Morning Stocks: AOL, Express Scripts And Vringo Plunge
Shares of AOL (NYSE:AOL) AOL shares surged on Tuesday, but are trading lower this morning and dropped to 1.37 percent. Net income came in at $20.8 million (22 cents per share), compared to a net loss of $2.6 million (2 cents per share) a year earlier. Analysts were expecting earnings per share of about 18 cents. Total revenue for the quarter was flat at $531.7 million, but higher than the average estimate of $521.6 million.
Express Scripts Holding (NASDAQ:ESRX) plunged 1.00 percent today. The company reported net income of $391.4 million (47 cents per share) for the third quarter, compared to $324.7 million (66 cents per share) a year earlier. However, Express Scripts said analysts forecasts for its 2013 earnings were “overly aggressive,” citing an expected loss of claims from its UnitedHealthcare (NYSE:UNH) business.
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Vringo (AMEX:VRNG) shares plunged on Tuesday. The technology firm was awarded $16 million in damages and a royalty on Google (NASDAQ:GOOG) search ad revenue through 2016 after winning its patent case against the search company on Tuesday. Vringo was originally seeking nearly $500 million, but U.S. District Judge Raymond A. Jackson limited damages to just the past year.
Shares of Arena Pharmaceuticals (NASDAQ:ARNA) edged slightly higher today. The company’s loss narrowed to $15.5 million in the third quarter, compared to a loss of $22.7 million a year earlier. Revenue dropped 57.1 percent to $1.5 million.
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