Early Today's Winners and Losers

Shares of Komag(KOMG Quote) rose 5% in after-hours trading Tuesday after the maker of thin-film disks raised its fourth-quarter revenue projection, citing strong demand. The company said it expects revenues to be up 6% to 7% over the third-quarter top line of $180 million, suggesting revenue of $190.8 million to $192.6 million. Komag previously had projected a 2% to 4% rise. The company sees net margins of 17% to 18%, in line with its guidance. Komag rose $1.99 to $41.23 in late trading.

Perrigo(PRGO Quote) rose after the drug company said it received Food and Drug Administration approval to market Desoximetasone Gel, an anti-inflammatory skin treatment. The product is the generic version of Taro Pharmaceutical's (TARO Quote) Topicort Gel. Shares of Perrigo gained 40 cents, or 2.5%, to $16.25 in after-hours trading.

Oxford Industries(OXM Quote) shares fell after the Atlanta-based apparel maker's third-quarter outlook fell short of analysts' estimates. The company's second-quarter earnings rose to $11 million, or 62 cents a share, from $9.1 million, or 53 cents a share, a year earlier, and beat Wall Street expectations by a penny. But for the third quarter, Oxford projected earnings of 80 cents to 85 cents a share. Analysts polled by Thomson Financial predict earnings of 89 cents a share. Shares of Oxford Industries dropped $1.99, or 3.9%, to $49.51 in after-hours trading.

Connetics(CNCT Quote) agreed to acquire the sales organization of PediaMed Pharmaceuticals, a privately held pharmaceutical company, for $12.5 million in cash. Shares of Connetics, a specialty pharmaceutical company, were down 28 cents, or 1.8%, to $15.30 in after-hours trading.

Cray(CRAY Quote) rose nearly 20% in Tuesday's late trading after the Seattle-based supercomputer designer raised its 2005 revenue projection and forecast 5% to 15% revenue growth for 2006. The company estimated 2005 revenue to be $199 million, up from its November estimate of $195 million. Based on that figure, the company's 2006 forecast implies revenue of $209 million to $328.9 million. Analysts, on average, expect 2005 revenue of $194 million and 2006 revenue of $215 million. Shares of Cray were up 27 cents to $1.66.