Post-Bell RADAR: VeriFone SINKS 11%, Facebook Holds GAINS

Shares of VeriFone Systems (NYSE:PAY) plunged more than 11 percent in late afternoon hours. The company announced that third quarter sales rose 54 percent to $489.1 million, falling short of the average estimate of $498.7 million. “The revenue was a little low in the quarter, and guidance for the next quarter and the next year was lower,” said Gil Luria, an analyst at Wedbush Securities Inc., according to Bloomberg.

Despite closing 1.99 percent lower on Wednesday, FedEx (NYSE:FDX) shares recovered all the losses in late trading. The company recently announced its earnings for the most recent quarter will be negatively impacted due to the global slowdown taking place. FedEx now expects earnings to be in the range of $1.37 to $1.43 per diluted share, compared to $1.46 per diluted share a year earlier. United Parcel Service (NYSE:UPS) shares were unchanged in late trading.

Don’t Miss: FedEx Echoes GLOBAL SLOWDOWN

Nokia (NYSE:NOK) shares edged slightly higher after plummeting 15.9 percent on Wednesday. At a press event in New York, Nokia introduced the Lumia 920 and Lumia 820 smartphones. Both units use Microsoft’s (NASDAQ:MSFT) new Windows Phone 8 operating system and feature Nokia’s mapping and location services. However, many analysts were disappointed with the lack of information at the press event. Nokia failed to show off all the features of the new smartphones, and did not provide any information about pricing or carrier partners.

Shares of Facebook (NASDAQ:FB) are holding gains in late afternoon hours, after jumping almost 5 percent. According to a late Tuesday filing with the Securities and Exchange Commission, Mark Zuckerberg has no intention of selling any of his Facebook shares when a lockup expires in late October. In fact, he plans on keeping his shares in the company for at least one year. Zuckerberg is Facebook’s largest shareholder, with about 444 million shares of Class B common stock and an option for an additional 60 million Class B shares.

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