Tuesday's Winners and Losers: Blue Coat Systems

Blue Coat Systems(BCSI Quote) soared 12.7% after the company sailed past analyst expectations for the second quarter and guided higher for the current quarter. Blue Coat reported net income of $17 million, compared with $2.6 million in the same quarter a year ago.

Excluding charges, it posted EPS of 30 cents a share, compared with 21 cents a share a year ago. Analysts were expecting earnings of 24 cents a share. Revenue for the second quarter was $73.4 million, compared with $39.7 million for the same quarter last year and beat analyst expectations of $68.90 million.

For the third quarter, it guided revenue in the range of $78 million to $81 million and earnings in the range of 31 cents to 35 cents a share. Analysts are expecting revenue of $74.18 million and earnings of 27 cents a share. Blue Coat was up $4.21 to $37.34.

Shares of AMD(AMD Quote) were off 6.6%, a day after the company released a quad-core processor for the desktop PC market.

AMD's chip, though, comes a year after rival Intel's(INTC Quote) release of a similar chip. AMD also unveiled an all-in-one bundle of silicon components for desktop PCs, dubbed Spider. AMD was down 79 cents to $11.28.

Biovail(BVF Quote) said Tuesday that the FDA classified as Class 2 the response the company submitted on Oct. 23 for its salt formulation of buproprion, meaning it will take the agency six months to review. The goal date for the FDA to make a decision is April 23. CEO David Squires said he was surprised and disappointed with the agency's decision to classify Biovail's response at Class 2. BMO Capital Markets downgraded the company to underperform from market perform and lowered its price target to $16 from $20.25. Shares fell $1.91, or 11.6%, to $14.54.