Wednesday’s trading session is likely to witness heavy trading in shares of Costco Wholesale Corporation (NASDAQ:COST), Williams Companies Incorporation (NYSE:WMB), Molycorp Incorporation (NYSE:MCP), Geospace Technologies Corporation (NASDAQ:GEOS), DuPont Corporation (NYSE:DD), and Genpact Ltd (NYSE:G) (FRA:35G).
Costco Wholesale Corporation (NASDAQ:COST) : The wholesale retailer reported a 30 percent increase in quarterly profits to $416 million, or 95 cents per share, compared to $320 million or 73 cents a share in the same quarter last year. Total sales increased 9.6% to $23.72 billion. Analysts were expecting first quarter earnings of 93 cents. Costco wholesale Corporation (NASDAQ:COST) has constantly beaten the Wall Street estimates for the past several quarters, as the uncertain economy encourages consumers to make bulk purchases.
Warren Buffett: If You Own A Good Business, Keep It
Buying private businesses is easier than acquiring public firms, and investors should avoid selling good investments at all costs, according to the Oracle of Omaha, Warren Buffett. Q2 2020 hedge fund letters, conferences and more In an interview with CNBC in March 2013, Buffett was asked if he was looking at any businesses, in particular, Read More
Williams Companies Incorporation (NYSE:WMB): The oil infrastructure and pipeline company has agreed to acquire a 50 percent stake in Access Midstream Partners LP (NYSE:ACMP) from Global Infrastructure Partners (GIP) and a 25 percent stake of limited partner units in the company for $2.4 billion. With this, Williams Companies Incorporation (NYSE:WMB) will strengthen its presence in 10 major shale and unconventional energy regions. Williams Companies Incorporation (NYSE:WMB) has announced plans to sell 46.5 million shares in a public offering to finance the deal. Williams Companies Incorporation (NYSE:WMB) stocks are down 3.5% to $30.28 in after hours trading.
Molycorp Incorporation (NYSE:MCP): The rare earth mining company’s board of directors has forced its president and chief executive to resign. He led the company for over five years, brought the company into the public market and upgraded the company’s facilities. Molycorp Incorporation (NYSE:MCP) stocks have declined 8.6% to $10.36 in after hours trading.
Geospace Technologies Corporation (NASDAQ:GEOS): Though the company’s fourth quarter earnings jumped 19 percent riding on stronger sales, the seismic-equipment producer sharply missed Wall Street expectations. The company’s stocks plunged 9.9% to $72 after hours.
DuPont Corporation (NYSE:DD): In an attempt to boost shareholder value, the diversified U.S. manufacturer has authorized a $1 billion share repurchase program. DuPont Corporation (NYSE:DD) shares plunged 2.4 percent to $44.75 in after hours trading.
Genpact Ltd. (NYSE:G) (FRA:35G): The business process contractor said that shareholders linked to Oak Hill Capital Partners and General Atlantic LLC were offloading 10.9 million Genpact Ltd. (NYSE:G) (FRA:35G) shares. The company said it will not receive any proceeds from the offering. Genpact Ltd. (NYSE:G) (FRA:35G) has 224.6 million outstanding shares. Stocks plunged 3.8% after hours at $6.39.