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Shares of Verizon Communications Inc. (NYSE:VZ) and Apple Inc. (NASDAQ:AAPL) are attracting attention in late trading. Verizon announced at the Citi 2012 Entertainment, Media and Telecomm Conference that it came “extremely close” to selling 11 million Apple iPhones in 2011.
Zumiez Inc. (NASDAQ:ZUMZ) shares are zooming more than 11 percent higher after the closing bell. The company raised its fourth-quarter guidance and reported a 10 percent jump in same-store sales. Shares of clothing competitor Hot Topic Inc. (NASDAQ:HOTT) also jumped 7 percent after the closing bell.
Investing Insights: E-Commerce Delivers Big Numbers for UPS and FedEx.
Qualcomm Inc. (NASDAQ:QCOM) shares managed to close the day 1 percent higher. CFA John Gavin voiced his concerns about the company’s accounting. He says, “There is a strong case to be made that Qualcomm has a material accounting risk that remains largely undiscounted despite the company having first disclosed elements of it over a year ago in November 2010. This could put investors at risk for a negative surprise in 2012.”
Don’t Miss: Aloca Kicks Off 2012 Earnings Season with These Expectations.
Shares of Sirius XM Radio Inc. (NASDAQ:SIRI) are bouncing 2.19 percent after saying it ended the year with nearly 22 million subscribers, which is above prior guidance. The company saw 540,000 net new subscribers in the fourth quarter. Shares of Pandora Media Inc. (NYSE:P) are also edging higher in late trading.
Mosaic Co. (NYSE:MOS) shares gained .19 percent in extended trading. The company announced better than expected second quarter earnings. Mosaic posted $1.40 EPS, 12 cents ahead of analysts’ expectations.
Investor Insights: Mosaic Company Earnings: Profit Drop Breaks Four Consecutive Quarters of Growing Profits.
To contact the reporter on this story: Eric McWhinnie at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
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