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Stocks to Watch: Salesforce.com, Autodesk

Written by: Michael Baron 08/24/12 - 7:35 AM EDT
Tickers in this article: IBM ARUN AAPL ADSK SCHW CRM BLK FII

The company said it expects non -GAAP earnings of 31 to 32 cents a share for the October-ending period on revenue of between $773 million to $777 million. The current average estimate of analysts polled by Thomson Reuters is for a profit of 33 cents a share on revenue of $772.3 million.

For fiscal 2013, Salesforce.com, which reported an above-consensus profit for its July-ended second quarter, anticipates non-GAAP earnings of $1.48 to $1.51 a share on revenue ranging from $3.025 billion to $3.035 billion. Wall Street's view is for earnings of $1.49 a share on revenue of $3.024 billion.

The stock was last quoted at $139.20, down more than 5%, in after-hours action on Thursday with volume topping out at 970,000, according to Nasdaq.com.

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Autodesk(ADSK) :

The San Rafael, Calif.-based design-software maker, reported disappointing quarterly results for the first time in almost two years and said it plans to reduce its headcount as global economic uncertainties weigh on its business.

For the three months ended in July, Autodesk posted a non-GAAP profit of $111.1 million, or 48 cents a share, on revenue of $568.7 million, below the average estimate of analysts polled by Thomson Reuters for earnings of 49 cents a share on revenue of $593.4 million.

The company also forecast non-GAAP earnings of 40 to 45 cents a share for its fiscal third quarter ending in October on revenue ranging from $550 million to $570 million, below Wall Street's current consensus view for earnings of 47 cents a share on revenue of $583.5 million.

The stock closed Thursday at $35.71, up more than 34% in the past year, but it was trading down more than 20% at $28.08 on heavy volume in the extended session following its quarterly report.

Federated Investors(FII) :

Citigroup upgraded Federated to buy following news on Thursday that the Securities and Exchange Commission doesn't plan to move forward with plans for increased regulation with regard to money markets.

"On 8/23, the SEC Chairman acknowledged the regulator does not have the necessary votes to bring forth proposals for further money market reform," the firm said. "This is clearly a major structural positive for money market players in particular, and moderate positive for Traditional Managers at large."

As part of the call, Citi also its raised price targets for shares of Federated, Charles Schwab(SCHW) , Invesco Ltd.(IVZ) , Legg Mason(LM) and BlackRock(BLK) .