Total System Services (TSS - Get Report) shares jumped more than 9% in after-hours trading Tuesday as the merchant-services company darted past fourth-quarter Wall Street estimates. Profits mushroomed 75.2% to $87.1 million, or 44 cents a share, beating the consensus by 18 cents, according to Thomson Financial. Sales climbed 19.8% to $503.9 million, also topping the $439.5 million view. Shares were adding $2.58 to $29.69.
Vision-Sciences (VSCI - Get Report) surged after the company announced it will sell the rights and assets related to production and distribution of its EndoSheath products for use within the ear, nose and throat field to Medtronic (MDT).
Natick, Mass.-based Vision Sciences will receive $27 million upon contract close, and $7 million more contingent on certain milestones and on agreement compliance. Vision Sciences shares were up 12 cents, or 8.7%, to $1.50. Medtronic was slipping 26 cents to $54.24.
Hi-Shear Technology (HSR) soared after the company, which makes space-satellite parts, broadened its fiscal second-quarter profits to $905,000, or 13 cents a share, compared with $650,000, or a dime a share, a year ago. Revenue inched up to $5 million from $4.7 million a year ago. Shares of the Torrance, Calif., company were gaining 75 cents, or 8.1%, to $10.Investors Financial Services (IFIN) rose after the Boston-based company topped Street estimates. Earnings came to $35.7 million in the fourth quarter, or 53 cents a share, which beats targets by 2 cents despite last year's higher profits of $39.5 million, or 60 cents a share. The asset-management firm narrowed its full-year profits as well, to $153.8 million, or $2.28 a share, from $159.8 million, or $2.37 a share, in 2005. Still, shares were rising $1.89, or 4.3%, to $45.42.