Stocks RINGING After the Bell: Oracle Surprises, JCP President BAILS, Microsoft’s New Release
Oracle Corp. (NASDAQ:ORCL) shares popped more than 3.5 percent after the closing bell. The company said it earned 82 cents per share for the fiscal fourth-quarter, excluding one-time items. Analysts were expecting earnings per share of about 78 cents. The results were announced three days earlier than expected.
J.C. Penney Co. (NYSE:JCP) shares plunged 5.88 percent in late trading. The department store operator unexpectedly announced that President Michael Francis is leaving, effective Monday. No reason was given and Francis had only been with JCP since October, near the time when former Apple Inc. (NASDAQ:AAPL) executive Ron Johnson also joined the company. Both had previously worked together at Target Corp. (NYSE:TGT).
After gaining 4.65 percent during regular hours, Facebook (NASDAQ:FB) shares continued to edge higher after the closing bell. On Monday, the social media company purchased Face.com, the company that provides facial-recognition technology used by social networks to help users identify and tag photos, to its list of acquisitions. The technology scans photos to match them with faces in previous pictures and then suggests tags.
Groupon Inc. (NASDAQ:GRPN) shares surged 10.83 percent on Monday and continued to add to gains in extended hours. The online company received an upgrade to Overweight from Morgan Stanley (NYSE:MS). The firm has a price target of $18 on shares and believes competitors such as Google Inc. (NASDAQ:GOOG) and Amazon.com Inc. (NASDAQ:AMZN) have “not gained meaningful traction or deployed new innovations.”
Shares of Microsoft Corp. (NASDAQ:MSFT) gained .84 percent during its special event late Monday. Microsoft released its news of its entrance into the tablet market with its new ‘Surface Tablet,’ which will operate Windows 8. The dimensions of the tablet mirror the size of the iPad. Should Apple be worried about big Microsofty competition?
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