By Wallace Witkowski, MarketWatch
SAN FRANCISCO (MarketWatch) -- Netflix Inc. shares surged on Monday after the on-demand-video provider topped Wall Street earnings estimates and gave a healthy forecast.
Netflix (NFLX) shares rallied 10.3% to $391.52 on heavy volume in after-hours activity.
The Los Gatos, Calif.-based company reported third-quarter earnings of 52 cents a share on revenue of $1.1 billion. Analysts surveyed by FactSet had expected 48 cents a share on revenue of $1.1 billion. The company's was also well ahead of targets.
Subscriptions also came in at the high end of the expected range with the company reporting total domestic subscribers of 31.09 million. Read MarketWatch's live blog of the Netflix earnings call.
VMware Inc. shares rose 9.2% to $90.27 on heavy volume after the company's adjusted third-quarter earnings topped consensus estimates. Revenue was in line with forecasts. VMware reported adjusted earnings of 84 cents a share on revenue of $1.29 billion, while analysts expected earnings of 82 cents a share on revenue of $1.29 billion.
Discover Financial Services (DFS) shares fell 2.8% to $52.25 in heavy trading after the firm reported third-quarter earnings of $1.20 a share on revenue net of interest expense of $2.06 billion. Analysts expected $1.21 a share on revenue of $2.06 billion.
Texas Instruments Inc. (TXN) shares were off by 3.5% at $39.55 on heavy volume after the company's fourth-quarter outlook fell short of estimates.
Shares of TJX Cos. (TJX) rose 3.3% to $59.50 in moderate trading after the operator of T.J. Maxx and Marshalls stores raised its outlook for the third quarter ahead of an investor event.
Rent-A-Center Inc. (RCII) shares fell 5.6% to $34 on moderate volume after the company cuts its guidance for the year after missing Wall Street expectations for the third quarter.
-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
10-21-13 1840ETCopyright (c) 2013 Dow Jones & Company, Inc.
|UPDATE: VeriFone shares surge after earnings, outlook (2014/3/11)|
|UPDATE: Bed Bath & Beyond shares drop after earnings, outlook ()|
|UPDATE: Google, Chipotle shares jump after earnings (2013/10/17)|
|Bed Bath & Beyond shares drop after earnings, outlook (2014/1/8)|
|Ascena Retail shares jump after earnings (2013/9/24)|
|UPDATE: Facebook shares surge after earnings beat (2014/1/29)|
|UPDATE: Google shares jump on earnings, sales beat ()|
|UPDATE: Intel shares drop after earnings miss Street view (2014/1/16)|
|UPDATE: Ulta shares surge after earnings report (2014/3/13)|
|UPDATE: Salesforce shares volatile after earnings report (2013/11/18)|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Access Your Portfolio Anytime, Anywhere via Your Mobile Device|
|P||Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)|
|P||Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)|
|P||Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.