its reporting, many of whom were worried that Wynn wields so much power in Las Vegas and in the casino business that he could hurt their chances of being employed elsewhere.
solarseven/Shutterstock.com
Perry Ellis International, Inc. (NASDAQ:PERY) (Benzinga)
Perry Ellis International, Inc. rose 16 percent to $26.90 after the apparel company confirmed an acquisition offer from George Feldenkreis, the company’s founder who was recently ousted as executive chairman but still controls more than 11 percent of all outstanding shares. He’s joining forces with Fortress Investment Group, a private equity firm, to take Perry Ellis private.
Hasbro, Inc. (NASDAQ:HAS) (CNBC)
Hasbro – The toy maker reported adjusted quarterly profit of $2.30 per share, beating the consensus estimates of $1.80 a share. Revenue came in below Street forecasts, hurt by a decline in sales for its partner brands and in the European region. The company also raised its quarterly dividend to 63 cents per share from 57 cents a share.
MACOM Technology Solutions Holdings Inc (NASDAQ:MTSI) (The Motley Fool)
What happened: Shares of semiconductor supplier MACOM Technology Solutions Holdings (NASDAQ:MTSI) tumbled on Wednesday after the company reported disappointing fiscal first-quarter results. It missed analysts’ estimates on all fronts, and it provided guidance that fell well short of expectations. The stock was down about 32% as of 12:30 p.m. EST. So what: For the period, which ended Dec. 29, MACOM reported revenue of $130.9 million, down 13.7% year over year and roughly $2 million below analyst’s average estimate.
tronc Inc (NASDAQ:TRNC) (MarketWatch)
Tronc Inc. TRNC, +25.58% said Wednesday that it has sold the Los Angeles Times and the San Diego Union-Tribune for $500 million to businessman Patrick Soon-Shiong, a medical doctor and an investor in Tronc. Shares of Tronc rose 66% in premarket trade after the news. The sale includes various other titles in the California News Group. Soon-Shiong is acquiring the newspapers through his private investment vehicle Nant Capital, and in addition to the $500 million price tag there is the assumption of $90 million in pension liabilities.
Halcon Resources Corp (NYSE:HK) (Benzinga)
Halcon Resources Corporation declined 7.5 percent to $6.99. Halcon disclosed an offering of 1.2 million shares. The company also announced the acquisition of 22,617 net acres in Ward County, Texas at an average price of $14,674 per acre.
Extreme Networks, Inc (NASDAQ:EXTR) (Madison.com)
What happened: Shares of networking equipment maker Extreme Networks (NASDAQ: EXTR) are having a rough morning after it delivered mixed second-quarter earnings report, falling as much as 14.2% as of 11:17 a.m., EST. So what: In Q2, Extreme Networks sales rose 56% year over year to $231 million. On the bottom line, adjusted earnings increased from $0.12 to $0.14 per share. Your average analyst had been looking for earnings of $0.13 per share on sales near $242 million.
Sanofi SA (ADR) (NYSE:SNY) (CNBC)
Sanofi – Sanofi said it sees a return to profit growth this year, on the strength of recent acquisitions. The French drugmaker reported lower earnings for the fourth quarter, however, and gave a forecast that fell short of some analysts’ estimates.
