This Day On The Street
Continue to site right-arrow
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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Orbitz, Exide, Ciena: After-Hours Trading

Stocks in this article: OWWXIDECIENJNPR

Updated from 5:51 p.m. ET to add comments from American Airlines, latest share prices.

NEW YORK ( TheStreet) -- Shares of Orbitz Worldwide (OWW) soared in late trades on Wednesday after a state court reportedly ordered AMR Corp.'s (AMR) American Airlines to return its flight and fare information to Orbitz's Web site.

Reuters reported an Illinois court has granted the request for injunctive relief from Travelport, which owns roughly half of Orbitz. American Airlines filed an antitrust suit against Travelport and Orbitz in mid-April, and added Sabre Holdings (TSG) to that suit on Wednesday. The airline is alleging the defendants exert excessive control over customer access to its flight and fare information.



Orbitz shares were last quoted at $3.20, up 45%, on volume of nearly 250,000, according to Nasdaq.com. Based on a regular session close at $2.21, the stock was down nearly 60% so far in 2011.

In a statement emailed to TheStreet, an Orbitz spokesperson confirmed the court's decision, and called the decision "a win for transparency, consumer choice and for all of our mutual customers."

"Effective immediately, American Airlines full schedule of flights are ordered by the court to be made available on both Orbitz.com and Orbitz for Business," said Brian Hoyt, vice president, communications & government affairs, at Orbitz, adding later: "Orbitz continues to believe that it is in the best interests of both companies to work towards a long term agreement to continue distribution of American Airlines content to our millions of mutual customers."

In its own statement on the decision, American Airlines said it "fundamentally" disagrees with the court's order.

"We want to underscore that this is the exact opposite conclusion than that of the judge who heard the evidence," the company said. "We are evaluating our options, but in the meantime, we will, of course, comply with the judge's order."

Exide Technologies

Shares of Exide Technologies (XIDE) fell sharply after Milton, Ga., energy technology company's latest quarterly performance missed Wall Street's expectations as it held back on price increases and forecast a year-over-year decline in profits in the current quarter.

After Wednesday's closing bell, Exide reported adjusted earnings of $12.9 million, or 15 cents a share, for its fiscal fourth quarter ended March 31 on net sales of $774.5 million, down from a year-ago equivalent profit of $37.5 million, or 49 cents a share, on sales of $714.7 million, and below the average estimate of analysts polled by Thomson Reuters for earnings of 25 cents a share in the March period.

"Fiscal fourth quarter net sales increased more than eight percent over the prior year fourth quarter due to selective market share gains and improving volume related trends in virtually all of our segments," said Jim Bolch, the company's president and CEO, in a press release. "For the most part we held pricing steady in the face of rising commodity and fuel costs with the intent of securing new volume."

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!

Markets

DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

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