Updated from 6:02 p.m. ET for latest share prices, information about Research In Motion, Xoma.
James Chung, a spokesperson for Samsung, was quoted by Reuters as saying: "We haven't considered acquiring the firm and are not interested in (buying RIM)."
The stock had gained 8% in the regular session to close at $17.47 with volume reaching nearly 60 million, nearly three times the issue's trailing three-month daily average of 21.6 million, following speculation on a blog that Samsung was targeting a deal for Research In Motion.In after-hours action, the shares gave back 97 cents, or 5.6%, to $16.50 on volume of around 650,000.
Linear TechnologyShares of Linear Technology (LLTC) rose in late trades Tuesday after the chip maker topped Wall Street expectations with its latest quarterly results and gave an above-consensus revenue view for its fiscal third quarter. Milpitas, Calif.-based Linear reported non-GAAP earnings of $104.9 million, or 45 cents a share, for its fiscal second quarter ended Jan. 1 on revenue of $294.3 million. The average analysts' estimate was for a profit of 39 cents a share in the latest three-month period on revenue of $294.3 million. For its fiscal third quarter ending in March, Linear forecast sequential revenue growth of 4%-8%, which implies a range of $306.1 million to $317.9 million. Wall Street's current estimate is for revenue of $302 million in the quarter.
The stock was last quoted at $32.20, up 7.8%, on volume of more than 75,000, according to Nasdaq.com. Based on Tuesday's regular session close at $29.87, the shares were down more than 15% in the past year, scraping a 52-week low of $25.41 on Aug. 9. Linear also said it's increasing its quarterly dividend by 4% to 25 cents a share from 24 cents a share. That brings the forward annual yield on the shares to 3.3% before factoring in the after-hours move. "This was an encouraging quarter in a difficult global economic environment," said Lothar Maier, Linear's CEO, in a statement. "We met the mid point of our guidance and we believe that we are at an inflection point in our business. Bookings, which started slowly, strengthened in December and continued strengthening in January." Wall Street was skeptical on Linear ahead of the news with 14 of the 23 analysts covering the stock at either hold (11), underperform (2) or sell (1) and the 12-month median price target at $32.50.
Yahoo!Shares of Yahoo! (YHOO) got a boost after the bell following news that co-founder Jerry Yang has resigned from the company's board. Yang has also resigned from the boards of Yahoo! Japan and Alibaba Group. He cited a need to "pursue other interests outside Yahoo!" for the decision. >>>Was Jerry Pushed at Yahoo! Is Yang Really Gone From Yahoo!
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