These are the most active stocks this afternoon.
Universal Display Corporation (OLED)
Shares of OLED are up nearly 16%, or $27 a share on volume of 1.7 million shares.
All after the company reported better-than-expected earnings and revenue.
It just posted third-quarter net income of $37 million, or 78 cents a share, as compared to $22.8 million, or 48 cents a share, year over year. Revenue jumped to $97.5 million from $77.6 million a year ago. Analysts were only looking for 58 cents on sales of $85.9 million. The company also revised its guidance to full-year revenue of $400 million to $410 million.
Kraft Heinz Co. (KHC)
After a terrible year, KHC is rocketing on an earnings beat.
While quarterly earnings topped estimates, sales continued to fall.
“While our third-quarter results remain below our potential, we showed sequential improvement versus the first half, and I believe we are beginning to operate the business better,” CEO Miguel Patricio said, as quoted by CNBC. “We are making good progress in identifying and addressing the root causes of past performance, as well as setting our strategic direction.”
EPS of 69 cents was better than expectations for 54 cents. Revenue of $6.08 billion did fall short of estimates for $6.13 billion. The company is developing a plan for a 2020 turnaround.
World Wrestling Entertainment Inc. (WWE)
Shares of WWE were slammed after posting sales that missed forecasts, and after it lowered its profit forecast. All after noting its inability to sign a new deal in the Middle East.
Net income fell to $5.8 million, or 6 cents a share, from $33.6 million, or 37 cents a share, year over year. Revenue fell 1% To $186.3 million, missing estimates for $191.5 million. Media revenue was up nearly 3% to $146.1 million, but missed estimates for $146.8 million. Live events revenue dropped 13% to $23.2 million missing calls for $26.1 million. Consumer products revenue fell 13% to $17.0 million, as noted by MarketWatch.
