SAN FRANCISCO (MarketWatch) - Alcoa Inc. shares fell in Monday's late
trading session after the aluminum giant kicked off earnings season with
fourth-quarter results that fell short of analyst forecasts.
The Nasdaq-100 After Hours Indicator, which tracks the evening action of
the index's leading shares, was last up 0.02 points to 1,741.92.
Alcoa shares fell almost 3% to $29.70 and topped the most actives list
after the aluminum producer posted net earnings of 26 cents a share, down from
30 cents a share a year ago. Revenue for the three months ended Dec. 31
totaled $6.67 billion, up from $5.98 billion a year earlier.
Analysts polled by Thomson First Call had expected the Pittsburgh-based
company to hand in earnings of 37 cents a share on $6.69 billion in revenue.
Endo Pharmaceuticals Holdings Inc. shares lost 6% to $29.52 after the
company forecast 2006 earnings of $1.75 to $1.80 a share, excluding some
items, on sales of $860 million to $880 million. Analysts are estimating 2006
earnings of $1.65 to $1.95 a share on sales of $820 million.
Bluefly Inc. spiked 10% to $1.27 and were among the top-ten most heavily
traded after the online clothing retailer said it expects fourth-quarter sales
to rise at least 45% from last year's results.
Planar Systems Inc. shares soared 28% to $10.85 after the flat-panel
display maker raises its fourth-quarter sales and earnings forecast.
The company now expects revenue of $56 million to $57 million and earnings
of 8 cents to 10 cents a share, including stock-based compensation expense. In
November, Planar forecast sales of $50 million to $55 million, and expected
earnings to break even on a per-share basis, including stock-option expensing.
Genzyme Corp. shares slipped to $74.65, or 0.5%, after the company said it
expects 2006 earnings of $1.78 to $1.88 a share on revenue of $3.1 billion to
$3.3 billion. The Cambridge, Mass.-based biotechnology company forecast 2006
earnings of $2.65 to $2.75 a share, excluding some items.
Analysts are expecting 2006 earnings of $2.75 a share on $3.2 billion.
Cognex Corp. lost 7% to $29.85 after the company lowered its financial
forecast for the fourth quarter. The company, whose products are used in
semiconductor and electronics manufacturing equipment, now sees per-share
earnings in the range of 22 cents to 24 cents and forecasts revenue coming in
slightly below $61 million.
Analysts expect Cognex to post earnings of 26 cents a share on revenue of
$63 million.
Applebee's International Inc. shares slipped almost 2% to $22.10 after the
company said it plans to separate the chairman and chief executive positions
this summer. Lloyd Hill will continue to serve as chairman and a new CEO will
be named.
Jasmina Kelemen is a MarketWatch reporter based in San Francisco.
This MarketWatch news update is provided to you courtesy of Thomson
Financial. The information herein is believed to be true and accurate. We take
no responsibility for inaccurate information and reserve the right to update
our reports. If you have any questions please e-mail James Sang at
james.sang@thomson.com or call 646.822.6233. For more information about
Thomson Financial visit us at http://www.thomson.com/financial.
SOURCE Thomson Financial Corporate Group
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