3 Stocks to Watch on Thursday: NetApp Inc. (NTAP), Sun Life Financial Inc (SLF) and Teva Pharmaceutical Industries Ltd (ADR) (TEVA)

U.S. equities were on a roll Wednesday following a strong Consumer Price Inflation report and a 4.1% increase from gold miner stocks.The S&P 500 Index gained 1.3%, the Dow Jones Industrial Average surged 1% and the Nasdaq Composite soared 1.9%.

3 Stocks to Watch on Thursday: NetApp Inc. (NTAP), Sun Life Financial Inc (SLF) and Teva Pharmaceutical Industries Ltd (ADR) (TEVA)NetApp Inc. (NASDAQ:NTAP), Sun Life Financial Inc (NYSE:SLF) and Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) all made headlines after hours Wednesday.

Here’s what you should know:

NetApp Inc. (NTAP)

NetApp shares fell despite the company’s quarterly revenue beat.

The software and systems services provider posted third-quarter adjusted earnings of $273 million, or 99 cents per share. The Wall Street consensus estimate called for adjusted earnings of 91 cents per share.

NetApp also topped estimates slightly on the revenue front as the company raked in sales of $1.52 billion, beating analysts’ expectations of $1.49 billion. The figure also rose 8% year-over-year.

“We saw a solid demand environment and customer momentum, landing wins and footprint expansions with leading organizations in all geographies,” said NetApp CEO George Kurian, in prepared remarks.

For its fiscal fourth quarter, the company forecasts revenue in the range of $1.525 billion to $1.675 billion with the midpoint being $1.6 billion, ahead of the Wall Street consensus estimate of $1.56 billion.

As far as adjusted earnings go, NetApp projects that it will earn between 95 cents and $1.03 per share, in line with analysts’ guidance of $1 per share.The company ended the quarter with $5.6 billion in cash and equivalents.

NTAP stock plummeted 10.1% after the bell Wednesday.

Sun Life Financial Inc (SLF)

Sun Life Financial’s latest quarter yielded results that were ahead of what Wall Street was calling for.

The company posted a bottom line of C$641 million ($513.11 million), or C$1.05 (84 cents) per share, topping the year-ago total of C$560 million ($448.27 million), or C$91 cents (72.84 cents) per share thanks in part to a profit increase from the company’s U.S. group benefits business.

Analysts were calling for Sun Life Financial post adjusted earnings — excluding special items — of C$1.03 (82 cents) per share, according to data compiled by Thomson Reuters.

Revenue for the company’s fourth quarter came in at C$8 billion ($6.4 billion), which marked a 6.2% gain compared to the year-ago revenue total of C$7.53 billion ($6.03 billion).

SLF stock was trading flat after Wednesday’s market close.

Teva Pharmaceutical Industries Ltd (ADR) (TEVA)

Teva Pharmaceutical had a positive afternoon as a major hedge fund invested in the company.

Warren Buffett and his conglomerate Berkshire Hathaway Inc. (NYSE:BRK.A, NYSE:BRK.B) announced in a quarterly regulatory filing Wednesday that the fund had assumed a position at the pharmaceutical company.

Buffett and his company reportedly hold 18.9 million ADRs of Teva Pharmaceutical. Berkshire Hathaway also announced a 23.3% rise in its holdings of Apple Inc. (NASDAQ:AAPL) shares to 165 million.

The fund also increased its holdings of Bank of New York Mellon Corp (NYSE:BK) to 60.8 million shares, but cut its holdings of International Business Machines Corp. (NYSE:IBM) by 94% to a bit more than 2 million shares.

Buffett also reduced his Wells Fargo & Co (NYSE:WFC) stake by 6 million shares to 458 million, as well as its stake in General Motors Company (NYSE:GM) by 10 million shares to 50 million.

TEVA shares soared nearly 8% after hours Wednesday on the news. AAPL stock surged 0.6%, BRK.A shares were trading flat, BK stock rose 0.9%, IBM shares gained 0.1%, WFC stock fell 0.9% and GM stock edged 0.2% higher.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2018/02/3-stocks-watch-thursday-netapp-inc-ntap-sun-life-financial-inc-slf-teva-pharmaceutical-industries-ltd-adr-teva/.

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