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MARKET NEWS: SunPower Corp (SPWR), Herbalife (NYSE: HLF), UniFirst (NYSE: UNF) Lead Gainers in Jan. 3 After-Hours

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GAINERS

SunPower Corporation (NASDAQ: SPWR-9.08 +2.95; 47.97pct) Lazard analyst upgraded the company’s stock from Neutral to Buy, with an $11 price target, a day after the firm sold its Antelope Valley solar projects in southern California to Berkshire Hathaway for over $2 billion.

Herbalife Ltd. (NYSE: HLF – 36.36 +4.16; 12.90pct) Herbalife is planning an investor and analysts conference on Jan. 10 to rebut accusations by Ackman that the firm is a pyramiding scheme. Herbalife vowed to produce almost 500 jobs in a three-year span.

UniFirst Corp. (NYSE: UNF – 81.88 +6.18; (8.16 pct) The fiscal Q1 profit of UniFirst Corp. exceeded a stronger-than-expected 19 pct, as the uniform-rental firm’s main laundry business continued to perform solidly. The firm also hiked its guidance for the 2013.

Ross Stores, Inc. (NASDAQ: ROST – 58.79 +4.35; 7.98 pct) The firm announced comparable store profits for December 2012 rose more than 6 percent and ROST hiked its earnings guidance.

First Solar, Inc. (NASDAQ: FSLR – 34.42 +2.43; 7.58 pct) The solar power firm received a boost from an analyst upgrade as well as a huge upward move by another huge market player, SunPower Corp as well as an announcement from China that it will “reform” the industry by promoting acquisitions and mergers.

LOSERS

Mellanox Technologies, Ltd. (NASDAQ: MLNX – 50.71 -10.50; -17.13 pct) MLNX reported that the company’s Q4 revenue is expected to be in the range of $120 million to $122 million, just below its previous guidance of $146 million to $151 million.

Family Dollar Stores, Inc. (NYSE: FDO – 55.73 -8.29; -12.95 pct) The latest quarterly financial results of FDO showed profits hampered as the company stocks up on low-profit goods its rivals often carry. FDO likewise cut its projections for the current year.

Fortinet, Inc. (NASDAQ: FTNT – 19.32 -1.85; -8.77 pct) FTNT announced the firm continues to keep its market lead in the worldwide Unified Threat Management (UTM) market, based on reports by Frost & Sullivan.

About Jet Encila

Jet has been writing about the stock market, finance, business and tech news for most of his online writing career.
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