SAN FRANCISCO (AFX) -- American International Group Inc. shares fell during Thursday's late-trading session after the insurance giant said that its quarterly profit tumbled 72%, while Petco Animal Supplies Inc. shares gained ground after it posted better than expected quarterly results and approved a share-buyback plan.
The Nasdaq-100 After Hours Indicator, which tracks the evening trades of the index's leading shares, edged up 0.26 points to $1,679.31.
AIG fell 2.3% to $67.66 and Petco shares added 4.2% to $22.15 and climbed toward the top of the Instinet volume-leaders list.
AIG's fourth-quarter net income fell 72% to $444 million, or 17 cents a share. The results included a $1.15 billion charge from previously announced regulatory settlements.
Petco reported fourth-quarter net income of $26.8 million, or 46 cents a share, compared with $26.3 million or 45 cents a share last year. Sales were $541.5 million vs. $492.3 million. Excluding one-time charges, the pet-supply retailer would have reported earnings per share of 49 cents.
Petco also said that its board has authorized a $100 million share-buyback program.
Tektronix Inc. gained nearly 1% to $32.80 after reporting fiscal third-quarter net earnings of $26.5 million, or 32 cents a share, compared with $26.8 million or 30 cents a share last year. There were 83.3 million shares outstanding as opposed to 90.7 million last year.
Excluding certain items, earnings for the technology-measurement products provider would have been 37 cents a share. Revenue at Tektronix rose to $262.1 million from $256.3 million.
UTStarcom Inc. dropped 7.2% to $5.79 and MEMC Electronic Materials Inc. lost 2.6 % to $34.76 after each company said that it will delay filing its annual report for 2005.
Meanwhile, eOn Communications Corp. surged 29% to $2.64. The voice, email and Web-based communications products provider swung to a fiscal second-quarter profit of $607,000, or 5 cents a share, on 16% higher revenue of $2.96 million. This story was supplied by MarketWatch. For further information see www.marketwatch.com.
© 2006 AFX News
