This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Nike, Xilinx: After-Hours Trading

NEW YORK (TheStreet) -- Shares of Nike (NKE) 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 Nasdaq.com. 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.

Xilinx

Xilinx (XLNX) 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 Thomson Reuters 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 Altera (ALTR), Xilinx's main competitor, as well. Its stock fell more than 3% to $34.66 on volume of almost 275,000.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,977.01 +16.44 0.10%
S&P 500 1,979.54 +1.20 0.06%
NASDAQ 4,448.0530 -1.5110 -0.03%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs