SAN FRANCISCO (MarketWatch) -- AngioDynamics shares fell despite higher
second-quarter earnings, while Google and Pfizer remained in focus during
Monday's extended trading session.
The Nasdaq-100 After Hours Indicator, which tracks the evening action of
the technology-heavy index's leading stocks, added 3.1 points to 1,667.
Earlier, the Dow Jones Industrial Average finished down 39 points at
10,837, and the Nasdaq Composite lost 30 points to close at 2,223.
Shares of AngioDynamics Inc. lost 1.8% to $23.80 after starting the
evening session in rally mode. The company posted a profit of $1.66 million,
or 13 cents a share, compared with $1.04 million, or 9 cents a share, a year
ago. Revenue grew to $18.7 million, up from $14.4 million last year, and gross
margin rose to 58% from 56%.
Analysts surveyed by Thomson First Call were expecting the medical-devices
maker to report earnings, on average, of 13 cents a share with revenue of $18
million.
Separately, Connetics said it now expects fourth-quarter earnings of 37
cents to 40 cents a share, including 27 cents to 30 cents a share from
recognition of a tax asset of $11 million to $12 million in the quarter.
The company had previously forecast earnings of 24 cents to 26 cents a
share for the period. Analysts had pegged a profit of 25 cents a share on
revenue of $49. The stock fell 6.4% late to $13.53.
Usec shares jumped almost 5% to $12.20 after the company said it now
expects 2005 earnings of $27 million to $30 million, or 31 cents to 35 cents a
share, on total revenue of $1.55 billion. Excluding charges, net income would
be higher by $56 million, or 65 cents a share, the global energy company said.
Elsewhere, shares of Pfizer Inc. stayed relatively busy, trading down 4
cents to $24.28 after notching a 7.7% gain in regular trading. A federal judge
ruled for Pfizer in its patent dispute over Lipitor, the world's top-selling
prescription medication.
Trading activity in Google cooled after the bell, with shares up 75 cents
at $425.35. The stock took out a record intra-day high of $446.21 earlier on
reports that the search king had reached a new partnership deal with Time
Warner Inc.'s America Online unit.
Looking ahead, a spate of notable companies are set to unveil their
quarterly results later this week. Nike and Palm are to report Tuesday,
followed Wednesday by FedEx , Red Hat and Research In Motion , to name a few.
Shawn Langlois is a reporter for MarketWatch, and the editor of its
community message boards.
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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