Mercury Systems Inc (NASDAQ:MRCY) stock rallied Wednesday after the defense electronics company reported fiscal second-quarter earnings that beat Wall Street estimates. For the quarter ended December 2018, the Andover, Massachusetts-based company posted earnings of $0.47 per share on revenue of $159.1 million. The consensus earnings estimate was $0.42 per share on revenue of $154.5 million. Revenue grew 34.9% on a year-over-year basis. Mercury Systems which provides sensor and safety-critical mission processing subsystems has worked on over 300 programs, including Aegis, Patriot, Gorgon Stare and Predator/Reaper.
Shares in Mercury Systems climbed 16.2% to $58.84.
READ: Scotts Miracle-Gro sees sales jump in fiscal 1Q, but posts wider loss than Street's estimate
Scotts Miracle-Gro Company (NYSE:SMG) stock climbed after it saw sales jump in its fiscal first quarter. For the quarter ended December 2018, the maker of products for lawn and garden care, posted an adjusted loss of $1.39. But investors were pleased that the Marysville, Ohio-based company posted sales, which came in at $298.1 million, which was 35% higher than the $221.5 million posted a year earlier. Most significantly, sales for its subsidiary The Hawthorne Gardening Company, a provider of nutrients and lighting used for hydroponic growing, advanced 84% to $140.8 million, driven by its acquisition last year of the hydroponics product producer Sunlight Supply, which greatly expanded Scotts' reach in the marijuana cultivation industry.
Shares in Scotts Miracle-Gro Company climbed 2.2% to $71.53.
READ: Tupperware squeezed after missing Wall Street 4Q revenue estimate
Tupperware Brands Corp (NYSE:TUP) shares fell after posting fourth-quarter net sales that missed Wall Street analysts' estimates. For the quarter, the company posted net sales of $505.9 million, down 14% from a year earlier. The average estimate of analysts was $542.5 million.
Shares of Orlando, Florida-based Tupperware tumbled more than 29% to $27.06 in midday trade.
Coherent Inc (NASDAQ:COHR) stock fell after Needham downgraded the Santa Clara, California-based company to Hold from Buy after it provided a weaker fiscal second-quarter outlook. "Our concern looking out over the next several quarters is that not only is there likely to be little if any improvement in the display and materials processing businesses, but other parts of Coherent’s business that have been performing relatively well could slow," wrote Needham analyst James Ricchiuti.
Coherent shares fell nearly 7% to 114.26.
Contact Uttara Choudhury at uttara@proactiveinvestors.com
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