SAN FRANCISCO (MarketWatch) -- Xilinx Inc. and Texas Instruments Inc.
shares rose in Wednesday's late-trading session after the companies improved
their forecasts in midquarter updates.
The Nasdaq-100 After Hours Indicator, which tracks the evening action of
the index's leading shares, was last up 1.16 points to 1,698.20.
Xilinx shares rose almost 3% to $27.19 after the company said third-
quarter sales would rise between 4% and 8% from the prior quarter to a range
of $414.9 million to $430.8 million, up from its prior forecast of $402.9
million to $418.8 million, a 1% to 5% rise.
Texas Instruments shares climbed almost 2% to $34.18 after the company
narrowed its fourth-quarter sales forecast $3.56 billion and $3.7 billion,
compared with its prior forecast of $3.425 billion to $3.715 billion.
General Motors Corp. shares slipped 4 cents to $23 and were also among the
late session's most heavily traded shares. Just before the closing bell, it
was reported that the automaker asked Jerry York, a representative of
billionaire investor Kirk Kerkorian, to join its board.
Shares of Brinker International Inc. dropped almost 8% to $37.45 after the
restaurant operator lowered its fiscal second-quarter forecast for earnings
from continuing operations to 54 cents to 56 cents a share, excluding special
items.
Veritas DGC Inc. shares surged almost 11% to $37.99 after the company
reported fiscal first-quarter net earnings of $11.8 million, or 32 cents a
share, compared with $978,000 or 3 cents a share a year ago. Revenue rose
30.2% to $168.68 million from $129.58 million last year.
Hovnanian Enterprises shares declined almost 2% to $47.83 after posting
fourth-quarter net earnings of $168.1 million, or $2.53 a share on revenue of
$1.77 billion. Analysts had estimated earnings of $2.42 a share on revenue of
$1.77 billion.
Shares of Online Resources Corp. jumped 2% to $11.25 after the company
said it sees net earnings for the first quarter of 2006 of $1.3 million to
$1.7 million, or 5 cents to 6 cents a share. The Chantilly, Va.-based
financial-services outsourcer said it sees the quarter's revenue between $16.5
million and $17 million.
Jasmina Kelemen is a MarketWatch reporter based in San Francisco.
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SOURCE Thomson Financial Corporate Group
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