Monday's Late Winners & Losers

Earnings news was driving a number of stocks lower in after-hours trading, including Dow Jones Industrial Average component Alcoa(AA Quote).

Alcoa, whose earnings report is the unofficial kickoff to the second-quarter earnings season, was losing 1.1% after its second-quarter profit slipped vs. the year-ago period. The aluminum producer reported earnings of $715 million, or 81 cents a share, down from the year-ago $744 million, or 85 cents a share. Sales rose to $8.07 billion from $7.8 billion a year earlier. Analysts polled by Thomson Financial expected earnings of 81 cents a share and sales of $8.34 billion. In after-hours trading, Alcoa shares were losing 48 cents to $41.94.

Shares of lubricant maker WD-40(WDFC Quote) slipped 9.4% after the company said it did not expect to meet Wall Street's full-year expectations. The company said it expects net income of $29.1 million to $30.2 million, or $1.70 to $1.75 per share. The company expects sales of $307 million to $313 million. Analysts polled by Thomson Financial expected earnings of $1.78 per share on sales of $313.6 million. In late trading, shares slipped $3.48 to $33.49.

Restaurant chain operator The Cheesecake Factory(CAKE Quote), however, was climbing 4.3% after saying it expects second-quarter revenue to be higher than expected. The company said revenue for the quarter increased to $373.2 million, from $322.6 million in the year-ago period. The Cheesecake Factory also said it opened two new restaurants, as planned, in the quarter and remains on track for its target of 21 new locations for the year. The stock was gaining $1.10 to $26.46 in late trading.

In M&A news, the Chicago Mercantile Exchange(CME Quote) edged up after the Chicago Board of Trade(BOT Quote) agreed to its $11.9 billion buyout offer. The two exchanges expect the deal to close within days, to create a new company, CME Group. Chicago Mercantile Exchange shares advanced $3.26, or 0.6%, to $573.84.

Gemstar-TV Guide(GMST Quote) shares jumped 14%, after the company announced after the bell it was exploring strategic alternatives -- including a possible sale. Shares were gaining 77 cents to $6.11.