NEW YORK (
) -- Shares of
(NKE - Get Report)
fell in extended trades on Tuesday after the maker of athletic footwear and apparel beat Wall Street expectations for its November-quarter results but its
futures orders were light
The Beaverton, Ore.-based company said it earned $457 million, or 94 cents a share, in its fiscal second quarter ended Nov. 30, up more than 20% from its year-ago performance, and ahead of an average analysts' estimate for earnings of 88 cents a share in the November period.
Futures orders, which refers to Nike merchandise to be delivered between December 2010 and April 2011, jumped 11% to $7.7 billion, the company said. Sterne Agee, one of 19 analysts covering Nike's stock, was looking for order growth of 12-13%, according to a Dec. 9 research note previewing the quarter.
The stock was last quoted at $87.12, down 5.6%, on volume of 1.2 million, according to
. Based on a regular session close at $92.30, the shares were up more than 35% year-to-date. Tuesday's session-high of $92.49 ahead of the report was a new 52-week peak.
(XLNX - Get Report)
was weak in late trades as well, slumping 4.5% to $27.10 at last check with more than 170,000 shares changing hands. The move comes after the San Jose, Calif.-based maker of programmable logic chips said it
expects a sequential sales decline in the current quarter to be deeper than previously anticipated
because of weak demand from some of its large wireless communications customers.
Xilinx now anticipates sales for its fiscal third quarter ending Dec. 31 to fall between 7% and 9% from its total of $619.7 million in the September-ended period. Its prior sales outlook was for between a flat performance and a sequential decline of 4%.
Using the 7-9% range, the company's projection works out to quarterly sales of roughly $563.9 million and $576.3 million for the December-ending period. The current average estimate of analysts polled by
is for a profit of 58 cents a share on revenue of $604.7 million in the quarter.
The news prompted selling in shares of
(ALTR - Get Report)
, Xilinx's main competitor, as well. Its stock fell more than 3% to $34.66 on volume of almost 275,000.