SAN FRANCISCO (AFX) -- Axcelis Technologies and Internap Network Services led evening advancers Thursday, with upbeat quarterly results from both companies helping stocks extend their daytime-session gains.
The Nasdaq-100 After Hours Indicator, which tracks the late action of the tech-heavy index's leading stocks, moved fractionally higher to 1,701 points.
Earlier, stock jumped on strong April sales for retailers and a sharp drop in oil prices. The Dow Jones Industrial Average rose 39 points to close at 11,439, while the Nasdaq Composite tacked on 20 points to finish at 2,324.
Internap tops advancers; Bookham brings up rear
Internap shares rose 14% to $1.55 to lead evening percentage gainers after the Internet-access-services company said it reversed losses to turn in a first-quarter profit of $541,000. Revenue rose to $42.6 million from $37.9 million. Analysts polled by Thomson First Call had forecast breakeven results, on a per-share basis, on revenue of $40.2 million.
Similarly, Axcelis ran up almost 12% to $6.74 after the chip-equipment maker also said it had swung to a profit, driven by demand for its Optima HD implanter.
Leading decliners, shares of Bookham shed 14% to $5.40 after the optical networking parts maker's wider loss missed analyst targets for the third quarter.
FoxHollow Technologies also took a big hit, down 12.8% at $27.20 after the medical-device maker reported a wider third-quarter loss.
Univision profit rises; Gemstar sales fall
Spanish-language media giant Univision Communications said its first-quarter profit rose to $53.9 million, or 16 cents a share, compared with net income of $44.3 million, or 13 cents a share, in the year-ago quarter. Excluding charges, the company would have earned $56.5 million, or 17 cents a share, in the latest three months. Revenue rose 4% to $449.8 million.
Analysts were expecting a profit of 15 cents a share on revenue of $456.2 million.
In the second quarter, Univision expects earnings in the range of 31 and 32 cents a share, it said, mostly in line with Wall Street targets.
Gemstar-TV Guide International said it turned a first-quarter profit from a year-ago loss as operating expenses decreased. The company said it earned $8.6 million, or 2 cents a share. In the same quarter last year, its loss was $3.7 million, or 1 cent a share.
Revenue dropped to $144 million from $164.1 million on lower circulation and advertising revenue at its publishing segment. Analysts were expecting a profit of 1 cent a share on revenue of $144.5 million.
Gemstar shut down its Inside TV magazine during 2005, and launched a revamped version of TV Guide.
Activision, McKesson report
Activision said it swung to a fourth-quarter loss of $9.2 million, or 3 cents a share, compared with a profit of $3.6 million, or 1 cent a share, a year earlier. Analysts had expected a loss of 8 cents a share. Revenue for the period fell to $188.1 million from a year-earlier $203.9 million. The company also reiterated its sales forecast for the 2007 and 2008 fiscal years.
Shares of Activision added 1.3% to $13.26 in late trade.
McKesson posted fourth-quarter net income of $220 million, or 70 cents a share, down from $259 million, or 85 cents a share, a year ago. Sales at the San Francisco-based pharmaceutical company were $23.1 billion, versus a year-ago $20.5 billion. Analysts had expected the company to report earnings of 68 cents a share on sales of $22.3 billion.
McKesson shares logged fractional late gains to $48. This story was supplied by MarketWatch. For further information see www.marketwatch.com.