A boost in chicken and beef sales helped Tyson Foods grow profit. Tyson’s net-income surged more than 40% in the fourth quarter. Earnings and revenue beat estimates and the company raised its dividend 50%. That sent shares up more than 2% to $29.42.
Salesforce.com saw quarterly revenue increase, beating analysts estimates slightly. The cloud-computing company posted earnings after the bell that were in-line with forecasts and it also issued a mixed outlook. The stock closed the regular session down 3% to $55.51 and rose just a bit in after-hours trading.
Also out with earnings after the bell, Urban Outfitters. It reported a record third quarter, beating both earnings and revenue estimates. Quarterly profit increased 18% driven by strong growth thanks to its Anthropologie and Free People retail chains. The stock rose in after-hours. Shares finished the regular session down 1% to $39.64.
Supervalu was hit with a downgrade from Goldman Sachs today. That sent shares of the grocery chain way down. Goldman lowered its rating to a “sell” because of headwinds like recent food stamp cuts and increased competition. The stock plummeted almost 9% to $6.28.
Bank of America Merrill Lynch thinks the market is a little too excited about Microsoft’s CEO transition. An analyst downgraded the stock from “neutral” to “underperform” saying that there could be a 10% drop off if Ford’s Alan Mulally isn’t selected as Microsoft’s next CEO. An announcement is expected next month. That sent shares down more than 1.5% to $37.20.
Chinese solar equipment maker, Jinkosolar, posted a second straight quarterly profit, sending shares to a 3-year high. Increased electricity revenue from solar projects helped the company post strong results. Jinkosolar also upped its shipment forecast. The bright outlook sent the stock up nearly 13% to $13.30.
Sony sold 1 million PlayStation 4 consoles in its debut Friday, the fastest start for a PlayStation system ever. Sales are being watched closely since Sony is depending on the PS4 to revive its customer electronics business. Some customers reported glitches with the device, but that didn’t seem to spook investors. Shares rose 1% to $18.72.