SAN FRANCISCO (MarketWatch) -- Intel Corp. shares slid almost 3% in Thursday's
late-trading session after the company lowered the top end of its sales
forecast, while Merck & Co. shares fell on a report that a previous study
regarding Vioxx's safety was flawed.
The Nasdaq-100 After Hours Indicator, which tracks the evening action of the
index's leading shares, was last down 2.38 points to 1,683.21.
Intel fell to $24.94 after the world's largest maker of computer chips
forecast sales between $10.4 billion and $10.6 billion, as compared with the
previous range of $10.2 billion to $10.8 billion.
Analysts polled by Thomson First Call estimate that the company will rack up
revenue of $10.6 billion.
Merck & Co. shares dropped almost 3% to $28.90 after the New England Journal
of Medicine said that a key study it published on the safety of the
drugmaker's recalled pain reliever Vioxx was flawed.
According to an editorial published on the NEJM's Web site on Thursday, a
Vioxx study it published in 2000 failed to mention three incidences of heart
attacks among patients who took Vioxx.
NeoMagic Corp. shares doubled to $5.76 after the company reported third-
quarter earnings of $779,000, or 11 cents a share, compared with a loss of $6
million, or 91 cents a share, in the year-earlier period. The Santa Clara,
Calif.-based provider of applications processors said quarterly revenue was
$8.65 million, compared with $552,000 last year.
Zila Inc. shares jumped 4% to $3.50 after the company said that it has
reached an agreement with the Food and Drug Administration on the design and
size of its new Phase III clinical trial for OraTest, an oral cancer-detection
drug. The agreement will permit Zila to begin the trial.
Shares of Electronic Arts Inc. lost more than 2% to $54.24 after the company
said that it will buy Jamdat Mobile Inc. , paying $27 a share in cash. EA also
will assume outstanding stock options for a total of about $680 million.
Jamdat shares soared more than 18% to $27.00 in late trading following the
announcement.
Shuffle Master Inc. shares declined more than 4% to $26.00 after the company
reported fourth-quarter net earnings of $8.51 million, or 24 cents a share, on
revenue of $33.8 million. Analysts expected the Las Vegas-based gaming supply
company to report earnings of 24 cents a share on revenue of $31 million.
Jasmina Kelemen is a MarketWatch reporter based in San Francisco.
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