Early Stocks in Motion

Shares of Applied Signal Technology(APSG Quote) rose nearly 11% in late trading Thursday after the company's fourth-quarter results handily beat Wall Street expectations. The maker of digital-signal processing products earned $3.1 million, or 26 cents a share, for the quarter ended Oct. 31, up from $2.4 million, or 21 cents a share, a year ago. Revenue increased 46% to $57.6 million from $39.5 million last year. Analysts polled by Thomson First Call expected earnings of 21 cents a share on revenue of $44.4 million. The stock was jumped $2.51 to $21.85 in after-hours trading.

Leadis Technology(LDIS Quote) shares fell 11% after the company lowered its fourth-quarter guidance, citing lower shipments on its TFT products. The developer of mixed-signal semiconductors now expects to report a loss of 8 cents to 10 cents a share on the basis of generally accepted accounting principles. On a non-GAAP basis, the company sees a loss of 7 cents to 9 cents a share. Leadis anticipates revenue of $20 million to $21 million. In October, Leadis projected non-GAAP results ranging from break-even to earnings of 2 cents a share, with revenue of $25 million to $28 million. The stock was down 56 cents to $4.60 in after-hours trading.

Solectron's(SLR Quote) fiscal first-quarter profit fell to $24 million, or 3 cents a share, from $58.2 million, or 6 cents a share, a year ago. On a non-GAAP basis, the contract manufacturer earned $28.1 million, or 3 cents a share, which matched analysts' mean estimate. Revenue for the quarter fell to $2.5 billion from $2.7 billion last year, but beat Wall Street's projection of $2.39 billion.

For the second quarter, Solectron expects non-GAAP earnings of 2 cents to 4 cents a share, and revenue of $2.3 billion to $2.5 billion. Wall Street's forecast calls for earnings of 4 cents a share on revenue of $2.4 billion. The stock was lower by 23 cents, or 6%, to $3.61 in after-hours trading.