Acorda Therapeutics, Inc. (NASDAQ:ACOR)
A $1.3 billion biopharm company that does research into treatments for neurological problems including multiple sclerosis (MS), ACOR surprised analysts with a much smaller loss than expected. The company burnt through 18 cents a share last quarter versus estimates of a loss of 46 cents per share. The stock was up more than 5 percent at last check on high volume. The company credited demand for AMPYRA as narrowing their loss citing the fact that “4,200 Physicians have Written Prescriptions for AMPYRA as of July 30, 2010.” AMPYRA is designed to improve walking in patients with MS.
Coach, Inc. (NYSE:COH)
Coach offered a nice upside surprise by beating analysts estimates of $0.56 per share. They earned $0.64 cents per share last quarter indicating that demand for high-end products may be growing faster than products targeted at lower-income shoppers. That’s generally a good sign for the economy (but somehow it doesn’t have me convinced).
Lear Corporation (NYSE:LEA)
Lear trounced analyst estimates of $1.29 per share, instead turning in earnings of $2.96, up from a loss nearly as big a year ago. The automotive supplier indicated that they didn’t think this meant next quarter would be a big upside surprise, too. They left their estimates for 2010 net sales of about $11 billion right where it is.
Marathon Oil Corporation (NYSE:MRO)
Marathon’s second-quarter earnings surged 72 percent to $1.11 per share (analysts had expected $0.81). The company cited better oil and gas prices as well better refining margins (i.e. they cut their costs). The markets weren’t too enthusiastic, though. They pushed the stock down a half percent near the start of trading.
Radian Group Inc. (NYSE:RDN)
The giant credit and insurance company Radian got absolutely crushed last quarter. The company’s still absorbing losses from derivatives that have been stagnating on their books. Still, the loss was staggering: $4.31 per share when analysts were expecting a loss of just $0.75. The ray of light? The company reported mortgage insurance delinquencies declined for second consecutive quarter. Maybe housing is getting better?
RTI International Metals, Inc. (NYSE:RTI)
The biggest surprise of the day? RTI’s domination of the titanium market. The company reported net income of $21.6 million, or $0.72 per diluted share, compared with a net loss of $1.3 million, or $0.06 per diluted share, for the same period a year ago. Titanium prices have started a slow climb since April, and it’s finally starting to show in RTI’s earnings.
Solarfun Power Holdings Co., Ltd. (NASDAQ:SOLF)
The markets were most exuberant about Solarfun’s huge quarter. Traders showed their excitement by pushing the stock up more than 10 percent when Solarfun reported that it earned $0.59 per share last quarter. That’s more than double analyst estimates of $0.25 per share. The company’s also not shying away from bold predictions. They boosted their outlook on increased demand and rapidly ramped up manufacturing capacity.