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Aug. 3, 2000, 5:58 p.m. EDT

Emulex stock up after sales bump

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By Chris Kraeuter, CBS.MarketWatch.com

NEW YORK (CBS.MW) -- Emulex shares rose 23 percent in Thursday’s after-hours session after the tech company’s fourth-quarter results handily beat Wall Street’s estimate.

Also active in the late session were J.D. Edwards & Co., Walt Disney, Starbucks, Jupiter Communications, and Communications Systems.

Emulex shares rose 11.0625 to 58.625 after closing down 7/16 to 47 9/16.

Emulex reported fourth quarter net income of $9.6 million, or 25 cents a share, compared with $3 million, or 10 cents per share, for the same quarter last year.

Analysts surveyed by First Call expected earnings of 21 cents a share.

Revenue rose 99 percent to $40.8 million compared with $20.5 million during the year ago quarter.

J.D. Edwards & Co. shares rose 20 percent after raising its expectations for quarterly results.

J.D. Edwards shares rose 2.75 to 16.25 on Island after closing up 7/16 to 13 ½.

After the market closed, the company said it expects earnings between breakeven and 2 cents a share with revenue between $250 million and $260 million.

Analysts currently expect the company to lose 5 cents a share on average.

License revenue is expected to be in the range of $109 to $114 million.

“Strong demand for J.D. Edwards’ core products, including our collaborative supply chain solutions, led to our significant license fee growth this quarter,” said Ed McVaney, president and CEO.

Walt Disney Co. shares rose 2.2 percent after the entertainment and media conglomerate reported third-quarter financial results better than Wall Street expected.

Walt Disney /zigman2/quotes/203410047/composite DIS +1.18% shares rose 0.9375 to 41 7/8 after closing up 13/16 to 40 15/16.

After the market closed Thursday, Walt Disney Co. said its fiscal third-quarter profit rose from the year-earlier total, reflecting strong performances from its broadcasting and cable networks and theme parks.

Disney’s net income -- including the Internet results -- was $440 million, or 21 cents a share, compared to $368 million, or 18 cents, in the same period last year.

/zigman2/quotes/203410047/composite
US : U.S.: NYSE
$ 176.46
+2.05 +1.18%
Volume: 13.94M
Oct. 15, 2021 4:03p
P/E Ratio
288.76
Dividend Yield
0.00%
Market Cap
$320.65 billion
Rev. per Employee
$320,813
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