Double-Digit Percentage Earnings Movers (ALGN, NFLX, QCOM, TTEK)

Posted in after-hours 
January 27th, 2010

We have at least four stocks up or down by double-digit percentages in the after-hours session based upon their earnings reports.  These are Align Technology, Inc. (NASDAQ: ALGN) and Netflix, Inc. (NASDAQ: NFLX) up; Qualcomm Inc. (NASDAQ: QCOM) and Tetra Tech Inc. (NASDAQ: TTEK) down…

Price snapshots below are as of 7:00 PM EST:

Align Technology, Inc. (NASDAQ: ALGN) beat earnings at $0.16 EPS and revenue rose 16.9% year over year to $86.6 million.  Estimates were $0.09 EPS and $80.6 million. Guidance for next quarter is $0.12 to $0.14 EPS on revenue of $85 to $88 million vs. estimates of $0.08 EPS and $80.42 million.

  • Align Technology, Inc. $16.69 close… up 10.5% at $18.45 on 82,130 shares

Netflix, Inc. (NASDAQ: NFLX) said everything right that it could short of issuing any guarantees.  The movie rental player added 1.1 million customers and said that its fourth quarter profits rose 36% and gave strong expectations for 2010.  Shares were up about 15% in the after-hours session after the close.

  • Netflix, Inc. $50.97 close… shares up 15.2% at $58.72 on 1,331,429 shares

Qualcomm Inc. (NASDAQ: QCOM) beat earnings as was expected, but the company gave very ugly guidance considering the number of smartphones and mobile web devices that are coming online in 2010.  There was just no pretty way to paint today’s report.  Average sales prices per unit were brought down by 4.2% for 2010.

  • QUALCOMM Incorporated $47.20 close… down 10% at $42.48 on a whopping 6,085,526 shares

Tetra Tech Inc. (NASDAQ: TTEK) is supposed to be one the companies in the sweet spot ahead of the State of the Union, but the company must not be too robust about its chances of garnering remediation and infrastructure revenues from the handouts that may be coming.  It lowered guidance for the year due to the downturn in the commercial construction market.  Earnings were $0.30 EPS and revenue rose 4% to $343.5 million.  Thomson Reuters estimates were $0.29 EPS and $339.7 million in revenues.  It sees Q2 earnings of $0.20 to $0.23 EPS and $310 to $330 million in revenues, while it sees 2010 at $1.08 to $1.18 EPS and $1.4 to $1.5 billion.  Thomson Reuters was looking for $0.30 EPS and $354.7 million in revenues and the year estimates were $1.32 EPS and almost $1.50 billion in revenues.

  • Tetra Tech, Inc. $25.07 close…  down 10.25% at $22.50 on 13,591 shares

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