The stock market had a modest start to the month of June as oil prices fell back down to below $50 a barrel. The S&P 500 edged 0.1% higher Wednesday, while the Dow Jones Industrial Average inched 0.01% at day’s end.
Ciena Corporation (NYSE:CIEN) and Joy Global Inc. (NYSE:JOY) just shared earnings news with investors, while Dermira Inc (NASDAQ:DERM) released some promising news of its own.
And all three will be on the move in Thursday’s trading. Here’s a closer look at what will be doing the pushing:
Ciena Corporation (CIEN)
CIEN shares look to pop by double digits on the merit of its fiscal second quarter’s results simply being less bad than expected.
The telecommunications-equipment firm managed to , which was a 32% drop from the year-ago period. On an adjusted basis, though, earnings of 34 cents per share were enough to top expectations of 27 cents per share.
Revenues of $640.7 million topped analyst estimates for $630.74 million, and were on the high side of the company’s own guidance range.
Ciena’s performance was led by a strong push from the Asia Pacific region, which grew revenues from $74.3 million to $91.1 million to make up 14.3% of overall revs.
CIEN stock was soaring by more than 11% in Thursday’s premarket action.
Dermira Inc (DERM)
Dermira had some positive news Wednesday as its experimental therapy for excessive underarm sweating .
The company’s treatment, DRM04, “demonstrated statistically significant improvements” for endpoints in a pair of trials. Patients successfully completed two Dermira trials that helped 697 people reduce their sweating by 52.8% for patients treated with the medication and 28.3% for the control group.
Current treatment options , as well as botox injections and lasers, among others.
Demira sees a large market for DRM04, as about 7.8 million people (2.8% of the population) suffers from hyperhidrosis — an overactive sweating condition.
DERM was up nearly 5% in Thursday’s premarket trade.
Joy Global Inc. (JOY)
JOY shares were also popping early Thursday on its own Street-beating results.
Joy Global earned an adjusted 9 cents per share for its latest quarter, topping expectations for a breakeven quarter.
Most of Joy’s other financials weren’t as positive, however.
Revenues were off 26% to $602 million, which missed analysts’ estimates for $608 million. And on a GAAP basis, the company actually lost $9.8 million, which was down from a $56 million profit in the year-ago period.
Additionally, the company says it believes it will fall on the low end of its full-year forecasts. The company currently sees non-GAAP earnings of 10 to 50 cents per share on revenues of $2.4 billion to $2.6 billion.
Nonetheless, the earnings beat seemed to be enough to lift JOY stock, which was up 8% before Thursday’s bell.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
