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Qualcomm, Netflix: After-Hours Trading

Stocks in this article: QCOMNFLXSBUXTSCOETFCQTM

Shares of Tractor Supply, which also offered up an above-consensus outlook for fiscal 2011, have appreciated more than 90% in the year, and were already trading above their 52-week high of $49.64 in late trades.

E*Trade Financial (ETFC) wasn't attracting buying interest in the extended session, however, as its shares pulled back 2.5% to $15.39 on volume of more than 100,000 after its quarterly report.

The online broker posted a loss of $24 million, or 11 cents a share, for its fourth quarter ended Dec. 31, well short of a consensus analysts' view for a profit of 4 cents a share. E*Trade said its provision for loan losses increased on a sequential basis to $194 million from $152 million in the third quarter.

E*Trade said the higher loan loss provision was the result of a $60 million increase in the "qualitative component" of its loan loss reserves to reflect the swelling of its loan modification program, and that it doesn't expect to record a similar large boost in future quarters. It also cited higher advertising spending as a contributing to its loss.

The big loser among NYSE-listed stocks was Quantum Corp., which saw its shares drop more than 24% to $2.72 on volume of 2.9 million after the closing bell.

Quantum, a San Jose, Calif., provider of data backup and recovery products and services, fell short with its performance in its fiscal third quarter ended in December, posting revenue of $176 million well beneath the average analysts' view of $192.4 million.

It also offered a weak outlook for the current period, forecasting non-GAAP earnings of 4 to 5 cents a share on revenue ranging from $165 million to $175 million vs. Wall Street expectations for a profit of 9 cents a share on revenue of $185.2 million.

-- Written by Michael Baron in New York.



>To contact the writer of this article, click here: Michael Baron.

>To submit a news tip, send an email to: tips@thestreet.com

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
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