Market Preview: Pressed for Time
One stock to watch on Thursday will be Yahoo!(YHOO) , which could see some buying interest following news that Greenlight Capital's David Einhorn has jumped back into the stock, snapping up roughly four million shares in the calendar third quarter.
Shares of Petsmart(PETM) , meantime, were higher in late trades after the Phoenix-based pet products retailer reported above-consensus quarterly results.
The company posted a profit of $82.3 million, or 75 cents a share, for its third quarter ended Sept. 30 on sales of $1.63 billion, ahead of the average estimate of analysts polled by Thomson Reuters for earnings of 63 cents a share on sales of $1.62 billion.
The stock was last quoted at $68.50, up 5.6%, on volume of nearly 200,000, according to Nasdaq.com.
Also advancing in the extended session was NetApp(NTAP) after the Sunnyvale, Calif.-based maker of storage and data management software delivered a solid beat in its fiscal second quarter and gave a robust outlook as well.
NetApp forecast non-GAAP earnings of 53 to 58 cents a share for its fiscal third quarter ending in January on revenue ranging from $1.575 billion to $1.675 billion. That view compares to Wall Street's current consensus estimate for earnings of 54 cents a share on revenue of $1.62 billion.
Shares of NetApp were last quoted at $29.89, up 10.2%, on volume of 3.89 million, according to Nasdaq.com.
For its part, Texas Instruments(NTAP) edged up after the bell as the company announced fresh restructuring plans calling for the elimination of 1700 jobs, or roughly 5% of its workforce. The company anticipates charges totaling $325 million in connection with the restructuring program. It's targeting annual savings of $450 million from the moves.
--Written by Michael Baron in New York.
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