After-Hours Movers 7/1: Apollo Group (APOL) Higher on Results; Lithia Motors (LAD) Lower After Pulling Guidance
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StreetInsider.com After-Hours Movers:
Apollo Group (Nasdaq: APOL) reports Q3 EPS of $0.85, 7 cents better than the analyst estimate of $0.78. Revenues for the quarter were $835.2 million, versus the consensus of $806.89 million. Announces a $500 million buyback.
Lithia Motors, Inc. (NYSE: LAD) 9% LOWER; is withdrawing its earnings guidance for the second quarter and year-end 2008.
Starbucks Corporation (NASDAQ: SBUX) 6.5% HIGHER; announced the next step in its multi-faceted plan to transform the company, with a decision to close approximately 600 underperforming company-operated stores in the U.S. market. This decision is a result of a rigorous evaluation of the U.S. company-operated store portfolio and includes the 100 stores targeted for closure in the company's previously announced plans. In addition, Starbucks now expects to open fewer than 200 new U.S. company-operated stores in fiscal 2009.
Dish Network Corp. (Nasdaq: DISH) 3% LOWER; In an 8-K filing Dish Network Corp. (Nasdaq: DISH) disclosed it received a notice of termination from AT&T (NYSE: T) under the Commercial Agreement.
On June 30, 2008, DISH Network L.L.C. received a notice of termination from AT&T Inc. under the Commercial Agreement, dated as of July 20, 2003, as amended, between AT&T and DISH Network. The Commercial Agreement governs the commercial relationship between AT&T and DISH Network pursuant to which AT&T markets DISH Network programming services. As a result of the notice from AT&T, the Commercial Agreement will terminate on December 31, 2008. NOTE: Headlines from Bloomberg, that AT&T and DISH are continuing to discuss options.
Strayer Education Inc. (Nasdaq: STRA) 2.6% HIGHER; Better-than-expected results from Apollo Group
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