In Wednesday premarket trading, shares of Tupperware Brands Corp. (TUP, Financial) lost ground after the company reported fourth-quarter earnings of $1.59 per share on $588.6 million in revenue.
The company beat profit estimates by 9 cents per share but fell $15.85 million short of revenue expectations. Tupperware’s revenue declined 2% year over year, while its gross margin inched up one percentage point to 62%.
"Our re-engineering program to revitalize operations and improve the cost structure, primarily in Europe, continues to progress," Chairman and CEO Rick Goings said. "Globally, we continue efforts to evolve our relationship-selling business model to include greater access to our powerful brands and innovative products through the use of digital tools, branded contact points and a relevant earning opportunity for our growing sales force of 3.2 million."
Shares of Electronic Arts Inc. (EA, Financial) gained almost 9% Wednesday morning after the company reported a third-quarter loss of 60 cents on revenue of $1.97 billion. The company fell short of revenue expectations by $40 million.
Further, the company showed strong financial liquidity. Net cash from operating activities was $849 million. For the trailing 12 months, it was $1.514 billion. Further, during the quarter, the company repurchased 1.4 million shares for $150 million. For the year, it repurchased 5.6 million shares for $578 million.
Looking ahead, the company expects first-quarter 2018 net revenue to be approximately $5.1 billion. Net income is expected to be approximately $1.015 billion and diluted earnings per share are expected to be approximately $3.25.
Knight-Swift Transportation Holdings Inc. (KNX, Financial) shares jumped more than 10% in premarket trading after the company reported fourth-quarter earnings of 52 cents per share on $1.36 billion in revenue. The company beat earnings expectations by 11 cents, but fell $10 million short of revenue estimates.
Disclosure: The author holds no positions in any stocks mentioned.
