Salesforce.com Inc. (NYSE: CRM) reported Thursday that its first-quarter profit dropped to $530,000, or break even on a per share basis, from $17.7 million, or 13 cents a share, in the year-ago period. On an adjusted basis, the company earned 28 cents a share. Revenue climbed 34% to $504.4 million. Analysts, on average, had expected the company to report adjusted earnings of 27 cents a share on revenue of $482.6 million.
Shares of Anadarko Petroleum Corp. (NYSE: APC) rallied more than 5% in Friday's pre-market trading after BP announced that Mitsui & Co. Ltd.—which had a 10% interest in the blown-out Macondo well—agreed to pay the U.K. oil giant nearly $1.1 billion.
Gap Inc. (NYSE: GPS) reported that its first quarter profit declined 23% to $233 million, or 40 cents a share, from $302 million, or 45 cents a share, in the prior-year quarter. Revenue slipped 1% to $3.3 billion from $3.33 billion. Analysts, on average, expected the company to report earnings of 39 cents per share on revenue of $3.26 billion. Looking ahead, the company cut its fiscal year 2011 earnings outlook to a range of $1.40 to $1.50 per share from its prior outlook of $1.88 to $1.93 per share.
Shares of Barnes & Noble, Inc. (NYSE: BKS) surged more than 31% in Friday's pre-market trading after the company announced that the Special Committee of its Board of Directors has received a proposal from Liberty Media to acquire the Company at a price of $17 per share in cash. The proposal states that it is contingent on the participation of founding chairman Leonard Riggio, both in terms of his continuing equity ownership and his continuing role in management.
Shares of MetroPCS (NYSE: PCS) declined more than 2% in Friday's pre-market trading after JPMorgan downgraded its rating on the company to Neutral from Overweight.
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