The Milpitas, Calif.-based company reported adjusted earnings of $292 million, or $1.20 a share, on revenue of $1.42 billion, up 15% year-over-year and 3% and a sequential basis. The average estimate of analysts polled by Thomson Reuters was for a profit of $1.07 a share on revenue of $1.42 billion in the September-ended period.
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"We again delivered record revenue and strong profitability, driven by robust demand in our diversified end markets," said Sanjay Mehrotra, the company's president and CEO, in a statement. "Our broad portfolio of innovative storage solutions positions us exceedingly well to capitalize on our numerous growth opportunities in smart mobile devices and consumer and enterprise computing platforms."The stock was last quoted at $46.35, up 1.9%, on volume of less than 400,000, according to Nasdaq.com. Based on Thursday's regular session close at $45.50, the shares were down more than 9% so far in 2010. Wall Street was very bullish on SanDisk ahead of the report with 21 of the 24 analysts covering the stock at either strong buy (10) or buy (11), and the 12-month median price target sitting at $58, implying potential upside of more than 25% from current levels. Chipotle Mexican Grill A nickel beat was good for a gain of nearly 4% for shares of Chipotle Mexican Grill(CMG), which posted third-quarter earnings of $60.4 million, or $1.90 a share, beating Wall Street's consensus estimate of $1.85 a share. Revenue leapt 24.1% to $591.9 million in the three months ended Sept. 30 with same-store sales rising 11.3% as traffic increased. Rising commodity costs did drive up food costs and lower operating margins slightly, but the company was able to pass some of the expenses onto consumers through price increases implemented between March and August. Chipotle also said it expects new store openings for 2011 to come in at the high end of a range of 135-145 with same-store sales expected to grow in the low double-digits. For 2012, the company forecast new store openings of 155-165 with same-store sales growth slowing to the low single-digits.
1 2 Next › Last »The stock was last quoted at $318.90, up 4%, on extended volume of more than 220,000, according to Nasdaq.com. Chipotle shares have gained more than 50% so far in 2011.
Other stocks moving in after-hours action included Seagate Technology(STX), which gained more than 9% to $13.20 on volume of more than 600,000 after the disk drive maker beat Wall Street's profit view for its fiscal first quarter, although revenue was a bit light; Microsoft(MSFT), whose ticked less than 1% lower to $26.86 on volume of nearly 3.6 million after the software giant met the consensus expectation for its quarterly profit; and Acme Packet(APKT), which fell nearly 6% to $36 on volume of almost 70,000 following a penny miss in its third quarter.
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