Top After-Hours Movers on Earnings & Beyond (BIDU, BRCM, COMV, HXL, NFLX, SANM, SPWRA, TXN)

July 25, 2011 by Jon C. Ogg

We are tracking some major movers in the after-hours session this Monday evening, mostly on earnings.  The top movers and shakers in the after-hours today are Baidu, Inc. (NASDAQ: BIDU), Broadcom Corporation (NASDAQ: BRCM), Comverge, Inc. (NASDAQ: COMV), Hexcel Corporation (NYSE: HXL), Netflix, Inc. (NASDAQ: NFLX), Rent-A-Center Inc. (NASDAQ: RCII), Sanmina-SCI Corp. (NASDAQ: SANM), SunPower Corporation (NASDAQ: SPWRA), Texas Instruments Inc. (NYSE: TXN).

We have offered news summaries and reactions on each, with color if applicable.

Baidu, Inc. (NASDAQ: BIDU) is again saying “valuation analysis be damned” because it is soaring after beating estimates.  Shares rose 1.6% today, but the stock is up another 5.4% at $164.90 at yet another all-time high.

Broadcom Corporation (NASDAQ: BRCM) is a winner despite a drop by more than one-third in earnings due to solid revenue growth and guidance being put at $1.9 to $2.0 billion for the current quarter versus $1.93 billion Thomson Reuters consensus.  Shares are actually up more than 8% at $37.98 in the after-hours.

Comverge, Inc. (NASDAQ: COMV) said that its preliminary revenues are expected to range from $31.5 million to $32.5 million versus $17.0 million in the second quarter 2010, sending shares up about 10% in thin volume after the close to $3.37.

Hexcel Corporation (NYSE: HXL) is soaring after beating earnings estimates.  Shares are up an unusually high 8% at $25.97 in the after-hours session above the $24.39 52-week high.

Netflix, Inc. (NASDAQ: NFLX) is taking a serious breather after earnings rose more than 55% after disclosing the implications of its new pricing plan.  This has shares down 8.4% at $259.00 in the after-hours session.  Here is some of the scenario about how we think Netflix can get shares up to $400

Rent-A-Center Inc. (NASDAQ: RCII) reported light earnings and guided earnings under expectations for the quarter ahead. Shares are down over 7% at $27.78 in the after-hours session.

Sanmina-SCI Corp. (NASDAQ: SANM) was down over 3% today but beating earnings and raising guidance for the quarter ahead may set a good tone for EMS companies on Tuesday.  Shares are up 8.5% at $10.00 in the after-hours session after the stock was actually close to 52-week lows.

SunPower Corporation (NASDAQ: SPWRA) gave a negative report that it tried to pass off as a mixed report.  It is now looking for a loss.  Shares were halted for news that it sees a loss due to Germany and Italy, but the stock is down 7% to $19.39 in the after-hours session after having fallen some 6.5% today in regular trading.

Texas Instruments Inc. (NYSE: TXN) is up marginally despite earnings disappointments and despite some weak segment guidance.  It appears that analog actually held up better than expected.  Shares closed down almost 1% but the stock is up 1.3% at $31.72 after the earnings report.

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JON C. OGG