Market Roundup

Shares of Rite Aid Corp RAD gained about 3.5% after the company reported narrower-than-expected first-quarter loss. Rite Aid's quarterly narrowed to $65.5 million, or $0.07 per share, from $76 million, or $0.09 per share, in the year-earlier period. Its revenue came in at $6.39 billion. However, analysts were expecting a loss of $0.12 per share on revenue of $6.37 billion. Rite Aid projects a loss of $0.42 per share to $0.64 per share for 2012. Analysts expected a loss of $0.54 per share for 2012. Shares of Oracle Corp ORCL dropped about 2% as the company is scheduled to report its quarterly results after the closing bell. Analysts expect Oracle to post its earnings at $0.71 per share on revenue of $10.75 billion in the fourth quarter. Oracle reported earnings, excluding items, at $0.60 per share on revenue of $9.63 billion, in the year-ago period. Shares of Red Hat Inc RHT rose 5.4% about after the company reported better-than-expected fiscal first-quarter profit. The company's net income jumped to $32.5 million, or $0.17 per share, from $24.1 million, or $0.12 per share, in the year-ago period. The company's revenue surged 27% to $264.7 million. Excluding one-time items, Red Hat's earnings came in at $0.24 per share for the quarter. Analysts were expecting earnings of $0.22 per share on revenue of $253.7 million. Shares of Discover Financial Services DFS gained about 1.8% after the company reported upbeat fiscal second-quarter results. Discover's quarterly profit surged to $600 million, or $1.09 per share, from a year-ago profit of $258 million, or $0.33 per share. Its revenue net of interest expense climbed 4.6% to $1.74 billion. Analysts were expecting earnings of $0.75 per share on revenue of $1.7 billion. Shares of Nissan Motor Co Ltd NSANY fell about 0.8% after the company projected a 15% decline in net profit for the current fiscal year. Nissan expects a net profit of Y270 billion in the fiscal year, versus Y319.22 billion in the previous fiscal year. Analysts expected a profit of Y252.20 billion for the same period. The company expects sales to increase 7.1% to Y9.400 trillion in the current fiscal year. It projects a 14% drop in operating profit to Y460 billion from Y537.47 billion. Nissan also announced its plans to double its dividend payment for this fiscal year to Y20 per share. Nissan expects to increase global sales 9.9% to 4.60 million vehicles. It expects a 12% surge in China to 1.15 million vehicles, a 6.8% rise in North America to 1.33 million vehicles and a 1.7% rise in Japan to 610,000 vehicles.