7 Stocks Hitting Radars: Salesforce Surges 10%, AIG Climbs 3% and Crocs Get Crushed 11%
Shares of Salesforce.com Inc. (NYSE:CRM) surged 10 percent in late trading. The company reported fourth quarter revenue of $631.9 million, an increase of 38.3 percent from the year-earlier quarter. “Salesforce.com’s 38% revenue growth in the fourth quarter was a spectacular finish to our fiscal year, a year in which we delivered 37% revenue growth and added nearly 2,500 employees, including nearly 2,000 in the U.S.,” said Marc Benioff, the company’s chief executive officer.
American International Group Inc. (NYSE:AIG) shares bounced 3.3 percent higher after the closing bell. The company reported net income above expectations. For the fourth quarter, net income increased 79 percent to $19.8 billion, compared to $11.05 billion a year earlier.
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Gap Inc. (NYSE:GPS) shares declined 1 percent after reporting fourth quarter results. The clothing retailer reported a 40.3 percent decline in net income to $218 million, compared to $365 million a year earlier.
Despite reporting a 17.8 percent increase in net income, shares of Crocs Inc. (NASDAQ:CROX) were crushed 11 percent in late trading. Net income for the company increased to $5.6 million (6 cents per share), compared to $4.7 million (5 cents per share) a year earlier.
Molycorp Inc. (NYSE:MCP) shares fell 1 percent in extended trading. The rare earth company reported net income of $26.6 million (26 cents per share), compared to a net loss of $7.9 million a year earlier.
TiVo Inc. (NASDAQ:TIVO) shares dropped more than 2 percent after reporting fourth quarter results. The company earned $7.2 million (6 cents per share), compared to a net loss of $34.4 million a year earlier. Earnings were boosted from the company’s patent litigation settlement with AT&T (NYSE:T).
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