(By Salman - iStockAnalyst Writer)US stocks slumped on Thursday after an unexpected drop in manufacturing activity triggered economic fears.
Below we highlight few companies whose shares are making notable moves in Thursday's session.
Comcast Corp. (NASDAQ:
CMCSA): Shares of the cable-systems powerhouse plummeted over 6% on Thursday after it denied a published report that it has reached a deal to acquire NBC Universal from General Electric. According to reports published late Wednesday, an agreement had been reached in which Comcast would purchase NBC Universal for $35 billion. However, Comcast promptly denied the report. "While we do not normally comment on M&A rumors, the report that Comcast has a deal to purchase NBC Universal is inaccurate," the company said. It seems that investors and analysts are not much pleased with the idea of Comcast acquiring NBC Universal partially or fully as the deal is not expected to bring much strategic value.
Lawson Software Inc. (NASDAQ:
LWSN): The company late Wednesday reported quarterly results that exceeded analyst estimates. Lawson Software swung to a fiscal first quarter profit of $6 million, or 4 cents per share, compared with a loss of $3.7 million, or 2 cents per share, in the year-ago quarter. On an adjusted basis, the company earned 9 cents per share. Revenue slipped nearly 12 percent to $169 million. Software revenue climbed 1% to $111.4 million while consulting revenue plunged 29% to $57.6 million. Analysts on average were looking for profit of 5 cents per share on revenue of $161.9 million. The company managed to cut operating expenses by 14% to $77.7 million. The Saint Paul, Minnesota-based company projected earnings of 3 cents per share in its second fiscal quarter, which ends Nov. 30.On an adjusted basis, it expects to earn in the range of 7 cents to 9 cents per share. It earned 3 cents per share, or 10 cents per share when excluding items, in the year-ago period. The company expects to report revenue in the range of $175 million to $180 million in the quarter, which is lower than the $206.4 million it earned last year. Analysts, on average, are currently expecting the company to report earnings of 9 cents per share on revenue of $176.2 million. For Full fiscal year 2010, the company expects adjusted earnings to rise 8 to 10 percent from prior year in which its earnings excluding several items totaled $58.7 million, or 35 cents per share. Shares of the company were up 2% on Thursday.
UAL Corp.
