MidnightTrader – Earnings Notebook for ALTR, EBAY, HOG, NOK
Altera Corporation
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7:26 AM, Apr 16, 2008 — Altera (ALTR) is due out with Q1 results after the bell tonight, and analysts polled by Thomson First Call are expecting a profit of $0.23 per share on revenue of $326.5 million.
Altera has demonstrated a definitive trend toward wider moves between the sessions, posting more aggressive follow-on action in the regular session in 11 of its past 15 after-hours earnings events we’ve tracked. In the near-term, the stock also favors a widening pattern, with three wider trading moves between the sessions in the last four quarters.
On Jan. 31, 2008, the stock gained 3.3% in evening trading after beating with Q4. The stock jumped 15% the next day.
On Oct. 23, 2007, the stock fell 12% after the company missed with Q3 sales and guided for Q4 sales to be flat or down. The stock closed down 15.7% the next day.
On July 23, 2007, ALTR edged up 0.7% in evening trade after beating Q2 expectations. However, shares couldn’t build on that momentum and slipped 1.7% by the end of the next day session.
On April 23, 2007, ALTR jumped 5.3% in after-hours trade when the company topped Q1 EPS estimates although sales missed. It also issued guidance that was below expectations. Investors, though, focused on the stronger EPS and took shares higher the next day, closing them up 7.7%.
On February 13, 2007, ALTR edged up 1.1% in night trade after beating Q4 EPS estimates but missing on sales and offering Q1 sales guidance below Street views. Shares eked out slightly more gains the next day, ending the regular session up 1.3%.
On Nov. 6, 2006, the stock gained 1% after the company reported ahead of expectations with Q3 results. The gain improved to 4.7% the next day.
On July 24, 2006 ALTR jumped 7.1% in evening trade after topping Q2 sales expectations and forecasting Q3 revenues above Street views. The shares, though, lost some of their luster and ended the next day session up 2.8%.
On April 27, 2006, the stock fell 2.5% in night trading after the company reported in line with earnings but fell short of Street expectations with revenue. The stock rebounded to put up a 1% gain the next day.
On January 25, 2006, ALTR edged up 1.8% in night trade despite missing Q4 sales estimates. It met EPS expectations. The shares gained even more the following day, ending regular trading up 3%.
On Oct. 24, 2005, ALTR shed 3.2% in after-hours trade after the company beat earnings expectations but set its forward sales goal below Street estimates. It continued to tumble further south in the Oct. 25 regular session, losing 7.3%.
On July 25, 2005, Altera ended the after hours session up 2.3%. That evening, the company reported Q2 sales ahead of expectations and met EPS estimates. It also said it expected Q3 sales growth from Q2. However, shares lost steam and closed the next day session down 0.3%.
On April 25, 2005, ALTR rose 1.9% after hours after topping Q1 revenue expectations and beating the Street’s EPS forecast by 2 cents, as well guiding Q2 revenue above analysts’ expectations. It accelerated its upward momentum in the April 26 regular session, closing up 7%.
On Jan. 24, 2005, ALTR gained 1.3% after hours after topping Q4 revenue expectations,and beating the Street EPS view by 2 cents. It widened its upside in the Jan. 25 regular session, climbing 2.5%.
On Oct. 20, 2004, ALTR rose 2.4% in after-hours trading after reporting Q3 sales that were up 26% from the prior year but nevertheless missed Wall Street expectations, and earnings that nearly doubled year-over-year but missed the Street target by 1 cent. Traders jumped aboard in the Oct. 21 regular session, sending ALTR surging 12.2%.
On April 21, 2004, ALTR gained 2.5% after hours after reporting Q1 sales that were well above expectations, and EPS that beat the FC mean by 2 cents. It widened price action in the April 22 regular session, closing up 3.5%.
Companies: ALTR
EBAY
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7:25 AM, Apr 16, 2008 — eBay (EBAY) is set to post its Q1 results after the bell tonight, and analysts polled by Thomson First Call are anticipating a profit of $0.39 per share on revenue of $2.08 billion.
EBAY is evenly split with its share performance over the last four years, crossing less aggressive next-day percentage closing levels following eight of 16 after-hours earnings events during those years and widening in the other half. In the near term, the stock favors a narrower move, doing so three times in the last four quarters; the exception was last quarter.
On Jan. 23. 2008, the stock fell 5% during evening trading after EBAY reported ahead of the Street with Q4 but disappointed with guidance. The loss was a slightly deeper 6% the next day.
On Oct. 17, 2007, EBAY climbed a mere 0.4% higher in evening trade after beating Street estimates and guiding higher. That upside was pushed aside the following day, and EBAY lost 6.1% in regular session trade.
On July 18, 2007, EBAY slipped 1.7% in after hours despite beating Q2 estimates and raisings its FY EPS outlook to in line to above expectations. Shares trimmed their losses the next day to end the regular session down 1.6%.
On April 18, 2007, EBAY edged up 2.6% after topping Q1 EPS forecasts and issuing guidance that is mostly in line to ahead of expectations. However, shares could not hold those gains and slipped back 3.6% by the end of the next day’s regular session.
On Jan. 24, 2007, the stock was up 12.4% in night trade after topping with Q4 results and setting a buyback. The gain was a slimmer 8.1% the next day.
On Oct. 18, 2006, EBAY rose 1.8% in night trade after topping Q3 EPS estimates by two pennies. Shares strengthened further the following day, ending the regular session up 7%.
On July 19, 2006, shares gained 5.2% in the evening session after the company reported in line with EPS, set a buyback, but offered mixed guidance. Shares fell 4.9% the next day.
On April 19, 2006, EBAY dropped 4.6% in after-hours when the company beat Q1 EPS estimates but guided Q2 below Street views. The shares extended their losses the next day, ending the regular session down 8.8%.
On January 18, 2006, EBAY slipped 2.5% in night trade after topping Q4 estimates but guiding for Q1 and FY06 below Street views. The shares, though, recovered the next day and ended regular-hours trading up 5.2%.
On Oct. 19, 2005, EBAY lost 5.5% in after-hours trade after beating on revenue, posting in-line EPS, and guiding for weaker-than-expected earnings. Sellers continued to hit the issue for deeper declines on Oct. 20, sending EBAY down 6.8% by the closing bell.
On July 20, 2005, EBAY rose 14.2% in after-hours trade after reporting Q2 results that beat analysts’ expectations and forecasting 2005 earnings above expectations. The stock widened its gains the following day, closing up 20.7% in regular hours trade.
On April 20, 2005 EBAY advanced 0.2% in night trade after beating expectations and guiding mostly in-line. It saw those slim gains disappear on April 21, and the stock slipped a modest 0.09% between the bells.
EBAY was hit for an 11.7% decline the night of Jan. 19, 2005 after the company reported Q4 EPS results a penny shy of expectations and trimmed its outlook. The stock saw more aggressive downside momentum in the Jan. 20 regular session, closing down 19.1%.
EBAY added 3.2% the night of Oct. 20, 2004, after the company beat expectations and guided higher. It soared 9% by the Oct. 21 closing bell.
EBAY shed 5.3% in the July 21, 2004 after-hours session following better-than-expected results but light guidance. It pared its declines in next-day trade, ending bell-to-bell trade up 1%.
Finally, on April 21, EBAY ran 3.2% higher in after-hours trade on bullish results and a strong outlook. The stock jumped 10.4% in the April 22 regular session.
Companies: EBAY
Harley Davidson
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6:05 AM, Apr 16, 2008 — Harley-Davidson (HOG) is due with its Q1 results during the pre-market on Thursday, April 17, and analysts polled by Thomson First Call are expecting the company to report a profit of $0.77 per share on revenue of $1.23 billion.
HOG is mixed in its movement between the sessions, adding to its pre-bell performance in the following regular session in six of its last 12 earnings events, and narrowing in the other six moves. In the near-term, it favors widening, in three of the last four quarters.
On Jan. 25, 2008, HOG advanced 3.4% in pre-market trade after reporting EPS that missed expectations but revenue that was ahead of estimates. It saw that gain evaporate in the following regular session, closing the day down 5.3%.
On Oct. 19, 2007, HOG declined 0.4% in pre-bell action after beating estimates but also forecasting a decline in revenue and challenging markets in the near-term. The stock dipped deeper in the red in the Oct. 19 regular session, declining 1.3%.
On July 19. 2007, the stock slipped 0.5% in the pre-market session after HOG beat by a penny but with revs just shy. The loss was a deeper 2.9% by the close of regular trading later that day.
On April 19, 2007, HOG advanced 0.8% in pre-market action after the company topped Q1 expectations. It headed further north in that day’s regular session, closing up 3.2%.
On Jan. 18, 2007, HOG declined 2.9% in pre-market trade after the company reported better-than-expected Q4 results. The stock cut back its pre-bell downside slightly in the regular session, ending the day down 2.5%.
On Oct. 12, 2006, HOG advanced 2.7% in pre-market trade after the company beat Q3 expectations. It maintained the same 2.7% rise through to the Oct. 12 regular session close.
On July 17, 2006, HOG advanced 2.6% in pre-market trade after the company beat on revenue, posted in-line earnings and issued guidance for further growth. It held gains in the regular session but saw its upside narrow to a 1.8% rise by the closing bell.
On April 12, 2006, HOG shed 3.9% in pre-market trade after the company reported Q1 results in line with Street expectations. The stock continued heading south in the regular session, ending bell-to-bell action down 5.9%.
On January 19, 2006, HOG edged up 0.2% during pre-market trade after the company beat Q4 earnings estimates despite being shy on revenues. The shares jumped during the day, ending the regular session up 4.6%.
On October 12, 2005, HOG gained 4.7% in the early morning when the company reported Q3 results that topped estimates. However, the shares lost their momentum and closed the regular session up only 2.8%.
On July 13, 2005, HOG rose 4.5% in pre-market trade after beating Q2 estimates and guiding full-year earnings above Street views. But HOG failed to build on those gains and fell back a bit to end the regular session up only 1.3%.
On April 13, 2005, HOG slid 16.5% in the pre-market session despite beating Q1 earnings estimates and reporting sales in line with expectations. The company lowered its 2005 earnings growth forecast. Shares dipped further, ending the regular session down 16.7%.
Companies: HOG
Nokia
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6:11 AM, Apr 16, 2008 — Nokia (NOK) is expected to report its Q1 results ahead of the opening bell on Thursday, April 17, and analysts expect the company to post a profit of $0.57 per share on revenue of $19.99 billion, according to Thomson First Call.
NOK has been holding to a longer-term narrowing pattern between the sessions, with the stock seeing its extended-hours performance cut back or reverse direction in the following regular session in eight of the last 13 earnings events. The near-term performance is mixed, with two wider moves and two narrowing moves between the sessions in the last four quarters.
On Jan. 24, 2008, NOK charged 6.6% higher in pre-bell trade after topping Q4 expectations. It surged even higher in the following regular session, ending the day up a hefty 12.5%.
On Oct. 18, 2007, NOK added 4% in pre-market trade after besting Q3 expectations. It narrowed its upside in that day’s regular session, ending bell-to-bell action up 3%.
On Aug. 2, 2007, the stock marched up 7.7% in the pre-market after NOK reported ahead with earnings but revenue that was just shy of the Street view. The stock finished regular trading that day up 8.7%.
On April 19, 2007, the stock gained 3.3% in the pre-market session after reporting sales ahead of year-ago as profit slipped. The stock gained a nearly matching 3.2% during regular trading.
On Jan. 25, 2007, NOK advanced 6.6% in pre-market trade after the company beat on Q4 and offered a positive growth outlook. The upside was cut back in the day’s regular session, with NOK closing bell-to-bell action up a more modest 4.4%.
On Oct. 19, 2006, NOK declined 4.4% in pre-market trade after the company posted a decline in profit despite a sharp rise in sales. The downside was trimmed back to a 2.6% decline in that day’s regular session.
On July 20, 2006, NOK managed to climb 0.8% in pre-market activity after the company reported a year-over year improvement in its Q2 sales and earnings results. Buyers grew more aggressive in the shares in the regular session, fattening the issue 2.3% by the closing bell.
On April 20, 2006, NOK advanced 5.3% in pre-market trade after beating expectations. It saw a small portion of those gains slide back for a 4.9% rise in the regular session.
On Jan. 26, 2006, NOK declined 2.6% in pre-market trade after the company reported a profit that disappointed investors but also announced a share buyback. It narrowed its downside move between the bells, losing 1.5% by the Jan. 26 regular session close.
NOK beat Q3 estimates the morning of Oct. 20, 2005 and raised its global forecasts. Despite the strong numbers the stock lost 5.2% in that day’s pre-market trade. It continued running south in the regular session, declining 6.7% by the close.
On July 21, 2005 NOK declined 9.9% in premarket trade after company just missed on earnings. Sellers hit the issue harder between the bells, pressuring it down 11.6% by the July 21 regular session close.
On April 21, 2005 NOK advanced 6.9% in premarket trade after the company reported sales up over year ago levels and said it sees strong growth ahead. Buyers pared back their enthusiasm slightly in the regular session, ending the day with the stock up 6.5%.
On January 27, 2005 NOK firmed 7% in premarket trade after the company topped Street expectations. The gains got a modest haircut in the regular session as NOK closed the bell-to-bell session up 6.2%.
Companies: NOK
Brooks McFeely is widely regarded as the leading expert on extended-hours trading. He is a Managing Partner for Brochet Capital Partners, LP and the founder of Midnight Trader, Inc. (www.midnighttrader.com), the leading provider of pre-market and after-hours trading analysis and news to retail and institutional investors.