SAN FRANCISCO (MarketWatch) -- Applied Signal Technology Inc. shares
surged 11% in Thursday's evening session after the company's quarterly
earnings beat analyst estimates, while Ford Motor shares also neared the top
of the most actives list following a union vote to OK health-care concessions.
The Nasdaq-100 After Hours Indicator, which tracks the evening's leading
shares, was down 0.05 point to 1,683.30.
Applied Signal shares jumped to $21.99 after the company reported fourth-
quarter net earnings of $3.11 million, or 26 cents a share, compared with
$2.42 million, or 21 cents a share, during the year-earlier period.
The provider of advanced digital signal processing products reported
quarterly revenue of $57.6 million, compared with $39.5 million last year.
Analysts surveyed by Thomson First Call expected a profit of 21 cents a
share on revenue of $44 million.
Ford shares traded heavily, changing hands up 2 cents at $7.97 after a
tentative health-care agreement with the United Auto Workers was ratified by
the rank and file. Ford says the deal will save the company $850 million a
year on a pre-tax basis.
Solectron Corp. shares dropped 6% to $3.61. The electronics contract
manufacturer reported a first-quarter profit of $20.2 million, or 2 cents a
share, compared to $47.5 million, or 5 cents a share, a year ago.
Solectron also reported revenue of $2.46 billion. Excluding one-time items
and charges, Solectron earned $28.1 million, or 3 cents a share.
Analysts had forecast earnings of 3 cents a share on $2.39 billion
revenue.
Bausch & Lomb shares slipped 1% to $78.16 after the company said it will
restate some of its financial results following the conclusion of its
investigation into its Brazilian subsidiary, BL Industria Otica Ltda.
Amkor Tech Inc. shares fell almost 2% to $6.06 after the company said
President John Boruch will retire at the end of the year.
-Jasmina Kelemen is a MarketWatch reporter based in San Francisco.
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SOURCE Thomson Financial Corporate Group
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