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Qualcomm, Netflix: After-Hours Trading

NEW YORK ( TheStreet) -- Fellow high-fliers Qualcomm (QCOM - Get Report) and Netflix (NFLX - Get Report) were starring in late trades on Wednesday after both companies topped Wall Street's expectations for their quarter results.

Netflix -- the top gainer in the S&P 500 in 2010 with a gain of more than 250% -- was last quoted at $200.55, up 9.6%, on volume of 2.9 million, according to Nasdaq.com, after the movie subscription service posted a profit of 87 cents a share for its fiscal fourth quarter ended in December, roughly 22% ahead of the average estimate of analysts polled by Thomson Reuters for earnings of 71 cents a share.

Qualcomm shares have risen 10% in the past year, reaching a 52-week high of $53.10 last week, and the stock was advancing another 6.1% to $55.01 in extended action on volume of 6.6 million. Riding heavy demand for smartphones, the San Diego wireless chip technology developer beat the average analysts' earnings estimate for a seventh straight time in the December quarter with an adjusted profit of 82 cents a share on revenue of $3.4 billion. Wall Street was looking for earnings of 72 cents a share on revenue of $3.2 billion

Starbucks (SBUX - Get Report) wasn't doing quite as well. The stock was last quoted at $32.23, down 2.5%, on volume of 2.5 million, after the Seattle-based coffee giant's quarterly numbers were strong enough but its outlook for the rest of fiscal 2011 was a letdown.

The company, whose shares have jumped 49% in the past 52 weeks, said it expects earnings of $1.44 to $1.47 a share for the fiscal year ending in September, below the current average estimate of analysts polled by Thomson Reuters for a profit of $1.49 a share. Starbucks said rising commodity costs were the culprit, estimating a reduction in earnings per share of 20 cents for the year, primarily because of higher coffee expenses.

Another standout gainer was Tractor Supply (TSCO - Get Report), which rose more than 5% to $51.25 on volume of less than 60,000.

The Brentwood, Tenn.-based retailer of agricultural equipment and supplies said it earned $50.2 million, or 67 cents a share, in the December quarter, beating Wall Street's view by a nickel, as total sales increased nearly 20% to $1.03 billion and same-store sales jumped 13.1%.

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SYM TRADE IT LAST %CHG
ETFC $26.48 1.70%
NFLX $480.07 1.10%
QCOM $72.66 0.79%
QTM $1.67 2.50%
SBUX $94.21 0.78%

Markets

DOW 18,286.38 +153.68 0.85%
S&P 500 2,116.92 +12.42 0.59%
NASDAQ 5,005.0930 +41.5660 0.84%

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