Movers: Wendy's, Ford, Apple, Amazon.com, Starbucks
Wendy's International (WEN) agreed to be acquired by the Triarc Companies (TRY), which owns Arby's, in a $2.34 billion all-stock deal. Wendy's also posted earnings of 10 cents per share, down from 16 cents a year ago.
Ford Motor (F) unexpectedly posted a narrow profit Thursday, reporting earnings of 5 cents per share, vs. a 15-cent loss a year ago. Revenue rose 1.2%.
Apple (AAPL) posted earnings of $1.16 per share, vs. 87 cents a year ago, as revenue rose 43%. International sales made up 44% of the quarter's revenue, and gross profit margins narrowed.
Amazon.com (AMZN) posted earnings of 34 cents per share, vs. 26 cents a year ago, as sales rose 37%. However, the company reportedly warned investors that profit margins will narrow in 2008.
Starbucks (SBUX) shares were tumbling after the company said it expects earnings of 15 cents per share in the second quarter and 12% revenue growth. The company's U.S. same-store sales declined.
3M (MMM) posted earnings of $1.38 per share, vs. $1.28 a year ago, as sales rose 8.9%.
Motorola (MOT) reported a loss of 9 cents per share, vs. a 9 cents loss a year ago, as revenue fell 21%.
Whirlpool (WHR) reported earnings of $1.22 per share, vs. $1.55 a year ago. The home appliances maker cited higher material costs, oil-related price inflation and negative growth in demand in the U.S.
LAM Research (LRCX) reported earnings of 82 cents per share, vs. $1.15 a year ago, as revenue fell 5.6%.
Northrop Grumman (NOC) posted earnings of 76 cents per share, vs. $1.10 a year ago, as sales rose 6%. The company lowered profit guidance for the full year by 60 cents per share, but raised its quarterly dividend from 37 to 40 cents per share.
Aetna (AET) posted earnings of 92 cents, vs. 81 cents a year ago, as revenue rose 16%. It reaffirmed previous profit guidance.
Range Resources (RRC) reported earnings of just 1 cent per share, vs. 51 cents a year ago, even as oil and gas sales rose 41%.
Hershey Company (HSY) posted earnings of 37 cents per share, vs. 51 cents a year ago.