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Broadcom, OpenTable, Peet’s, TripAdvisor: U.S. Equity Preview
2012-05-02 07:57:00

Standard & Poor’s 500 Index futures expiring in June rose less than 0.1 percent to 1,400.9.

Bankrate Inc. (RATE) erased 11 percent to $21.10. The online publisher of personal finance information reported first- quarter earnings and revenue that fell short of the average analyst estimate.

Broadcom Corp. (BRCM) slipped 0.8 percent to $36.40. The maker of chips that help mobile devices connect to the Internet forecast second-quarter sales that may exceed some analysts’ estimates, lifted by increasing orders from smartphone makers.

Genworth Financial Inc. (GNW) jumped 5.7 percent to $6.50. The mortgage guarantor and life insurer whose shares have plunged more than 80 percent since the end of 2006 said Chief Executive Officer Michael Fraizer resigned. Chief Financial Officer Martin Klein has been named acting CEO, the insurer said in a statement.

OpenTable Inc. (OPEN) tumbled 20 percent to $35.12. The online restaurant-reservation service forecast revenue in 2012 of no more than $164 million, compared with the average analyst estimate of $168.5 million.

Peet’s Coffee & Tea Inc. (PEET) sank 5.4 percent to $71.20. The maker of whole bean coffee posted a first-quarter profit of 25 cents a share, missing the average analyst estimate of 31 cents.

Plantronics Inc. (PLT) lost 2.6 percent to $36.95. The maker of headsets forecast first-quarter earnings of no more than 63 cents a share, lower than the 68-cent profit projected by analysts on average.

Thoratec Corp. (THOR) climbed 8 percent to $37.25. The maker of implantable heart devices forecast earnings in 2012 of at least $1.62 a share, topping the average analyst estimate by 1 cent.

Trimas Corp. (TRS) : The maker of trailer hitches said it will sell 4 million shares in a public offering. Proceeds will be used for general corporate purposes.

TripAdvisor Inc. (TRIP) rallied 16 percent to $42.35. The online travel-recommendation service spun off from Expedia Inc. reported first-quarter profit and sales that topped some analysts’ estimates.

True Religion Apparel Inc. (TRLG) jumped 9.3 percent to $30.47. The seller of jeans initiated a quarterly dividend of 20 cents a share and announced plans to buy back $30 million in shares.

To contact the reporter on this story: Inyoung Hwang in New York at ihwang7@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

http://www.bloomberg.com/news/2012-05-01/broadcom-opentable-peet-s-tripadvisor-u-s-equity-preview.html





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