This Day On The Street
Continue to site
ADVERTISEMENT
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

Qualcomm, Netflix: After-Hours Trading

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 - Get Report) 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.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!
SYM TRADE IT LAST %CHG
ETFC $28.17 0.00%
NFLX $558.40 0.00%
QCOM $68.24 0.00%
QTM $2.07 0.00%
SBUX $51.84 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs