Veeco Instruments (VECO) was a big mover to the upside in late trades after the maker of LED and solar panel capital equipment missed Wall Street expectations for its quarterly results but reported strong order activity.
The stock leapt 8% to $39.05 on volume of more than 55,000 after Plainview, N.Y.-based Veeco said bookings totaled $311 million for the second quarter, a record for the company that reflects sequential growth of roughly 35%.
"While China was again the main region for new systems purchases, Korea showed signs of improvement, including a multi-system MaxBright MOCVD order from an important LED industry leader," the company said, adding that its quarter-end backlog was $558.2 million.Year-to-date, based on Tuesday's regular session close at $36.15, the stock was down 9% prior to the after-hours move, falling more than 35% since hitting a 52-week high of $57.67 on May 31. Other stocks active in extended action included Cbeyond (CBEY), which rose nearly 9% to $11.36 on volume of more than 115,000 ahead of its quarterly report on Wednesday; j2 Global Communications (JCOM), which advanced almost 12% to $28.99 on volume of more than 40,000 after blowing past Wall Street expectations for its second-quarter results and giving a strong outlook; and SuccessFactors (SFSF), which added more than 10% to $27.90 on volume of nearly 400,000 after maker of cloud-based business software delivered an upside surprise for its fiscal second quarter and said it expects third-quarter revenue of between $83 million and $84 million vs. the current consensus view of $72.1 million. -- Written by Michael Baron in New York.
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