After-hours trading turned out a mixed bag of results Monday, and among the biggest winners was
The Sunnyvale, Calif., Internet search giant jumped more than 4.5% in heavy trading amid news that Chief Executive Terry Semel has
and that co-founder Jerry Yang was appointed to replace him. Semel will stay on as nonexecutive chairman of the board. Additionally, Susan Decker was named president. Shares were up $1.25 to $29.37.
shares surged postbell, meanwhile, even though the Food and Drug Administration denied "immediate approval of Vasovist," an injectable agent for visual imaging of the vascular system. The Lexington, Mass., company climbed 19.9% to $7 after announcing that the FDA said further clinical trials "may not be necessary" for approval in the future.
, however, was among the late laggards after the Chandler, Ariz., semiconductor firm cut its fiscal first-quarter revenue guidance. Sequential growth is now estimated at 2%, or $263.3 million, vs. the prior 5%, or $271.1 million. Analysts polled by Thomson Financial are looking for $270.4 million. Per-share earnings are pegged at 39 cents a share (non-GAAP), or 2 cents higher than the average target, but shares were still off 7.1%, or $2.94, to $38.71.
Leggett & Platt
, which makes residential furnishings and other products, slashed its second-quarter continuing-operations income guidance by 8 cents to range from 29 cents to 34 cents a share. Analysts are seeking at least a nickel more. The Carthage, Mo., firm also lowered its full-year earnings outlook to trail expectations. Shares fell immediately after the close but were lately adding a dime at $23.67.