Thursday's Winners & Losers: LSI

Semiconductor and storage maker LSI surged after the company reported better-than-expected first-quarter results, though it posted a loss of $14 million, compared to a net income of $30 million a year ago. Excluding items, the company reported earnings of 10 cents a share, compared with earnings of 11 cents a share the year before. Revenue rose 42% to $661 million. Analysts had been expecting earnings of 7 cents a share on revenue of $634.6 million. An analyst at Caris upgraded the stock to above average from average. Shares of LSI were up $1.03, or 20.8%, to $5.99.

Apple gained $6.05, or 3.7%, to $168.94 following the company's second-quarter results, which blew past Street expectations for the quarter. Apple posted a profit of $1.05 billion, or $1.16 a share, compared with profit of $770 million, or 87 cents a share, the year before. Revenue climbed 43% to $7.51 billion. Analysts were expecting earnings of $1.07 a share on revenue of $6.96 billion.

Gross margin, however, fell to 32.9% from 35.1% in the year-ago quarter and the company offered a conservative forecast of revenue of $7.2 billion and earnings of $1 a share. Analysts were expecting revenue of $7.15 billion and earnings of $1.10 a share in the current quarter. ...