Stocks to Watch: CRM, MRVL & More
U.S.-listed shares of European banks including Barclays [BCS 11.37 -0.59 (-4.93%) ] and Deutsche Bank [DB 35.84 -0.55 (-1.51%) ] were trading lower. Meanwhile, large U.S. financials including JPMorgan [JPM 33.93 -1.53 (-4.31%) ], Citigroup [C 26.41 -0.51 (-1.89%) ]and Morgan Stanley [MS 13.46 -0.08 (-0.59%) ] were trading mixed.
Facebook priced its historic IPO at $38 a share, at the high end of the expected range of $34-$38, becoming the largest internet IPO in history. Facebook is set to begin trading Friday at around 11 am ET on the Nasdaq under the ticker “FB.” Other social network companies including Zynga [ZNGA 8.27 0.05 (+0.61%) ], LinkedIn [LNKD 104.95 -8.54 (-7.52%) ] and Renren[RENN 6.24 -0.01 (-0.16%) ] were trading mixed.
Boston Scientific [BSX 6.10 0.01 (+0.16%) ] - The medical device maker announced it received FDA approval and U.S. launch of its Epic Vascular stent, which is designed to open blocked arteries in patients with iliac artery stenosis. The stock jumped in extended-hours trading.
Aeropostale [ARO 17.71 -1.00 (-5.34%) ] - The teen apparel retailer posted earnings of 13 cents a share, in line with Wall Street expectations. Meanwhile, the firm handed in guidance that came in on the lower end of expectations, pushing shares lower in extended-hours trading.
Applied Materials [AMAT 10.48 -0.18 (-1.69%) ] - The tech firm posted earnings of 27 cents a share on revenue of $2.54 billion, exceeding expectations for 24 cents a share on sales of $2.40 billion. Shares edged higher in extended-hours trading.
Gap [GPS 26.31 -0.79 (-2.92%) ] - The clothing retailer posted earnings of 47 cents a share on revenue of $3.49 billion, edging past expectations for 46 cents a share on sales of $3.48 billion. The firm also handed in a full-year guidance that mostly came in line with expectations. Still, shares were slightly lower in extended-hours trading.
Marvell Tech [MRVL 13.30 -0.26 (-1.92%) ] - The semiconductor company posted earnings of 23 cents a share, excluding one-time items, on revenue of $796 million, beating expectations for 20 cents a share on sales of $769 million. Shares rallied in extended-hours trading.
Intuit [INTU 54.41 -0.69 (-1.25%) ] - The software company posted earnings of $2.51 a share, excluding one-time items, on revenue of $1.95 billion. Analysts were expecting a profit of $2.48 a share on sales of $1.96 billion. Meanwhile, the firm handed in a full-year revenue outlook that came in below estimates, sending shares lower in extended-hours trading.
Salesforce.com [CRM 133.80 -2.78 (-2.04%) ] - The cloud-computing company posted earnings of 37 cents a share, ex-items, on revenue of $695 million, topping projections for 34 cents a share on revenue of $678 million. In addition, the firm raised its current quarter and 2013 full-year revenue guidance, sending shares sharply higher in extended-hours trading.
Zumiez [ZUMZ 35.16 -1.75 (-4.74%) ] - The specialty apparel store posted earnings of 14 cents a share on revenue of $130 million, edging past expectations for 11 cents a share on revenue of $129 million. Shares edged higher in extended-hours trading.
Kinder Morgan [KMI 33.00 -0.25 (-0.75%) ] will replace El Paso [EP 28.77 -0.19 (-0.66%) ] on the S&P 500 index after the close on May 24. Kinder Morgan is acquiring El Paso in a deal expected to be completed around that date.