Wednesday's Late Winners & Losers

Many stocks headed downhill after the market closed on Wednesday as investors took profits following an extraordinarily bullish regular session.

Among the many decliners, with losses of 1.4% or more, were Qwest Communications (Q); rail-services company CSX (CSX); and radio broadcaster Clear Channel (CCU).

Disney (DIS), meanwhile, saw choppy trading after upping its annual dividend by 4 cents to 35 cents a share. The distribution will pay out on Jan. 11 to shareholders of record on Dec. 7. Still, shares of the Burbank, Calif., media conglomerate were recently off 3% at $31.72 after hours.

Sigma Designs (SIGM), however, saw strong upside after its non-GAAP income more than quadrupled from last year to $23 million, or 79 cents a share, on soaring revenue of $66.2 million, in the fiscal third quarter. That flies past Wall Street expectations for income of 55 cents a share on $51.8 million in revenue, per Thomson Financial.

The Milpitas, Calif., company attributes the impressive numbers mainly to mounting sales of systems-on-chip to makers of IPTV (Internet protocol television) set-top boxes and Blu-ray players. Shares jumped $6.76, or 11.4%, to $65.90, in recent late trading.

Fellow tech stock TiVo (TIVO) bounced 6.2% to $6.35 after posting a surprise narrowed loss for the quarter ended Oct. 31. The DVR (digital video recorder) company reported a shortfall of just $8.2 million, or 8 cents a share, compared with 12 cents a share last year. Analysts had expected the loss to widen by a penny.