California Micro Devices

(CAMD)

plummeted in after-hours trading Thursday when the semiconductor-products company lowered its first-quarter guidance.

For the quarter ended June 30, the company lowered its previous guidance by $2 million and now expects revenue of $15 million to $16 million, compared with $14.7 million a year ago. On a GAAP basis, the company expects to post a net loss of 12 cents to 13 cents, compared with earnings of 2 cents a share a year ago. Excluding items, the company is expecting earnings of 5 cents to 6 cents a share. Analysts polled by Thomson First Call are looking for the company to post earnings of 4 cents a share on revenue of $17.7 million.

"With the exception of our packaged EMI filter ASIPs and low capacitance ESD devices, we have seen a broad-based decline in demand for our products in the last month," said CEO Robert V. Dickinson. Shares dropped 97 cents, or 16.6%, to $4.89 in after-hours trade.

Medarex

(MEDX)

stumbled after hours when the biopharmaceutical company said it had received a grand jury subpoena from the U.S. attorney's office in New Jersey, requesting documents and information related to its past stock-option grants and practices. The Princeton, N.J., company had received a similar request from the

Securities and Exchange Commission

. Medarex said it is cooperating with both investigations.

The company also said it has been notified of the filing of two shareholder derivative lawsuits in New Jersey state court that name Medarex and some of its current and former directors and officers as defendants. The lawsuits allege breach of fiduciary duty associated with Medarex's options-grant practices. They also allege violations of federal securities laws in connection with public statements made by Medarex in its SEC filings relating to its stock-option practices and related accounting. They seek unspecified damages and equitable relief. Shares were losing 51 cents, or 5.2%, to $9.30 after hours.

Also suffering options woes was

Linear Technology

(LLTC)

, which dropped after the Milpitas, Calif., circuits maker said the SEC, as part of an informal inquiry, requested certain information on Linear's practices and procedures regarding past stock-option grants. The company said it will comply with the SEC documents request. On May 24, the company reported that derivative lawsuits were filed against its board of directors and certain officers alleging improper backdating. Linear said it plans a vigorous defense, adding that it does not expect the resolution of these matters to have a material effect on its results of operation or financial condition. Shares slipped 38 cents, or 1.1%, to $34.40 in after-hours trade.

Oracle

(ORCL) - Get Report

advanced after the software company said that preliminary fiscal fourth-quarter 2006 financial results exceeded previous guidance. The Redwood City, Calif., company said its earnings before items should be 29 cents a share for the quarter, topping its earlier forecast for a profit of 26 cents to 28 cents. Revenue increased 25% to $4.85 billion, well ahead of Oracle's 13% to 17% goal. Once all items were factored in, the database-software maker said it earned 24 cents a share in the quarter, beating its expectation of 21 cents to 23 cents. The results Oracle released were preliminary, and the company plans to report its final numbers on June 22. Wall Street is looking for earnings of 27 cents a share on sales of $4.55 billion. Shares were gaining 85 cents, or 6.2%, to $14.55 in after-hours trade.

Boston Scientific

(BSX) - Get Report

gained after the medical devices company said that the U.S. District Court in Delaware issued a ruling upholding a July 2005 jury verdict in a patent case against

Johnson & Johnson

(JNJ) - Get Report

.

The company said the ruling denied J&J's motion to overturn the verdict, in which the jury found that Johnson & Johnson's Cypher stent product infringed a Boston Scientific drug-coating patent. The jury also have found the patent to be valid. "We are very pleased that the Court has upheld the jury's verdict in favor of Boston Scientific," Paul LaViolette, Boston Scientific's chief operating officer, said in a statement. "This ruling reaffirms the strength and innovation of our drug-eluting stent technologies." Shares gained $1.49, or 7.6%, to $21.01 recently.