The stock market closed the week on a sour note, as investors ignored larger than expected gains in April U.S. nonfarm payrolls and instead focused on the potential geopolitical fallout from rising tensions in Ukraine. Yet even though violence in the port city of Odessa created fears of further incursions from Russia into Ukrainian territory, DigitalGlobe (DGI), Wynn Resorts (WYNN -1.42%), and Sequenom (NASDAQ: SQNM) all enjoyed large gains Friday after reporting quarterly earnings that satisfied shareholders.
Source: DigitalGlobe.
DigitalGlobe gained 8% after the satellite imaging and geospatial-solutions company reported its first-quarter results. Revenue climbed 23%, with the company's net loss attributable to common shareholders narrowing to within a penny of breaking even. The company has come a long way in integrating its acquisition of GeoEye early last year, and the progress of the Global Enhanced GEOINT Delivery program helped bolster DigitalGlobe's U.S. government revenue by 26% during the quarter. With DigitalGlobe pursuing new customers including government entities, energy producers, mining companies, and a global development foundation, investors are excited about the company's prospects for further growth.
Source: Wynn Resorts.
Wynn Resorts climbed by 7% as the casino-gaming giant reported earnings that surpassed even the most optimistic expectations from investors. Net income rose more than 14%, with strength from Macau once again leading Wynn Resorts higher as sales in the former Portuguese colony jumped 14%. Signs of even better performance in April in the Asian gaming capital also heartened shareholders. With Wynn Resorts moving forward with expansion plans in Macau that should more than double the number of available tables, the company has high hopes for the future. Surprisingly, founder and CEO Steve Wynn was optimistic about the prospects for Las Vegas; even though Wynn's quarterly revenue fell there, a recovery for Vegas would be huge for the entire casino industry.
Sequenom rose almost 9% as the maker of the MaterniT21 test for Down syndrome reported 20% growth in sales, including a 27% jump in diagnostic service revenue. The better results allowed Sequenom to cut its losses almost in half from the year-ago quarter, and the company was pleased with the rise in laboratory-test volume. Following last night's news, Sequenom also got favorable comments from analysts, who noted that the company has the potential to expand into other testing areas and collect more sales from its existing offerings.
