Diamonds and Dogs
5/24/12NetApp Inc. (NTAP)
NetApp Inc. is netting a large loss today, down 12.29% at $28.82. Shares of NetApp Inc. slid to their lowest point in two and a half years after the technology company disappointed investors with its outlook. The company predicted that the current quarter profit will be 34 cents to 39 cents per share on revenue of $1.4 billion to $1.5 billion. Analysts estimated earnings of 59 cents per share on revenue of $1.6 billion. The company blamed "increasing uncertainty" in the global economy for its lower forecast. R.W. Baird's Jayson Noland said that investors should buy the stock due to the drop. He also continued to back his "outperform" rating on the company's shares, however he reduced his price target to $40 from $50.
Toro Co. (TTC)
Toro Co. is a bull today, up 9.70% at $74.72. The turf and lawn care company saw its profit jumped 14 percent during the second-quarter as unseasonably warm weather got people thinking about the smell of fresh-cut grass. Toro easily topped Wall Street expectations and it boosted its profit and sales outlook for the full year. For the quarter ended May 4, the company earned $68.8 million, or $2.26 per share, up from $60.3 million, or $1.88 per share, in the same quarter last year. Also revenue rose 9.5 percent to $691.5 million from $631.6 million. Analysts expected a profit of $2.12 per share on $676.4 million in revenue. The great earnings report boosted the company to an all-time high. The company also declared a two-for-one stock split as well. The 100 percent stock dividend will be distributed June 29 to shareholders of as of June 15.
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