Sales at Viacom sank on weak ratings. A decline in domestic ad revenue weighed on the media giant’s top line. Foreign exchange issues and a drop in filmed entertainment sales didn’t help either. The MTV owner’s profit beat for the quarter. Still, shares fell almost four percent to $69.47.
Time Warner Cable
Time Warner Cable missed on both fronts. The cable operator said it did see a record number of subscribers in the quarter. As for the takeover deal with Comcast that fell apart, the CEO says he’s still looking to create value for stockholders. Shares were off by 1.5 percent to $155.39.
Sony says it will bounce back to profit for the first time in three years, helped by strong sales of camera sensors and cost cuts. This as the Japanese consumer electronics maker seeks to turn around its loss-making mobile phone business. But results came in below average estimates. Shares fell 1.5 percent to $30.24.
Beazer Homes announced a loss that was smaller than analysts were expecting. The home builder’s revenue topped forecasts as new orders jumped more than 20-percent. Shares were off a fraction on this down day to close at $17.51.
Cigna’s quarterlies trumped the Street’s estimates and it upped its full-year outlook. This as the insurer added more customers and increased premiums. Shares fell more than 1.5 percent to $124.60.
After the closing bell AIG said first quarter earnings fell slightly. This as low interest rates and weaker returns from alternative investments offset improvements in the company’s commercial lending business. The insurer authorized a buyback of $3.5 billion worth of shares. Shares were higher initially after the close. Before the bell, AIG was off a fraction to $56.29.
A weak outlook sent shares of LinkedIn plunging after the close. The social network for professionals missed analyst targets and slashed its full year earnings and revenue projections. Shares were down as much as 26-percent. In regular trading the stock was off $5 to close at $252.15.
Gilead sciences declared its first quarterly cash dividend of 43 cents a share. That came along with the drugmaker’s earnings results, which were better than estimates. After the close the stock popped initially. Before the bell shares fell, along with the market, almost two percent to $100.54.