Positive Advancers: eBay (EBAY), Carnival (CCL), SouFun Holdings (SFUN)

Albany, New York (09/25/2014) – Away from the attacks that have hit its sites hard in some locations, eBay Inc (NASDAQ:EBAY)’s focus on growth appears unperturbed. The company announced collaboration with Autobutler, which is a site that collects quotes from nearby car garages, to launch a service that would allow drivers to request car repair and maintenance quotes from local garages. eBay Inc (NASDAQ:EBAY) is already a go-to-place for drivers and auto owners because of its second-hand vehicle buying and selling platform. Therefore, the launch of auto repair quotes service doesn’t come as a significant deviation for $65.46 billion online auction provider. Instead, it is an opportunity for the company to keep growing its auto service offering with the hopes of boosting its overall revenue.

Carnival Corporation (NYSE:CCL) reported a positive 3Q2014 and investors showed their love for it by sending shares up more than 1.5% on Wednesday. The $31.36 billion cruise company said its revenue in the latest quarter was $4.95 billion, which was head and shoulder above $4.73 billion in the same period a year ago. It reported net income as $1.25 billion or $1.60 per share, which compared favorably with $934 million or $1.20 per share in the prior year. On an adjusted basis, EPS in the latest quarter was $1.58, better than adjusted EPS of $1.38 a year earlier. Carnival Corporation (NYSE:CCL)’s performance in the latest quarter surpassed estimates given that analysts on the average expected EPS of $1.44 on revenue of $4.93 billion. Buoyed by the positive 3Q results, Carnival Corporation (NYSE:CCL) upped its fiscal 2014 earnings outlook such that it now expects EPS in the range of $1.84-$1.88. It previously expected EPS in the range of $1.60-$1.75.

SouFun Holdings Ltd (NYSE:SFUN) managed to advance 0.60% as concerns that the company was giving away too much to attract business subsided. The $4.11 billion Chinese real estate portal provider announced new incentives for homebuyers in an attempt to boost revenue. However, investors did not see it from that angle as they felt such huge incentives as SouFun Holdings Ltd (NYSE:SFUN) announced would hurt profits. SouFun (SFUN) is facing a biting slowdown in the Chinese real estate market, and the company doesn’t have a choice but to entice business with fat incentives. The company recently reduced its fiscal 2014 revenue guidance because of the slowdown in China. It now expects revenue in the range of $727-$739 million. It previously guided in the range of $780-796 million.

About the Author

Sally joined the US Markets Daily News Team in April 2011 as a Multimedia Journalist.

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