shares gained 11% after the bell Thursday on the company's announcement that it had withdrawn a planned follow-on offering of 4.5 million shares. PortalPlayer, a maker of chips for digital media players, said its current stock price "does not reflect the company's market opportunity and future growth prospects for the business."
Because of the shelved offering, PortalPlayer raised its fourth-quarter earnings estimate to a range of 37 cents to 47 cents a share under generally accepted accounting principles. The company boosted its non-GAAP earnings forecast to 40 cents to 50 cents a share. The new outlook compares with a previous GAAP estimate of 34 cents to 43 cents a share and non-GAAP estimate of 37 cents to 46 cents a share. Shares were higher by $2.33 to $23.57 in after-hours trading.
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said it earned $155.1 million, or 45 cents a share, for the third quarter ended Oct. 29, up from $134.6 million, or 39 cents a share, a year ago. The retailer's revenue rose 14% to $3.1 billion from $2.7 billion last year, while same-store sales grew 3.5%. Analysts expected earnings of 44 cents a share on sales of $3.1 billion, according to Thomson First Call. "We are pleased with our performance on the gross margin line as a result of continued focus on inventory management," said Larry Montgomery, chairman and chief executive, in a statement. The stock rose $1.44, or 3%, after hours to $50.56.
posted a profit of $606 million, or 25 cents a share, for the third quarter ended Oct. 28, down from $846 million, or 33 cents a share, a year ago. The latest results include a one-time charge of $442 million related to a faulty component and restructuring. On a non-GAAP basis, the computer maker earned $944 million, or 39 cents a share, which met analysts' forecast. Revenue for the quarter rose to $13.9 billion from $12.5 billion last year. For the fourth quarter, Dell estimates earnings of 40 cents to 42 cents a share on revenue of $14.6 billion to $15 billion. Analysts had predicted earnings of 42 cents a share, with $14.98 billion in revenue. The world's No. 1 computer maker also said it plans to repurchase $1.7 billion in stock throughout the fourth quarter. The stock was down 38 cents, or 1.3%, to $28.83 in after-hours trading.